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Boats in Michigan
Get on the water with 4.99% APR*
Finance your next boat with confidence and some of the best boat loan rates available. Enjoy 4.99% APR*, 90 days no payments, and one free skip‑a‑payment per year.
Financing You Can Feel Good About
Low Boat Loan Rates
Rates as low as 4.99% APR*
Lower interest rates leave more money for gas, maintenance and storage costs.
Flexible Terms
Pick the loan term that works for you, up to 240 months.
90 Days, No Payments
Enjoy the fresh air and open water with no payments for the first 3 months.
1 Free Skip A Payment per Year
Our boat loans give you flexibility with one free skipped payment per year, on your schedule.
Experienced Team
We have a team of experienced experts who are ready to assist you through the process of acquiring and financing your new boat.
boat loan rates
Boat & Recreational Vehicle Loans
Boats, RVs, Travel Trailers, and Motor Homes
Loan Amount |
Max Term |
APR*
as low as |
|---|---|---|
| Any amount | Up to 120 months | 4.99% |
| $50,000+ | Up to 180 months | 5.99% |
| $75,000+ | Up to 240 months | 5.99% |
*APR = Annual Percentage Rate. Rates shown are the best available, require automatic payments, are based on credit history, and subject to change without notice. Loans requested for more than 80% of collateral value may be subject to a higher rate of interest. Members refinancing existing Christian Financial Credit Union loans are subject to a higher rate of interest. Please see a Christian Financial Service Representative for full details. For example, for a loan of $35,000 at 120 months with an interest rate of 4.99% APR, the payment will be $371.06. **Loan must be current (cannot be delinquent) to qualify for free annual Skip a Payment. Recreational vehicles only. Excludes loans written to covered borrowers under the Military Lending Act. The skipped payment will be added to the end of the loan and will extend the maturity date of the loan. If a scheduled payment for the loan has been set up through Online Banking or initiated by the member at another financial institution, the member is responsible for canceling the scheduled payment. Eligible loans may skip only one payment per calendar year. Recreational Vehicles that skip a payment are not eligible for the Holiday Skip a Payment program. Members refinancing existing Christian Financial Credit Union loans are subject to a higher rate of interest.
boat loan payment estimator
What would my loan payments be?
Boat Loan Features
Our loans come with perks
Apply Online
Apply Online in 5 minutes or less!
Free Annual Skip a Payment
Skip one payment per year for free.
Skip the Trip
Close on your loan digitally through Docusign.
Life Happens
Protect your loan in cases of mechanical failure, a total loss, personal disability, hospitalization and job loss.
Make Payments with Ease
Make a loan payment easily through Digital Banking, even from other banks.
Boat Loan FAQs
How long will my boat loan application be good for?
Shop with confidence using a boat‑loan pre‑approval from CFCU! Once you're approved, your application stays open and ready to use for up to 60 days. If you’re building a new boat, no worries, CFCU gives you up to 90 days to allow for construction, the survey, or Coast Guard documentation. We’re here to help make the process easy from start to finish.
What will I need for a Pre-Approval?
We can absolutely help you apply for a pre‑approval for the amount you’re interested in. We will need proof of income and a few other verification documents along the way.
Am I required to put cash down when I purchase a boat?
Yes! A cash down payment is required, and the exact amount will vary based on how much you choose to finance.
What are the insurance requirements for a boat loan?
You’ll need full‑coverage insurance with a maximum deductible of $1,000. Be sure to list Christian Financial Credit Union as the lienholder. And if you’re financing a trailer, no worries, just make sure that’s covered too.
Do you need to hold my trailer as collateral?
Yes! If your boat comes with a trailer, we’ll simply include the trailer as part of the collateral along with the boat.
Would a survey be required if I decide to purchase a boat?
Purchasing a boat is often a large financial decision and similar to conducting a home inspection prior to purchasing a home, you will want to determine the sea-worthiness of your new boat. In many cases, we will require a SAMS or NAMS accredited surveyor to conduct a boat survey. As part of your application process we will indicate if this is required for your application to be processed.
Can I buy from a private seller?
Yes, a signed Bill of Sale may be needed along with additional documentation.
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Reviews
Don't take our word for it!
“The loan agent was very knowledgeable about boat loans. She gave me a list of everything I needed and everything went very smoothly.”
“The loan process was very quick and easy. Fast responses, all in all great customer service, thank you!”
“CFCU has very competitive loan rates and great customer service, and their financial services representative’s are very friendly!”
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