Get started today on your low-rate boat loan!
Is now a good time to get a boat?
Our low-rates are available on more than traditional auto loans. We extend easy financing for your boat as well! Have some fun with the help of ACCU financing! We offer financing for a wide range of new1 and used2 vehicles.
Boat Loan Features:
- Terms up to 144 months (12 Years)3
- Up to 80% of MSRP on purchases through a dealer or private party value on NADA® private sales
- Pre-Approvals for additional buying power
- GAP coverage & Mechanical Breakdown Insurance available
- Skip-a-Payment option available
- 0.50% rate discount with automatic payments3
- Loan Protection Services available
The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Use our loan payment calculator to determine the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule.
This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not imply that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. This calculator is not an offer of credit nor a guarantee of approval.
Do I need to be an America’s Christian Credit Union member to apply for a boat loan?
You don’t need to be a member to start a boat loan application. However, you’ll need to qualify for and complete membership to finish the process. We are all about a life-long relationship – and there are discounts for automatic payments through our checking accounts – so if you want to get membership started first (it’s quick and easy), you can do so here.
How do I refinance a boat loan?
Refinancing your boat is an easy way to lower your loan interest rate and monthly payments. You’ll need the right information and documents (mileage, VIN, current loan numbers, driver’s license, and income verification), then we’ll take it from there.
We will need to check your credit history and then let you know whether you qualify for a lower interest rate or lower your payment (depending on your goals). If you do, they’ll work with you to run the numbers and set your new loan term to a lower monthly payment. Schedule a consultation with one of our loan officers to discuss available refinance options.
What kind of credit score do you need to get a boat loan?
The credit score you need to get a boat loan depends on the lender. While a credit score is what determines your rate and term, it does not solely determine whether you are approved for a loan or not. If approved, your exact rate will be set based on several factors, in addition to your credit score.
However, credit history (credit score) is one of the main factors that lenders consider to determine loan approval. It shows them whether the borrower is high or low risk. Most financial institutions will look at the borrower’s industry-specific auto FICO® Score and their base FICO® Score from the one (or all three) consumer credit reporting bureaus: Equifax®, Experian®, and TransUnion®. ACCU uses Experian® as our bureau of record.
A borrower’s credit score doesn’t just determine the loan approval and term; it also affects the interest rate the borrower is given. While a borrower may find a boat loan lender willing to accept a lower credit score, the borrower’s interest rate will likely be two to five times higher (we have seen up to 24%) than those with average or excellent credit.
1 – A new auto is considered to be a vehicle whose model year is up to one year older than the current calendar year or newer.
2 – A used auto is considered to be a vehicle whose model year is more than one year older than the current calendar year. Used vehicles are subject to Kelley Blue Book®’s valuation.
3 – APR = Annual percentage rate. Loans subject to credit approval. Actual APR based on creditworthiness. Not all applicants will qualify or qualify for the lowest rate. See current rates and terms. Membership required–based on eligibility. Advertised “as low as rate” APR assumes excellent credit history and maximum rate discount of 0.50% for ACH/automatic payment. Your actual APR may vary based on loan type, your credit history, ability to repay, approved loan amount, term, and applicable discounts. Additional discount of 0.25% available for debt protection insurance. For example, a $5,000 loan with a term of 60 months at 6.49% APR is approximately $19.56 per $1,000 borrowed. Actual payment will vary based on the total amount financed. Rates, terms, and conditions are subject to change without notice. Additional restrictions apply. For small recreation vehicles, we may finance up to 90% of MSRP or NADA retail value plus tax, license and service contract. For large recreation vehicles, we may finance up to 80% of MSRP or NADA retail value plus tax, license, service contract, and GAP. A one-time $25.00 loan funding fee will be applied to the loan’s principal balance upon acceptance of qualified rate and terms. This will increase the principal balance and effective APR. Must qualify for membership. A $2.00 membership fee may apply.