Boat Loans with Bad Credit: Set Sail Towards Your Aquatic Dreams

What credit score do you need for a boat loan if you have bad credit?

There are no universal minimums when it comes to credit scores required to get approved for a boat loan. Lender eligibility requirements will vary. Offers will be more likely to be returned for borrowers with fair, good, average, or excellent credit. Most lenders on the Acorn Finance platform have a credit score cutoff of 600 or above.

Should I finance a boat even if I have bad credit?

Financing a boat with bad credit is a personal decision. Only you know how much room you have in your monthly budget and how much joy a boat could bring to your life.

How much interest will I have to pay on a boat loan if I have bad credit?

As with credit scores that a lender is willing to work with, there are no standard interest rates that come with a bad credit boat loan. You can expect to see double digits, though, in some cases.

How much do I have to put down if I want to finance a boat and have bad credit?

Down Payment amounts for bad credit boat financing can vary, but often the money that is put down on a boat loan falls in the 10%-30% range. If you have bad credit, you may have a better chance at approval if your down payment is on the higher end of that spectrum.

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Before your mind gets lost at sea dreaming of the biggest, newest, shiniest boats – reel it in. In order to realistically qualify for a boat loan with bad credit, in addition to a larger down payment, you’ll likely have to settle on something affordable.

If you don’t have any downpayment and want to explore your options for financing a boat with bad credit OR if you need financing for your boat down payment, consider applying for a large personal loan for bad credit.

Why choose Acorn Finance for boat loans if you have bad credit?

Personal loans can be used to finance a boat or finance a down payment. At Acorn Finance you can check boat loan offers up to $100,000, depending on credit score.

Our user-friendly platform is safe, secure, and designed to help you find real loan offers. Checking for offers takes less than two minutes with no impact to your credit score. With access to our network of top national lending partners, you can expedite the process of finding a competitive loan in a hurry. Get started with a little bit of information. Shopping for an apartment and moving is a big enough headache, let us simplify the process of finding a loan that works for you.

How to apply for boat loans if you have bad credit:

If you choose to use a personal loan for boat repair or purchase, visit Acorn Finance.

#1. Go to Acorn Finance online

Start your search on our 100% safe platform.

#2. Get prequalified

Fill out our simple form and click submit to check personalized offers with no credit impact.

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#3. Compare offers to choose the best one

Compare offers from top national lending partners side-by-side and choose the one that works best for you.

#4. Complete the application with the lender

Once you’ve selected an offer, work with the lender of your choice to finalize the application process.

#5. Receive funding

Once approved, the lender can issue funds. Our lending partners can fund loans in as little as 1-2 business days, although funding times can vary.