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Pictures of a kayak, boat, and jet ski financed with a boat or recreational loan

Boat Loans

Boat Financing Option

Getting Out on the Water
Whether you’re ready for a boat, jet ski, tracker boat, ranger boat, canoe, kayak—or your first yacht!—getting financing is your first stop. Our friendly staff can talk to you about which loan matches your needs, walk you through applying for a loan, answer your questions about boat interest rates and information on financing, and even help you with the application itself. 

Boat Financing
When buyers consider financing a boat purchase, their biggest questions are in the details: What are boat financing rates? How do I get pre-approved? Can I get a loan with zero down? How easy is it to apply for—and get approved for—a boat loan? And typically how long is a boat loan? Many of the answers depend on your individual circumstances, finances, savings, income, and other factors. We’ll cover them quickly and simply when we meet with you, explain how financing a boat works, see if you qualify to be pre-approved, and give you options to fit your budget and lifestyle. You can start with an idea of your payments using our Boat Loan Calculator, below.

Boat Interest Rates
Most loan rates vary with your personal financial information, including income, savings, and credit standing. The range of our current rates is available below, where we show the lowest possible rate. The rate you pay will vary, depending on the details of your application, including credit history. Considering a jet ski? Check out our Recreational Loan rates.

Living Smarter 
When you meet with one of our representatives, we’ll help you find a solution for your needs. Summer is calling, so get started today by submitting the form below to make an appointment.

Fill out my online form.
 

Not sure which term is right for you?

Check out our helpful loan comparison calculator.


Boat Loan Comparison Calculator

2014 & Older

Term APR
12 Month as low as 4.20%
120 Month as low as 6.00%
24 Month as low as 4.20%
36 Month as low as 4.30%
48 Month as low as 4.40%
60 Month as low as 4.50%
72 Month as low as 4.75%
84 Month as low as 5.00%

2015-2017

Term APR
108 Month as low as 5.00%
12 Month as low as 3.70%
120 Month as low as 5.50%
180 Month as low as 6.50%
24 Month as low as 3.70%
36 Month as low as 3.80%
48 Month as low as 3.90%
60 Month as low as 4.00%
72 Month as low as 4.25%
84 Month as low as 4.50%
96 Month as low as 4.75%

Loan rates and terms are determined by overall credit history and are subject to change without notice. Applications are subject to credit approval. Loan to value is determined by credit score.

Monthly payments for a 5 year new boat or motor home loan would be $18.42 per $1,000 borrowed.
Monthly payments for a 5 year used boat or motor home loan would be $18.65 per $1,000 borrowed.

*Federally insured by NCUA. Membership and credit requirements apply. Rates and terms determined by overall credit history and subject to change. Supporting dreamers everywhere. By submitting your email, you give First Source permission to send you informative and promotional emails, including information on upcoming events, products, and services. You may change your designation at any time in the future.