Buying a boat is one of those purchases that a person looks forward to for a long time. Not only does it provide a lot of fun, boating can become a way of life for some people. Buying a boat is also an investment. That is why it is important to ask plenty of questions so you can find a boat that fits your specific needs.

1. Why Do I Want A Boat?

Do you like fishing? Zipping over the waves at high speeds? Hearing the snapping of sails in the wind? There are many different types of boats, each one designed for specific things. Before you can get a loan, you need to consider all of your options. Before you do that, you really should think about how you plan on using your boat. This will help to guide your choice as you shop around for the best one. Keep in mind: It’s not necessarily about finding the “best” boat. It’s about finding the boat that fits your needs.

2. Does This Boat Fit My Needs?

As mentioned above, boats are designed with a purpose in mind. If you like fishing, a center console boat is ideal. If you want to stick to the back bays to go water skiing, you do not want to get a 64-foot Viking. Boats made for offshore activities are not the same as ones designed for back bay activities. In other words, it is important to not only think about what you plan on doing with your boat, but also the size and what it was created for.

When speaking with the seller, it is important to be upfront about your needs.

Can I Get A Boat Loan?

3. Can I Get A Boat Loan?

Most buyers will finance their purchase to some extent, as it is difficult to lay down such a big sum of money at one time. However, before you make a decision, you will need to figure out if you can qualify for a boat loan. Once you have found a boat, take a moment to review your credit history. Any outstanding debt will play a crucial role in your eligibility and the kind of loan you can receive.

Atlantic Horizon Capital can finance most credit situations, but banks are generally looking for a credit score of 680 or higher. In order to get a preferred rate, you need a score of over 740.

4. Are There Other Costs To Owning a Boat?

Yes, there other costs. Keep this in mind when shopping around for a boat. Some of these additional costs, such as fuel, slip fees, storage, and winterization, are minor but do add up over time. Repairs and upgrades may also be necessary. There is also the cost of registering and insuring your boat, which can be pricey. Of course, all of these extra fees are offset by how much fun you will having on your boat!


“Can I get a boat loan?” and “Does this boat fit my needs?” are just some of the more important questions that you ought to ask before buying a boat. A little bit of preparation and forethought can go a long way. When you do find the boat that is right for you, we hope that you will enjoy years of pleasurable marine leisure. Of course, if you want to know a little more, you can always contact Atlantic Horizon Capital to ask questions or to arrange the financing of your new vessel.

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