Missing a payment triggers late fees (typically $25-$50 or 5% of the payment amount) and a hit to your credit score after 30 days. After 90+ days of non-payment, the lender can repossess the boat without a court order in most states including Arizona. Voluntary surrender is an option but still damages credit. Contact your lender early if you anticipate payment trouble.
What happens if I miss a boat loan payment?
