Question by Brendan G: How difficult is it to get a boat loan …?
assuming good past credit and a loan in the 50-70K range for a 1970s fiberglass sailboat with a good survey?

Just a general sense would be helpful, as I have no specific boat in mind as yet.

Best answer:


Well it of course depends on how good or bad your credit is…

But all so plan on having at least 10% down and A survey is generally required for boats older than 5 model years.

Most finical institutions only provide financing for boats of fiberglass or metal construction. Boat loan requests of less than $ 100,000.00 must be less than or equal to 10 years of age. Boat loan requests of more than $ 100,000.00 must have been manufactured after 1975. In addition, boats used as a primary residence, in commercial trade, or fleet service are not eligible for financing.

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