Excel Credit *** We Finance Fun *** Have Some!!! - 800-337-7774 - We will help you secure your boat loan with financing from $25,000 to Ten Million Dollars. We offer terms up to 20 years. No Doc Stated Income and Low Doc Boat and Yacht Loans. Excel Credit, specialists in boat & yacht financing

SeaDream Boat Loans and Boat Insurance is the premiere West Coast brokerage for boat loans and boat insurance. Their goal is to help you achieve your nautical dreams by providing you with the best service for your boat financing and insurance needs.

Essex Credit is America's leader in pleasure craft financing and offers boat loans with the lowest rates and the best terms available. With eight regional offices located in major boating areas, they offer personalized and efficient service from the initial application to the post closing paperwork.

Oak Hill Financial specializes in financing and refinancing new and used boats and yachts of all sizes. With an Oak Hill Financial loan you can expect no points, no loan prepayment penalties, terms to 20 years, simple interest, fixed rates, Coast Guard documentation and personal service. We fulfill loans for clients across the U.S.

Boat Loans: Important Information

Simply By declaring your boat a second home may allow you to deduct your boat loans interest on your taxes. Prior to doing this, check with your tax professional.

A boat loan may offer advantages over paying cash for your boat but be sure you check with a tax professional since your boat, and your use of the boat, must meet certain criteria prior to deducting your boat loans interest.

The second-home interest deduction for the interest paid on boat loans is the biggest tax deduction for recreational boating. It can be used on runabouts with tiny cuddy cabins all the way up to mega-yachts. Boat manufacturers take these tax deductions into consideration when they install heads, bed and galleys on small boats.

Living on a boat is not required to deduct the interest generated by boat loans. All that is required needed is a sleeping area, head and some form of galley. Additionally, up to this time the IRS appears to require some indication that the owner stays overnight on the vessel at least 14 days a year.

Not only is it possible to deduct your boat loans interest, it may also be possible to deduct registration fees and state taxes.

The savvy boater should definitely check with his tax professional to find out if he can deduct his boat loans interest.

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