Individual
List your own income and properties.
Joint
Includes both persons income and properties.

How to get a boat loan

When you want to purchase your dream boat through a loan facility, it is important to evaluate various lenders and select one with the best rates. It is also crucial to deal with banks and other financial institutions affiliated with the National Marine Banker's Association to get the best rates and even get advice on where to buy the best boat. This article explains various places you can approach when you want to finance your boat purchase through a loan.

  • Credit unions. If you are a member of this association, check whether they extend loan facilities to their members to purchase boats. You should also enquire about their terms and conditions to assess whether they are favorable for you.
  • Banks and other financial institutions. You should approach various banks and other financial institutions to check whether they offer boat loans and at what rate. Ensure that the banks and other financial institutions are affiliated with National Marine Banker's Association to get the best deal.
  • Boat dealers. Check whether these dealers allow customers to buy boats on loans and at what rate. Also try to enquire from these dealers whether they have any arrangements with banks for boat financing by their customers.
 
 
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