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Would SunTrust approve my loan before I pick out a boat?
Yes. SunTrust offers conditional approvals for a specific loan amount.

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Are interest rates higher for used boats and refinancing?
Not at SunTrust. We charge the same low rates for new and used boats whether you're purchasing or refinancing.

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Does SunTrust charge any points, service charges, or other fees to obtain a boat loan?
No. However, the Coast Guard charges recordation fees for documentation and lien recordation for documented vessels. Most people choose to have a documentation service handle the filings because of the complexity involved.

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At your request, SunTrust will provide this filing service on refinanced vessels, for just $125 - a service that can cost up to $300 elsewhere, or on newly purchased vessels, for just $350 - a service that can cost up to $775 elsewhere.

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Does SunTrust finance sales taxes, warranties, slip fees, or documentation fees?
No. However we do include freight and reasonable commission costs in the purchase price before determining the amount financed.

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Can I get a loan on my wooden work boat from SunTrust?
No. We specialize in financing fiberglass and aluminum hulls for pleasure crafts only. Wood, steel, and ferro-cement hulls do not qualify for financing. Nor do we finance commercial or charter boats.

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When should I get a marine survey, and what does it cost?
When purchasing a boat it's always a good idea to get a survey, regardless of the age of the boat. However, many marine insurance companies require such a survey when insuring a used vessel over five model years old, as does SunTrust on the boats we finance. Surveys should be performed by a qualified marine surveyor while the boat is hauled so that a thorough hull inspection can be completed in addition to an interior inspection. Surveyors generally charge between $150 and $500 depending on how extensive the survey is and the size of your boat.

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Should I get my boat documented with the U.S. Coast Guard?
SunTrust requires all qualifying boats to be federally documented with the U.S. Coast Guard. Vessels over five net tons are documentable and this usually occurs in boats 26' and over in length. The U.S. Coast Guard maintains chain of ownership records and lien recordation on all documented vessels at their central registry, the National Vessel Documentation Center in West Virginia. U.S. Citizenship is required for documentation. Boats that do not qualify for documentation (usually those under 26') are usually titled in the state in which they are kept – much the same as automobiles.

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I'm ready to apply for my marine loan. What do I do next?
There are several ways to apply:
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Chat With Us Online

Need assistance with an application? A SunTrust sales representative is standing by to help you.
> Click here to chat now.
Additional Information

Contact a SunTrust representative or apply for a loan online.

> Apply online
> Call us at 800.797.BOAT
> Email us
> Visit us at the following Marine and RV Lending locations:

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Services provided by the following affiliates of SunTrust Banks, Inc.: Banking and trust products (including checking accounts) and services are provided by SunTrust Bank, Member FDIC. Securities, insurance (including annuities and certain life insurance products) and other investment services (including Brokerage accounts) are offered by SunTrust Investment Services, Inc., an SEC registered investment adviser and broker-dealer and a member of the FINRA and SIPC. Other insurance products and services offered by SunTrust Insurance Services, Inc., a licensed insurance agency.