How long is the term of boat loan?
The length or term of your boat loan can vary from 1 to 10 years, in some instances for large boat loans you’ll see 30 year terms. You need to remember that the longer your term is the more you’ll pay in interest, longer terms do lower your monthly payment, but increase the amount you pay in the long run. To get the most out of the equity in your boat loans should be paid off as quickly as possible.
