Among the types of boats permitted include powerboats catamarans and sailboats which must be within 5 tons in weight and 30 feet in size.

Best boat loan lenders. Despite recent changes in credit markets a network of lenders stand ready to assist boat buyers finance their purchases. Best for Bad Credit. Best for Unsecured boat loans.

Boaters can expect a rough standard 20205 loan 20 year loan with a 20 percent down payment at 5 percent interest to be processed quickly and relatively hassle-free. LightStream is part of SunTrust Bank and offers unsecured loans designed specifically for financing boat purchases. The cost of renting a boat slip mostly depends on the size of the boat and the location.

Well help you find or build the Cobalt Boat of your dreams call us today to get started. Some lenders offer unsecured loans while others require you to use the boat or another asset as collateral to guarantee the loan. Regions Bank lends money to buy or refinance a new or used recreational vehicle for personal use.

NMLA members -- national and local banks financial service firms and credit unions -- offer competitive financing simply because they have made boat loans an important part of their business. The best rates tend to go to expensive new vessels though you can still find a good deal if you have a credit score over 670 and can afford a down payment of at least 20. LendingTree crunched borrower data interviewed experts and came up with three of the best boat loans.

The typical age of boat for loans. If you default on the loan the lender can repossess the boat and sell it to cover your loan. The loan amount ranges between 5000 and 75000 and the rate of interest is fixed.

Best High-Value Boat Loan. Best Marine Lending Specialist. A 10000 boat loan.