Boat RV and Other Vehicle Loan | Loans | United Federal Credit Union

United offers a fixed rate loan to finance a new or used boat. Have confidence knowing that you won’t be tied down with additional fees. We allow borrowing up to 100% of the value of your boat to help cover expenses like taxes, title fees, and negative trade-in equity. United has no application fee or early payment penalties.

Head out on a new adventure with the marine or boat loan that’s right for you. We can help you buy the boat of your dreams.

Personal watercrafts, like jet skis, are not considered a boat. If you are looking to finance your watercraft, you’ll need a Motorcycle Recreational Loan.

Need a trailer for your boat? We’ve got you covered there too.

A: You must have full coverage insurance with a $1,000 maximum deductible, and have a purchase order or copy of the title available.

If multiple names are on the title, all parties must sign the appropriate paperwork for the loan and lien perfection.

A: Once you have your recreational vehicle, its value is already worth less. Since insurance claim payments are based on the current value of your vehicle, your loan or lease could be higher than the value of your vehicle in the event of a total loss.

Guaranteed Asset Protection (GAP) is an optional product that you may purchase for your vehicle that covers the difference between the outstanding loan balance and the actual cash value of the vehicle in the event of a total loss or theft.

GAP can be added at any time, but it’s most beneficial in the first 18 months of the loan. GAP is valid for one vehicle loan, including any recreational vehicle loan. The coverage cannot be combined across loans.

A: Debt protection is an optional product that helps relieve the financial stress and worry related to making loan payments in the event of death, disability, and/or involuntary unemployment. This protection cancels a borrower’s remaining loan balance in the event of death and loan payment(s) for a specific amount of time per occurrence in the event of the rest.

A: Typically, GAP covers the loan itself and is nontransferable when the loan is refinanced. However, there is a slight chance GAP purchased on a United loan can be transferred if the loan is refinanced to a new United loan.

The ability to request this option will be dependent on the terms of the new loan and if the loan term is extended or not.

A: Yes, GAP can be added at any time to an existing loan with a qualifying vehicle. In most cases, it is most beneficial to add this during the first 18 months of the loan when there is the greatest likelihood of a deficiency balance in the event of a loss.

A: Yes, a boat loan from United covers used boats. Please be aware that a used boat over $75,000 will require a Certified Marine Appraisal to determine the value. A dealer write up or purchase order is not considered an appraisal.