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Used Boat Loan Term Length
Hello. I am not new to owning a boat, however, I have found the perfect "new boat to me" and I am looking to finance for the first time. The boat is a 2007 and in very nice shape. I have read in other posts that current rates can be found around mid to high 5% with very good credit and up from there. What is the length of the loan for a rate like this? I am wanting to finance for 120 months. Is it possible to get a loan this long on a used boat this old?
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Member
It depends on a lot of factors. Call Reclending, a BBC Sponsor, who has really good rates. A boat thatbold needs to be checked for hull blisters and if it is a Nitro Z7, check for a hooked hull too.
As always, have the motor checked by a mechanic AND go for a test drive!
USN Retired
2020 Basscat Caracal
2020 Mercury 225 ProXS 4s