How Long Can You Finance a Boat For?

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Finding Boat Loans
Dealer financing is a type of loan from the boat retailer. Typically these loans are done through a bank or other financial institution. Personal loans through banks, credit unions, and online lenders offer boat loans directly. Check with your own bank or credit union first — they may give discounts to current customers. Boat brokers can help you track down the type of boat you’re interested in and potentially help you get a better price. They may also be able to assist you in finding financing in exchange for a commission, which is usually about 10%. Brokers tend to be used for purchases of larger, more expensive boats.
Types of Boat Loans
Secured Loans
Unsecured Loans
Fixed Interest Rate Loans
Variable Interest Rate Loans
Average Boat Loan Term
5 to 7 Years
15 to 20 years
Using a Personal Loan for a Boat
Requirements
Application
Terms
Loan Amount
The Takeaway
Frequently Asked Questions
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About the Author
Austin Kilham is a writer and journalist based in Los Angeles. He focuses on personal finance, retirement, business, and health care with an eye toward helping others understand complex topics.
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