What type of boat can I buy using a personal loan?

Written by

Luke Hilton

Thursday 29th June 2023

A loan could be a great way to fund the purchase of a new vessel. Whether you’re looking for a narrowboat, a luxury yacht or a sailboat, you could spread the cost of your dream boat by using a personal loan.

Your loan could help to fund the full purchase or you could simply use a personal loan to top up your funds, enabling you to buy a more expensive vessel.

Here are just some of the recreational boat types you could buy with a personal loan…


1. Yacht

Yachts are often seen as one of the most luxurious types of vessel, allowing you to live on board as you sail the ocean. They’re typically larger than other recreational boat types and often come equipped with additional amenities you wouldn’t find on other types of boats.

2. Cabin and non-cabin cruiser

Cruisers are often smaller boats designed to provide a fabulous day out on calm waters rather than a place to stay on a family holiday.

3. Narrowboat

Narrowboats are a great way to cruise the narrow canal locks of Britain. They’re an ideal option for those wanting to tour the country in a more unusual way, or for shorter weekend adventures on the water.

4. Sailboat

As the name suggests, a sailboat is a type of vessel that is propelled primarily by wind blowing against its sails. As sailboats are typically smaller than yachts, they’re most suited to sail in areas with shallow waters.

5. Motorboat

Motorboats (often also called speedboats or powerboats) are powered by an engine. They’re a great way to explore the open water, with plenty of options available to suit your perfect type of adventure.

6. Fishing vessel

Fishing boats come in all shapes and sizes, designed specifically for different types of fishing. This type of boat could help fishing enthusiasts take their hobby to the next level.

7. Personal watercraft

Often referred to as a jet ski, a recreational watercraft is a fast and fabulous way to ride the waves at speed. Think of it like a motorcycle experience on the water – perfect for thrill-seekers looking for a new activity.

8. Rowing boat

A rowboat is propelled by oars alone, making it a popular choice for keen rowers or sporting enthusiasts.


Ready to buy your dream boat?

Not only can you choose the type of boat you buy when you take out a personal loan, but you can also choose where you buy your boat from. Buy new or used boats from a private seller or a dealership. It really is up to you though, of course, it’s recommended you conduct thorough research before buying any vessel.

Turn your dreams into reality with a personal loan. Borrow up to £35,000 and spread the repayments over 2 to 7 years.

Written by

Luke Hilton

Luke Hilton is a Warrington-based email content writer and designer in the financial services industry. He enjoys mixing analytics and creativity and can usually be found with his head buried in stats, piecing together the patterns that make good content. In his spare time, the drive to figure things out continues with what can only be described as a love-hate relationship with DIY. With a keen love of the outdoors, Luke is usually up a mountain somewhere or in his garden growing his own oasis.

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