fbpx Skip nav to main content.

Boat Loans

Set Sail with Boat and Wave Runner Loans from PDCU

Apply for a Boat Loan

If It Floats, We Finance It.

Ready to make a splash on the water? People Driven Credit Union (PDCU) offers specialized loans to help you finance your dream boat, jet ski, or wave runner. With competitive rates, flexible terms, and a streamlined application process, we make it easy to enjoy the water adventures you’ve always wanted. Whether cruising the inland lakes of Michigan or speeding across the waves of Lake Michigan, People Driven Credit Union is here to support your aquatic lifestyle. Dive into our financing options today and get ready to hit the water with confidence.

Membership and eligibility requirements apply, with approval subject to application, credit, and property considerations.

No Payment for 90 Days* on Boat Loans

Embark on your next adventure on the lake with ease with our specialized boat loans at People Driven Credit Union. We understand the thrill of the open water and are here to make your boating dreams a reality.

Apply Online Now

Whether you’re cruising the rivers in Michigan or exploring scenic lakes, our tailored loan options offer competitive rates and flexible terms to suit your needs. Get ready to start your voyage today with PDCU’s boat financing solutions!

Get Pre-Approved for a Boat Loan

Get pre-approved for your boat loan with People Driven Credit Union and shop confidently. Instead of haggling over financing, focus on finding the perfect vessel.

Get Pre-Approved

With branches and ATMs easily accessible around Metro Detroit and Southeast Michigan, PDCU is your trusted partner for boat financing.

Recreational Vehicle Loan Rates

Rates Effective as of: 09-08-2024
Term Term Rate (APR)
Up to 60 Months As low as 7.24%
61-84 Months As low as 8.25%
85-120 Months As low as 8.60%
121-180 Months As low as 9.20%

Loan and financing rates for motor homes, campers, boats, motorcycles, ATVs and snowmobiles. Add 1.00% to applicable rate on loans with collateral that is 11 to 15 years old. PDCU may consider doing a loan with collateral that is older than 15 years (on an exception basis only), in which case 2.00% would be added to applicable rate.

Calculate Your Monthly Boat Loan Payment

Monthly Payment

Loan Amount
$
%
Term Months
Apply Now

Use of a calculator is not a guarantee of credit and is a estimate.

Frequently Asked Questions

People Driven finances motor homes, campers, boats, motorcycles, ATVs and snowmobiles!
You may give us a call at 248-263-4100 to speak with the loan department.
Yes!  All eligible loans can be skipped once per calendar year for a fee of $35. Fresh Start Auto Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards are excluded.
  1. To make a payment via online banking with funds already in your account, log in and select 'transfers'. Select where you want to transfer from and which loan you would transfer to.
  2. Log into iTalk (telephone teller) and make your payment. Option 3 for payments.
  3. To make a payment with a debit/credit card, call (248) 263-4100.
  4. Set up an auto-transfer from your People Driven account or attach an auto payment to your direct deposit that comes into your account. Give us a call at (248) 263-4100 or stop by any of our five branches.
  5. Have us set up an auto-payment from your other financial institution. Please call us at (248) 263-4100, and we can send you the proper form, or you may stop by any of our five branches.
  6. You may also mail in a check payable to People Driven Credit Union, 24333 Lahser Rd, Southfield, MI 48033
GAP (Guaranteed Asset Protection) covers the difference between the cash value of your vehicle and the balance owing if the car is deemed a total loss, up to 150% LTV. GAP is a $575 one-time fee that can be rolled into the loan or paid in cash. GAP also provides a $1000 credit towards the next vehicle you finance through PDCU and unlimited auto deductible claims for up to five years, up to $500 per claim for any vehicle you own and insure.
  • Covers the difference between the outstanding loan balance and the actual value (determined by the insurance company) of the auto up to the max LTV.
  • Covers total loss AND unrecovered theft
  • May cover up to $1000 of the deductible if there is a gap after the insurance pays
GAP insurance is offered during the auto loan process.  Please call us at (248) 263-4100 for more information.

Disclosures

*Rates could be higher for older motorcycles. APR may differ based on loan purpose, amount, term, and member’s credit score. A down payment may be required. Other terms and conditions are based on Loan to Value. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. For more information, see disclosures below. (90-day no payment may be limited depending on term).

*Certain limitations may apply. Please consult with a representative for further information. Loans are exclusively available for motorcycles. Membership with the Credit Union is mandatory for loan disbursement. For 30, 60, or 90-day no-payment loans, interest will commence accruing upon loan disbursement and will be spread out over the subsequent monthly payments.

**APR = Annual Percentage Rate: The actual APR and loan term are subject to approval and may be determined upon the borrower’s creditworthiness, the amount borrowed, and the type, value, age, and condition of the collateral offered to secure the loan (when applicable). Rates are effective as of today and are subject to change.

Special Loan Rate Discount: Benefit from a 0.25% reduction when enrolling in our AutoPay service. The discount is available to those with Direct Deposit of payroll, social security, or retirement and AutoPay setup from a People Driven Credit Union checking or savings account.

Payment Example: Monthly payments of $20.00 for each $1,000 borrowed at 6.55% APR for 60 months.

Rates are higher if older than 10 years. Motorcycles older than 15 years are financed on an exception basis only.