Sep 15

Boat Financing 101 – Boat Loans, Home Loans, and What to Consider When Financing a Boat

A recreational boat can easily be the most expensive non-home purchase most people consider. Given that most of us lack the ability to pay cash, financing is our only option for getting on the water with the vessel we desire. In this guide, we cover basic loan types used for buying boats, tax and other considerations based on the loan and boat type, and other important issues to consider including insurance, depreciation, and boating budget. This guide is by no means comprehensive, but should serve as a good starting point.
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