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Updated Oct 16, 2024. What to know first: The best boat loans offer competitive rates and terms to help you quickly finance a weekend water getaway craft or a dreamboat with an affordable...
Interest rates can change a lot depending on the economy, but as of November 2024, you can expect to pay around 7% APR for the lowest boat loan rates.
Boat loans can be unsecured or secured by the boat. Compare financing options from online lenders, banks and credit unions.
Seeking the best boat loan rates? Find the most competitive rates and learn how to choose the best loan for your boat.
Borrowers with strong credit may find boat loan rates as low as 6.25% APR, but many lenders’ rates start around 7%.
Check out the free rate estimator to see what your approximate boat loan rates would be based on the year of the boat, if it’s new or used, the loan amount, and your credit score range. Keep in mind that the best boat interest rates are reserved for the most well qualified borrowers.
The best boat loans have rates under 10%. Depending on the type of loan, your credit, and the amount you need to borrow, boat loans with double-digit rates are common.