Jet Ski Loans & Other Financing Options
If you are in the market for a Jet Ski, you have a few options to pay for it including personal loans, credit cards, and dealer financing.
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Commonly used to refer to a personal water craft (PWC) that seats one to three people and is used for recreation, a Jet Ski is actually the brand name of a PWC manufactured by Kawasaki.
For the purpose of this article, we’ll use the term jet ski as a general term for all PWCs that fit the above description.
One way to pay for a jet ski is with a low-interest personal loan. Continue below to compare several lenders that offer personal loans that can be used to finance a jet ski purchase.
On this page:
Compare Jet Ski Personal Loans
Compare Jet Ski Loans
A powersport vehicle loan
- Fixed-rate loans starting at 4.29%* APR with AutoPay
- Minimum credit score of 660
- Loan amounts starting at $5,000
A personal loan
- Fixed-rate loans starting at 7.99% APR
- Minimum credit score of 620
- Loan amounts starting at $1,000
A personal loan
- Rates are typically between 8.41% and 35.99% APR1
- Minimum credit score of 600
- Loan amounts starting at $1,000
Jet Ski Financing Options
LightStream is an online lender offering a powersport vehicle loan that can be used to finance a jet ski purchase. With fixed-rate APRs starting at 4.29%*, terms from 2 to 7 years**, and a Rate Beat Program, LightStream is a great option to consider for financing a jet ski.
Since personal loans can be used for almost any expense, you can use them to purchase a jet ski. Other lenders you may want to consider include Upgrade and Upstart.
In addition, there are personal loans for all credit categories including good credit loans, fair credit loans, and bad credit loans.
The major PWC manufacturers offer financing through affiliated banks. For example, Yamaha extends credit through Synchrony Bank.
Sea-Doo arranges financing through Sheffield Financial, a unit of BB&T Bank, and rates and terms will vary depending on your financial situation.
Here are the pros and cons of the major jet ski financing options:
Personal Loan
As mentioned above, personal loans can be used for a variety of expenses—including jet skis. These loans are unsecured meaning you don’t have to provide any collateral. Rates vary greatly depending on your credit score so be sure to check the total cost of the loan before taking one out.
Pros
- Quick approval
- Not collateralized, so craft won’t be repossessed if missed payments occur
- If you use a peer-to-peer loan website, competition could provide you with a good deal
Cons
- Availability and APR depends on your credit rating
- Causes a hard pull of your credit report
- May be more expensive than other alternatives
>> Find Options: Best Personal Loans
PWC Dealer Financing
Many PWC manufacturers and dealers offer financing options for customers. These typically use the jet ski as collateral, so if you fail to repay the loan, you risk losing it. Be sure to read through the terms and conditions carefully. Oftentimes this type of financing will include a 0% APR or low APR intro period, but after that, rates jump up considerably.
Pros
- Lower interest rate because collateralized by the craft
- Sometimes have special low rate promo periods
- Dealers have an incentive to approve the loan
Cons
- Availability and APR depends on your credit rating
- Causes a hard pull of your credit report
- Paperwork
- Craft could be repossessed if you miss payments
Credit Card
If you can get a credit card with a 0% APR intro period and pay off the jet ski in this time, it is definitely a strategy worth considering. If you can’t pay it off during the intro period, however, this likely isn’t a good option as the normal interest rate will be very costly.
Pros
- Many credit cards offer 0% APR introductory periods which can make financing cheap if you can pay the balance off before the promo is over
- Opportunity to earn points, miles, or cashback
- Pay on time to build your credit score
Cons
- Could be very expensive if you make minimum payments or don’t pay off the card before the intro period expires
- Could lower your credit score by increasing your credit utilization ratio
- High interest rates
>> Find Options: Best Credit Cards or Credit Cards With 0% Intro Period
Costs of Jet Skis and Other PWCs
PWCs are relatively affordable, but they aren’t cheap. Most manufacturers offer a lineup of models from simple to fancy, with prices to match. Note that the prices listed below are MSRPs, but most models can be purchased at discount.
- Kawasaki Jet Ski: 2019 models range in price from just under $9,699 to $17,999. The top-of-the-line Ultra 310LX features a 1.5-liter supercharged engine, 1890 pounds of thrust, a Deep-V hull, 496-pound load capacity, and a 3-blade stainless steel impeller.
- BRP Sea-Doo: 6 different types of 2019 models are available from $5,399 to $14,799. The top-model GTX Limited S 260 features seating for three, an exclusive independent suspension with 5.5 inches of travel, a 1.5-liter supercharged engine, multiple operating modes, and an Ergolock stepped seat.
- Yamaha WaveRunner: Yamaha offers 18 different 2019 models in four different series, ranging from $6,799 to $17,399. The FX Limited SVHO features a supercharged 4-cylinder, 4-stroke, Super Vortex High Output Yamaha Marine engine, electric tilt steering, seating for three, no-wake mode, and a multi-function information display.
Jet Ski Uses
Jet Skis have a number of uses:
- Recreational: Because of its small size and powerful engine, a Jet Ski moves quickly on the water, is easy to use, and highly maneuverable. Families often own a set of Jet Skis and ride together. Riders can learn to do different tricks, especially on the stand-up models. Jet Skis are most often used in lakes, bays, and rivers, although many riders like to venture into the ocean as well. Because Jet Skis do not have external propellers, they are considered relatively safe for wildlife and swimmers.
- Fishing: PWC fishing is a fast-growing segment of the industry. Anglers are attracted to their modest price, speed, and relative safety.
- Law enforcement: Jet Skis move quickly and are often used in harbor patrols. The Italian police use PWCs in Venice to catch the bad guys. Rangers enforce laws on rivers and lakes using PWCs.
- Rescue: PWCs can be outfitted with rescue platforms for use by lifeguards. The platforms allow PWC drivers to pick up folks in distress on the water and carry them back to shore. The craft are also useful for rescuing flood victims.
- Remote use: With the addition of radar, compass, GPS, and remote control, PWCs can be operated remotely to explore caves and other dangerous locations. The U.S. Navy has used remote PWCs for target practice.
*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
**Payment example: Monthly payments for a $10,000 loan at 5.95% APR with a term of three years would result in 36 monthly payments of $303.99.
1The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.
