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Key takeaways. Used boat loans are offered by select banks, credit unions, online lenders and marine lenders. You could incur steeper borrowing costs if you finance an older boat.
Cons. Some lenders may not offer loans for older boats. If an unsecured loan is needed, the shorter available may make the payment unaffordable. The rates and fees are typically higher.
An unsecured personal loan may make financing an older used boat easier. Online lenders, credit unions, traditional banks and specialty marine financing lenders may offer a variety of different ...
Commercial banking and services offered are: commercial real estate lending, SBA 504, equipment and vehicle financing, and lines of credit. The credit union also provides financial planning services and insurance through a subsidiary. [19] [20] [21] [22]
The best boat loan lender may be a personal loan company since they can offer fast and easy financing. Personal loan lenders offer loans as high as $100,000 with terms as long as seven years ...
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