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Boat loan coding on credit report

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CreditFun
Regular Contributor

Boat loan coding on credit report

How does a boat loan show up on a credit report?  Is it coded specifically as a boat loan?

Message 1 of 4
3 REPLIES 3
blindambition
Senior Contributor

Re: Boat loan coding on credit report

That is going to depend on type of loan you choose. There's multiple options. There's marine financing through companies who specialize in that. Not sure on reporting.

Theres secured loans through bank/CU. They can code as boat/recreational.

Theres unsecured through bank/CU. They can code personal loan.

Some use Home Equity loans. So depends on method.

Message 2 of 4
M_Smart007
Legendary Contributor

Re: Boat loan coding on credit report

I had a Boston Whaler Boat that showed up as an "RV" loan ...LOL

I think it was due to the financing being through a RV/Boat Dealer. 🤷

Message 3 of 4
Anonymous
Not applicable

Re: Boat loan coding on credit report

Well a boat is a vehicle for recreation right? 😁
Message 4 of 4
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