Best Boat Loans for December 2024

Why You Should Trust Us

Investopedia collected and analyzed hundreds of key data points from 59 companies across three months to identify the most important factors for readers choosing the best personal loan for a boat purchase.

We used this data to review each company’s fees, repayment terms, income requirements, and other features to provide unbiased, comprehensive reviews and ensure our readers make the best decision for their financial needs. Investopedia launched in 1999 and has been helping readers find the best personal loans since 2020.

Methodology

To evaluate and rank personal loan providers for boat loans, we collected and scored over 2,600 data points from 59 lenders, including traditional banks, credit unions, fintechs, and finance companies. We researched and evaluated 45 criteria, such as APRs, loan amounts and terms, fees, customer experience, etc. Research and data collection occurred from July 23 to October 18, 2024. 

We organized the 45 criteria into four categories and weighted 26 (involving more than 1,500 data points), using the others for background and editorial richness. We then scored and weighted each criterion to develop our overall star rating for each lender. The categories and their weights for this project are:

• Loan Costs: 30.00%
• Borrowing Requirements: 24.00%
• Lender Features: 24.00%
• Loan Terms: 22.00% 

Learn more about how we evaluated personal loans in our complete methodology.