Boat Loans

Anchor your dream boat with our affordable boat financing! Enjoy a fast loan decision, no fees, great rates, flexible terms, and other benefits that make it easy to hit the water fast. Apply for a boat loan today to set sail on your next voyage.

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Cruise into Savings with Benefits You’ll Love

Is the water your happy place? With our affordable and flexible boat loans in Ohio, you can quickly buy the boat of your dreams to have epic fishing adventures, go water skiing, enjoy scenic cruises, or spend leisurely days relaxing. The choice is yours! Apply for a boat loan today to start making new memories with your friends and family on the open water!

 
 

Competitive Rates

Save on interest! We have better rates than other boat financing options.

 
 

Flexible Terms

Terms of up to 84 months are available to get payments that work for your budget.

 
 

No Closing Fees

Save even more on boat financing! No closing costs mean you get to keep more of your money for fun on the water.

 
 

No Prepayment Penalties

Make extra payments to pay off your loan faster and to save money on interest.

 

Boat Loans

Our boat loans take the hassle out of financing! Get on the water fast with flexible rates and terms that make boat ownership work for many budgets. There are also no application or closing fees, which puts more money in your pocket for your boating adventures.

The application process is smooth sailing, and it only takes a few minutes to apply. If you have a question during the loan process, we’re just a phone call away. Apply for a boat loan today to start making waves with exciting new adventures!

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A man is fishing on the boat he bought with an OUCU Financial boat loan.

 

Additional Features

 

Skip-a-Pay Option

Skip up to two payments per year if money is tight with our Skip-a-Pay Service. Up to 5 payments can be skipped over the duration of your loan.

Simple Application Process

Conveniently apply online, by phone, or drop by a local branch. Our application is short and hassle-free.

Fast Loan Decisions

Get on the water fast! We’ll give you a quick loan decision so you can start shopping for the perfect boat.

 

Optional Credit Life & Credit Disability Insurance

Add optional insurance to your loan to make sure your loan payments will be made for you if you can't due to an accident, injury, or death.

Loan Pre-Approval

Get an estimate of how much you qualify to borrow before you go shopping so you can focus on the boats you know you can afford.

Personalized Service

We’ll support you every step of the way during the loan process and beyond. We want to see you buy the boat of your dreams!

 

Boat Loan Rates

  Rate Term Closing Fees Prepayment Penalty Skip-a-Pay Option
Boat Loan As low as 7.85% APR* Up to 84 Months None None Yes

*APR = Annual Percentage Rate. On a $10,000 for 48 mo at 7.24% APR monthly payment would be $240.53. Subject to credit approval. Your rate may vary. Late fee: If you make a payment 10 days or more after the due date, you may be charged 5% of the monthly payment amount.

 

Applying for a Boat Loan Is as Easy as 1-2-3!

 

Step 1

 

Submit an Application

Conveniently apply online, by phone, or drop by a local branch. Our application only takes a few short minutes to complete.

Step 2

 

Loan Approval

We’ll review your application, crunch the numbers, and reach out to you with a loan decision.

Step 3

 

Close on the Loan

Have the boat dealer send us a purchase agreement and we'll help you with the closing. Sign on the go from anywhere or in the branch!

 

Get Started

 

Tools & Services

OUCU Financial Boat Loan FAQs

What types of boats can I finance with a boat loan?

Many different types of boats can be financed, including fishing boats, pontoon boats, catamarans, sailboats, trawlers, and many others. If you aren't sure, just ask!

What credit score is required for a boat loan?

A credit score of at least 650 is preferred for boat financing, although lower scores will be considered. At OUCU Financial, we take a “big picture” approach to loan approval, and your credit score is just one of several factors that will be considered. We will also look at your employment history, income, current debts, and other factors when making a loan decision.

Can I use a boat loan to purchase a used boat?

Many used boats can be financed. Loans are subject to the age, condition, and current market value of the used boat you are buying.

Do boat loans have fixed or variable interest rates?

Our boat loans have fixed interest rates, which is helpful with budgeting. Your interest rate will remain the same throughout the term of the loan and you will have predictable monthly payments.

Can I get pre-approved for a boat loan?

Yes, pre-approval is a great way to find out how much you qualify to borrow before you start shopping for a boat. It can help you save time by focusing on the boats you know you can afford. We’ll do a preliminary review of your finances and give you an estimate of how much you can borrow.

How do boat loans compare to personal loans for financing a boat?

A boat loan can save you money! Personal loans are unsecured loans, which means they are not backed with collateral. Loans that don’t use collateral typically have higher interest rates than boat loans, which use the boat you are buying as collateral. 

Do I qualify for membership with OUCU Financial?

OUCU Financial membership is open to anyone who lives, works, worships, or attends school in one of the following counties: Athens, Fairfield, Hocking, Meigs, Morgan, Perry, Vinton, and Washington. Membership is also open to anyone who is an Ohio University or Hocking College employee (active and retired or any student or alumni). Anyone who works for a partner company or anyone who belongs to one of the following associations may also become a member: Ohio University Friends of the Libraries, Athens Friends of the Library, Athens County Area Beekeepers Association, Athens Amvets Post 76, Albany Amvets Post 93, Athens Country Club, Athens Elks, Athens Masonic Bodies, Career Connections Alumni Association. Family members of current AND eligible members can also join. This includes parents, siblings, aunts, uncles, cousins, grandparents, in-laws, and others.

 

 

We’re Here to Help! Call Us with Any Questions

 

 

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