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Finance → Credit → Loans
ANSWERS: 1
  • Official Know-It-All
    A boat is similar to an automobile in that it is a depreciating asset, in most cases. Therefore, the borrower should borrow money for a short term. Short term notes range from five to seven years, with longer terms available for more expensive boat purchases.

    Source:

    BankofAmerica.com: Boat Loans

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