How long can you get a boat loan for?
This is one of the most common questions asked when it comes to boat financing. The truthful answer? It depends! However, by comparing multiple lender options...it can become clear how long of a loan you will be able to obtain. Average Length of Boat Loans While you can technically obtain a boat loan anywhere from 12 months to 20+ years depending on the lender...the average boat loan is between 2-15 years. Boat loans, unlike home loans, are typically going to be less than $100,000 which means the payoff period will be shorter than say a 30 year mortgage. However, you can still get a great rate below 4% with great credit and can hit the water sooner than you thought possible! The rule of thumb when obtaining a boat loan is the…