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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.What credit score is needed to buy a boat?
The credit score needed to buy a boat is typically anything that is over 700. A credit score of 700 will give you a loan with a low interest rate. People with this credit score shouldn't have any problems when applying for one.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.