Lenders focus on your debt-to-income ratio (DTI) more than raw income. If your existing monthly debt payments plus the new boat payment stay under 43% of your gross monthly income, you have a reasonable shot at approval. Buying a lower-priced boat, making a larger down payment, or adding a co-borrower with stronger income are the most effective ways to improve approval odds.
Is it hard to get approved for boat financing with a low income?
