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Typically, the most expensive cost will be the interest you pay over the life of the loan. Boat loan interest rates usually start around 3.99% and go up to 20%. Some lenders charge processing fees while others don't charge any additional fees.How do you finance a boat?
How to finance a boat: Determine the down payment amount you can afford for your boat. Determine the amount you can afford to pay monthly for your boat loan. Check your credit score. Compare loan offers. Get pre-approved. Make an offer on a boat that fits your budget and the amount your lender pre-approved.How long can you finance a boat?
How Long Can You Finance a Boat? Boat loans are different than car loans and they can actually last up to 20 years which is more similar to a home mortgage than anything. However, it may not be in your best interest to borrow for that amount of time.