A friend of mine got a loan after l had already put money down on the boat should my name be on the loan or just the title?

There is no title till the loans payed off> And yes you should of as if not he is the only owner of the boat> Hope your good friends for a long time>

dont you wont be buds for long

It takes a strong marriage to own a boat! Most friendships arent that solid. You better have a game plan that BOTH agree to. What happens when one of u run agound & damage a prop, shaft, lower unit hull? What constitutes a shared expense or what r individuals responsable for. Make sure u mesh well on upkeep. l am very anal on maitenance & upkeep. Our current boat is 6 years old with over 1500 hours on the motor, but we still get asked if l just bought it.
l have seen many friends attempt this & have NEVER seen it work out to both parties liking. Usually the one who is the most care free & things dont bother him as much comes out way ahead in the partnership

Don`t DO IT !!

First off dont do it. friends dont stay friends for long, its like shering a woman, it just dont work.