Credit Application

Download Credit Application

Interested in financing a boat? Here at Boating Lake Mead, we know how important it is to you to be able to purchase with confidence and know you are getting the best financing available. Our finance team works tirelessly to secure the best financing rates your new, used and pre-owned boats and waverunners. We have access to competitive rates and many times will beat your own bank financing offer. Remember financing boats and recreational vehicles is a little different than vehicle loans and take a little more time.

When submitting your credit app – please include the following:

  • 3 years residential
  • 3 years of work history
  • Fill out the app completely
  • Submit with copy of your driver’s license.
  • Drop off your credit application at the showroom, fax to 702-451-6809 or email to sales@boatinglakemead.com
  • And don’t forget, we need to know what boat you are interested in purchasing.

Download Credit Application

How do boat loans work?

  • Recreational vehicle loans are longer term loans; giving you an affordable payment over time. Typical loans are 120 months to 180 months depending on type and amount of the loan. Larger boat loans can be as long as 240 months. The advantage is providing a comfortable payment to enjoy your new toy.
  • Waverunner loans range from 36-84 months depending on the financial institution, the buyer’s history and the product being purchased.
  • Down payment helps you secure the best rates available. Zero down payment loans are available but even a little down can help you secure a better rate for the life of the loan.
  • Approvals are typically faster for credit score range of 675-850. But we work with banks that lend money to all credit scores and situations. We work hard to secure the best loan for you.
  • Although credit score is a major factor in determining approvals, the finance institutions look at a variety of factors and history.
  • History is important. To secure the best rates, financial institutions typically like to see a minimum 3 years credit history on similar dollar amounts. But we have an amazing network of credit unions that work with you when you have less history.
  • If you have had a bankruptcy – no problem. As you have worked hard to rebuild your credit situation, we have banks to support you and get you on the water.
  • Qualified co-applicants are perfect for more income showing affordability of the payments to the banks. (It is important that your co-applicant lives in the same household).

For younger buyers and credit builders:

  • Building credit is important to securing loans.
  • Credit cards are a great to grow your history and show you are responsible to maintain a recreational loan. It is important to remember that you need to keep your debt ratio in order. A key factor to remember to keep your credit usage below 50% of your credit limit on the card. For example: when your credit card limit is $5000 you should keep the usage under $2500 (50% of the limit). Going over 50% can negatively affect your credit score.
  • Vehicle loans are a large factor in boat loan approvals as they show your long term history on larger dollar amounts.
  • It is vital to make your payments on time and not have late pays.

All electronic submission are at the risk of the sender. The undersigned on the credit app but be the person submitting the credit application to Gripentog Enterprises, Inc. dba Dry Dock Boat Sales.

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