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Once you decide to buy a boat, you'll find yourself

wondering how you are going to pay for it. This

type of purchase will involve some type of financing,

whether it's a credit line through the home, an

unsecured loan, or a boat line. Choosing the right

financing source can be just as important as

choosing the right boat.

When choosing a source of financing, there are

several things to consider. The first factor is

how long you plan to keep the boat. If you are

buying a first boat, it'll make more sense to find

a loan that will be flexible enough for an early

payoff via private party or even a trade in.

If you are purchasing the boat of your dreams, you

should expect to have it financed for a long time

which makes it important to get a fixed rate loan

with terms that allow for a low monthly payment.

Another factor you'll need to consider is the

down payment. Most lenders or dealers would like

to see at least ten percent down. Zero down

payments do exist for those with good enough

credit. Normally, the down payment doesn't

significantly change the monthly payment for your

boat loan.

Choosing the right type of boat loan is a very

important part of the entire buying process. You

can start with a boat finance brokerage, which

will show you how each one of the available options

fit into your profile.

Doing this will give you the knowledge and ability

you need to find the loan that best fits you and

your budget. The, you can concentrate on the

important things - taking your new boat out on the