Financing Your Boat
June 10, 2025
Several of the most popular ways to finance a boat purchase are through your boat dealer, a bank loan, or a loan from a specialized lender. It is common to go through the dealer, but that isn’t the only option. Here’s some more information on what all is available.
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1
Financing through your boat dealership
This is the direction most boat buyers choose to go in. Dealers are experienced in setting up boat loans. Also, it’s best for both the customer and dealer if the financing process goes smoothly and successfully.
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2
Loans from banks or credit unions
Others choose to go straight to the source for a loan. While this route can be a bit more complicated, it also has the potential to provide tax benefits or lower interest rates.
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3
Working with a marine lender
These brokers, like the National Marine Brokers Association, work to organize suitable conditions for both buyers and sellers. They can work with you throughout the entire process to help provide a deal that is tailored to your needs.