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You might be making a few trip's to the marine store (like I did). You want the cable to make a nice tight turn with the transom, not too tight (or it will bind), not too long ( or the loop will hang off the back possibly getting caught on a dock cleat, or other obstruction).

What I would do: Put everything together, then take a piece of rope and tape it around the boat to where the steering cable should go, then cut the rope to the proper length. This way you will have some idea of the size of the cable that you will need when you get to the Marine store. Hope this helped.