For Our Financial Strength And Superior Service
Boat Loan
Whether you're looking to buy a new or used boat, flexible rates and terms are available:
New Boat Loans feature:
- Repayment terms from 12 to 240 months
- 90% financing is available
- For 12 to 60 month term, minimum loan is $5,000
- For 61 to 72 month term, minimum loan $10,000
- For 73 to 84 month term, minimum loan $20,000
- For 85 to 96 month term, minimum loan $30,000
- For 97 to 144 month term, minimum loan $35,000
- For 145 to 180 month term, minimum loan $40,000 (a)
- For 181 to 240 month term, minimum loan $50,000 (a)
- To qualify as new, vessel must be current model year or 1 prior model year, untitled/undocumented.
- Inflatable boats and personal watercraft (i.e., jetskis, skidoos) are not eligible to be financed as a boat loan.
- TFCU does not finance new boats purchased from dealers located outside of the 50 United States.
- TFCU does not finance boats purchased at auction.
Apply! (Fixed Rate) >Apply! (Var Rate) >
(a) To be eligible for financing for 145 up to 240 months, the following requirements must be met:
- The vessel must be equipped with sleeping, cooking, and bathroom facilities.
- A first ship's preferred mortgage must be recorded with the Coast Guard.
- The vessel must meet the requirements for a home mortgage interest deduction by qualifying as a "second home" in accordance with the Internal Revenue Code.
Used Boat Loans feature:
- Repayment terms from 12 to 240 months
- 90% financing is available
- For 12 to 60 month term, minimum loan is $5,000
- For 61 to 72 month term, minimum loan $10,000
- For 73 to 84 month term, minimum loan $20,000
- For 85 to 96 month term, minimum loan $30,000
- For 97 to 144 month term, minimum loan $35,000
- For 145 to 180 month term, minimum loan $40,000 (a)
- For 181 to 240 month term, minimum loan $50,000 (a)
- To qualify as new, vessel must be current model year or 1 prior model year, untitled/undocumented.
- Inflatable boats and personal watercraft (i.e., jetskis, skidoos) are not eligible to be financed as a boat loan.
- TFCU does not finance used boats purchased from dealers located outside of the 50 United States.
- TFCU does not finance boats purchased at auction.
Apply! (Fixed Rate) > Apply! (Var Rate) >
(a) To be eligible for financing for 145 up to 240 months, the following requirements must be met:
- The vessel must be equipped with sleeping, cooking, and bathroom facilities.
- A first ship's preferred mortgage must be recorded with the Coast Guard.
- The vessel must meet the requirements for a home mortgage interest deduction by qualifying as a "second home" in accordance with the Internal Revenue Code.
New and Used Boat Refinances
- Must have at least 24 months remaining on the loan being refinanced
- Cannot exceed existing term of loan being refinanced
- New and Used boat rates apply, depending on review of title and original purchase agreement/loan agreement
- To qualify as a new Boat refinance, the vessel must be current or 1 prior model year old, have been purchased as new, and the refinance must be completed within 12 months of the original purchase date.
- Not eligible for sale or promotional rates
- Inflatable boats and personal watercraft (i.e., jetskis, skidoos) are not eligible to be refinanced as a boat loan.
For more information, visit any of our conveniently located branches, or call (631) 698-7000, extension 6790.
All rates and terms are subject to change without notice.
Featured Rates
| New Boat Loans | APR* |
|---|---|
| up to 60 months | 4.24% |
| 61-72 months | 4.24% |
| 73-84 months | 4.79% |
| 85-96 months | 5.75% |
| 97-144 months | 5.75% |
*APR = Annual Percentage Rate. All rates are subject to change without notice.
90% Financing
61-72 Mo. Minimum Loan $10,000
73-84 Mo. Minimum Loan $20,000
85-96 Mo. Minimum Loan $30,000
97-144 Mo. Minimum Loan $35,000
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