PWC Loans (Personal Watercraft) – 10 Tips to Better Financing

There are a few things to consider when financing a personal watercraft. The first is the type of PWC loans you want. There are many different types of loans available, so it’s important to do your research and find the right one for you.

You also need to consider the interest rate and term of the loan.

The interest rate will affect your monthly payments, so it’s important to find a loan with a competitive interest rate.

The term of the loan is also important, as it will determine how long you have to pay off the loan. Once you’ve considered all of these factors, you can start shopping around for the best deal on a personal watercraft loan.

With a little bit of research, you can find the perfect loan for your needs.

New and used watercraft financing

Mountain America provides personal watercraft (PWC) loans to help you finance your purchase, whether you’re buying a jet ski or a wave runner.


Low rates and flexible periods are available on our wave runner and jet ski financing options. We can also assist you with refinancing your current debts.

Refinancing might help you save a lot of money by lowering your interest rate or payment.

1. Benefits of PWC Loans

  • Fixed PWC interest rates as low as 5.24% APR
  • No application fees
  • Terms up to 6 years1
  • Onsite financing at many dealerships
  • Rate discounts with MyStyle Checking

2. Can you get a loan for a jet ski?

Many manufacturers provide direct financing for jet skis, or you may arrange a loan from your bank or credit union.

A power port or personal watercraft loan is the most popular type of financing for a new or used jet ski.

3. How long do you think you’ll be able to afford a personal watercraft?

Many lenders will finance a new or used personal watercraft for a period of one to seven years. The more significant the loan amount, the longer your watercraft loan (if you need or choose to take longer to pay it off).

4. How do I finance a personal watercraft?

A PWC is financed similarly to a vehicle. To check if they qualify for the loan, buyers must fill out a loan application with a lender.

The lender will check the buyer’s credit and verify their income, assets, and responsibilities during the application process.

If the applicant hasn’t chosen a specific boat, lenders may consider a preapproval. Applicants with a decent credit score, a low debt-to-income ratio, and a down payment will have an easier time obtaining financing.

5. Personal Insurance

We explore many carriers to locate the coverage that fits your needs, so you can relax and enjoy your time on the lake knowing your boat is safe.


Progressive, Nationwide, Travelers, Auto-Owners, Safeco, and other top boat insurance companies have collaborated. They can supply you with the most cost-effective insurance solutions.

The right coverage for you

Mountain America Insurance’s boat insurance can cover a range of frequent boating circumstances, including:

  • Roadside assistance
  • On-water towing
  • Total loss replacement
  • Comprehensive coverage
  • Collision coverage
  • Personal effects replacement

Contact one of our insurance specialists immediately if you’re unsure what you need. We’ll be happy to answer any questions you have and assist you in selecting the best plan for you and your boat.

Personal Watercraft & Jet Ski Loan Rates


  • Up to 24 months as low as 1.79%
  • 25 to 36 months as low as 2.29%
  • 37 to 60 months as low as 2.44%

Also Read: Golf Cart Financing: Apply for a Loan Without Any Hassle

7. Classification and accounting for loans

Loan receivables can be classed as either held for investment or held for sale or can be accounted for using the fair value option (FVO).

They can be reported under ASC 310 (nonmortgage loans, often known as “not held for sale”) or ASC 948-310 (nonmortgage loans) (mortgage loans, commonly referred to held for long term investment). The following parts explain how to identify the proper categorization and accounting for various loan kinds.

Following ASC 825-10-15-4, an entity may apply the FVO to generate or buy loans. The irreversible election can be made instrument by instrument (i.e., only certain loans will be reported at fair value), with changes in fair value being recognized in profits.

Because ASC 326-20-15-3 scopes out financial assets assessed at fair value via profits, loans accounted for under the FVO will not be subject to an allowance for credit losses under the CECL impairment model as a result of the election.

More information on the allowance for credit losses can be found in LI 7, and the FVO election may be found in FV 5.

8. Classification and accounting: loans held for investment (HFI)

When a reporting entity has the purpose and ability to keep an originating or bought loan for the foreseeable future, or until maturity or payment, the loan should be categorized as held-for-investment.

If the reporting organization cannot establish this intent and capacity, the loan should be classed as held for sale.

Loans held for investment are recorded on the balance sheet at their amortized cost basis, as explained in ASC 310-10-35-47A and ASC 948-310-30-4.

The amortized cost basis is the amount at which financing receivable or investment is created or bought, adjusted for appropriate accrued interest, premium, discount, and net deferred fees or charges, cash collection, write-offs, foreign currency, and fair value hedge accounting adjustments.

For details on calculating the allowance for credit losses for a loan held for investment, see LI 7.

9. Transfers between categories

A reporting entity may elect to sell a loan that was previously categorized as held for sale or keep a previously classified as held for investment.

When the conditions for altering classification are satisfied, the loan should be reclassified (e.g., when the reporting entity intends to sell loans initially classified as held for investment).

10. Transfer from held for investment to held for sale

A loan categorized as held for investment should be reclassified to held for sale if the reporting entity intends to sell the loan, as stated in ASC 310-10-35-48A and ASC 948-310-35-2A.

Any previously recorded provision for credit losses is reversed in profits when a loan is shifted into the held-for-sale category.

The loan is recorded on an amortized cost basis. Before the transfer, a reporting entity should apply its write-off policy to the amortized cost basis. Any write-offs realized shortly before the transfer should be deducted from the amortized cost at the time of transfer.

If the amortized cost basis exceeds the loan’s fair value at the transfer time, the reporting entity shall set aside a valuation allowance equal to the difference.

After applying the write-off policy, the previously recorded allowance for credit losses connected with the transferred loans should generally be released, and an offsetting item recorded to the provision.

This usually happens when the reporting entity calculates its overall credit loss allowance at the following reporting date.

In the same reporting period, this might have the effect of reversing the pre-transfer held for investment allowance for credit losses via the provision and establishing a new held for sale valuation allowance through earnings.

Applying the write-off policy to loans with credit degradation should reduce much of the pre-transfer allowance.