Summer presents an ideal time for boating. The sea breeze cools the air, and the seas are relatively calm. With school and work vacations, you’ll likely have more time to enjoy your new leisure vessel.
Are you ready to step onboard? Buying a boat can seem more complicated than purchasing a car, especially if this is your first watercraft. Everything must be in order, from a dealer’s purchase order to the official number on the bow.
Tropical Financial Credit Union will help you through the loan process, from the application form to title papers. While most banks don’t offer boat loans, the credit union offers dealer and private-sale financing that can be customized to your budget and ownership plans. The application can be completed in as little as 10 minutes, and a status update can be provided in as little as 24 hours.
Did you know that, with a few exceptions, you must register your vessel with the state of Florida or the U.S. Coast Guard? The Florida Highway Safety and Motor Vehicles Department oversees title and registration. The paperwork is handled at county tax collectors' and license plate agent offices.
A pleasure vessel weighing five tons net must be titled with the Coast Guard. Most boats 25-to-27 feet or more usually meet this requirement. Why choose that documentation? Boaters who like trekking to the Bahamas will have an easier time dealing with local officials there if they are carrying federal paperwork. Even with a federal title, the vessel must be registered in Florida.
And one more thing: You must present proof of U.S. citizenship, such as a passport or birth certificate. A Tropical Financial loan officer can provide help with these and other aspects of boat financing, titling and registration. Visit the application webpage or call (888) 261-8328.
