A boat loan can be backed by assets other than those purchased with the loan, such as term deposits.

Name: A boat loan can be backed by assets other than those purchased with the loan, such as term deposits.
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It is possible for a boat loan to be secured by assets other than the boat itself, such as a term deposit. This is known as a secured loan, where the lender uses collateral to minimize risk.

A Boat Loan Can Be Backed by Assets Other Than