What types of boat loans do you offer?

We offer dealer purchase loans, refinancing and lease buyouts for every type of vessel: from bass boats to wakeboard boats to cabin cruisers or yachts.

What are the terms of a boat loan – the same as a car?

Many boats have long lifespans, so accordingly, many boat loans have longer lifecycles. This makes them eligible for relatively low interest, low monthly payment terms.

Who is eligible to get a boat loan through Central Bank?

Applicants must be 18 years or older.

Can I be approved before I select a boat?

Sometimes, yes. In the instance of a dealer purchase loan, collateral information is not needed prior to a loan decision. In the instance of refinancing or lease buyouts, information (make/model, hours) will be needed.

Can I refinance my existing boat loan through Central Bank?

Yes. Central Bank can refinance.

Is there a required down payment?

Boat loan down payments are evaluated on a case-by-case basis.

Are there particular dealers through which I can purchase?

Central Bank does business with dealerships across central and northwestern Iowa. Just let your Central Bank representative know which dealer you would like to purchase from.