Ski boat financing: new vs. used and getting a loan

What's better than getting your adrenaline pumping when you land your latest trick or the thrill of a great run on your skis or wakeboard? If you're a Powersports enthusiast like us, the answer is not much. And if you're in the market to purchase or upgrade your ski boat, a Synchrony loan may help you finance your thrill and all the gear you need too.

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Why finance your ski boat with Synchrony?

Financing can offer flexible terms, allowing you to pick a boat you love from the brands you trust and pay back the loan over time with manageable monthly payments that may help fit your budget. You can also purchase accessories and gear you want when you purchase your vehicle. And if you’re in the market for accessories after your purchase, you can use the Synchrony Outdoors card to get the gear your need at any time.*

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Why choose Synchrony for financing?

A Synchrony loan offers flexible terms, allowing you to pay back the loan over time and make convenient monthly payments.* You can also use the loan for approved accessories and gear you may want at the time of vehicle purchase.

  • Banking you trust: Synchrony is a Fortune 500 bank that’s been helping consumers for more than 90 years.
  • Brands you love: We partner with 100+ powersports brands for you to choose from.
  • 4,500 dealers: Synchrony loans are offered by over 4,500 dealership partners to help you get the powersports vehicle you want with financing you need.*
  • Lightning-fast decision: Get a decision about your loan application in 60 seconds or less.
  • Autopayment: Never miss a payment. Call Synchrony’s customer service and set up your automatic payments.
  • Early payoff: No early payment penalties or fees if you’d like to pay your loan off early.
  • Equal payments: Making predictable monthly payments over the life of the loan may help fit the cost of your purchase into your budget.

Ready to get on the water? Find a dealer near you that accepts Synchrony financing.

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How do ski boat loans work?

If you've financed a car, you already know what to expect when you finance a boat. Rather than paying the total cost outright, a loan allows you to borrow money from a lender and pay back the amount (with interest) in equal monthly installments.

Ski boat down payment

To get approved, you may need a down payment—a lump sum of money you pay upfront for the purchase. You could expect to put down about 10% to 20% of the boat's cost, although if you're buying it new, you might be able to find a low- or no-down-payment offer depending on the dealership's promotions.1

New boat vs. used boat financing

Whether you're buying a new or used boat, you may still be able to finance your purchase. Financing a new boat is typically simple since you can work directly with the dealer. And while financing a used boat can be slightly more complicated, but it’s still possible for private or dealer sales. Also, depending on the age of the boat, a used boat loan may have a shorter term than a new boat loan.

Ski boat accessories

Ski boat loans can help you afford key accessories like a wake shaper, padded swim platform, more powerful battery, or an upgrade to the all-important stereo system. And if you want a trailer for your new ski boat, we partner with over 700+ trailer manufacturers to offer affordable financing for all types of trailers too.

Types of ski boats

Whether you're using them for skiing, tubing, or wakeboarding, all ski boats are fairly small and maneuverable. Many ski boats hold eight people or fewer. They're about 16 to 28 feet long and easy to trailer from one location to the next.2


Here's an overview of popular ski boat options:

Type Description Cost Sport Benefits Drawbacks
Jet boat3 Uses jet propulsion, in the same way that personal watercraft do $21,000-$66,000 Tubing and casual skiing No danger from the propeller (prop); great handling; operates in shallow water Can get clogged; can't trim up or down; can be tricky to steer at low speeds
Sterndrive (inboard/outboard)4 Powered by an internal engine and external prop; some are designed for wakeboarding and have the props at the front of the boat $17,000-$150,000+ Casual skiing and tubing Lower entry price; versatile Prop can be hazardous; must be winterized
Inboard wakeboard boat5 Uses an internal engine with a prop located under the boat $150,000+ Wakeboarding and wake surfing No danger from the prop; often has ballast system to increase and shape wake Very expensive

Ski boat financing FAQ

How much do you have to put down to finance a ski boat?

In most cases, you'll need to put down 10%-20% of the boat's purchase price.1

How long can you finance a ski boat?

At Synchrony, we help finance marine products for up to 15 years.*

How to apply for a ski boat loan

With Synchrony, getting started with personal watercraft financing is simple. Talk to your favorite enrolled dealer. When you apply for a Synchrony loan using our digital application you'll need to provide your:

  • First and last name
  • Address
  • Email
  • Social security number
  • Date of birth
  • Income information
  • Vehicle information
Read more

Boat ownership 101

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Winterizing your boat

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Ski boat accessories, add-ons and upgrades

*Offer subject to credit approval by Synchrony Bank.

**Subject to credit approval. See Synchrony Outdoors | Synchrony for details.

Sources

  1. BoatUS. Boat Loans. Accessed December 17, 2024.
  2. Supra Boats. The Ultimate to Boat Length for Wake Boats. Accessed December 17, 2024
  3. Discover Boats. Jet-boats. Accessed December 17, 2024.
  4. Discover Boats. Bowrider. Accessed December 17, 2024.
  5. Discover Boats. V-Drive vs. Direct Drive. Accessed December 17, 2024.