Boat Loans

Make a splash and save with low-rate boat loan

Whether you’re heading out for a day on the lake, fishing with friends, or simply soaking up some sunshine, we make it easy for you with flexible options and low rates on new or used boats. Purchase from a dealer or private party, or refinance and save. We offer financing for various models and types of boats, including saltwater, fishing boats, sailboats, yachts and more.

With low rates, simple terms and affordable payment options, you’ll be on your way and ready to set sail to the open sea in no time.

Key Features

Competitive rates

With low, fixed payments

Flexible terms

Up to 180 months

No pre-payment penalties

Pay off your loan early if you need to

Purchase or refinance options

Buy from a licensed dealer, private party, or save on an existing loan

Budget-friendly payments

Fast and easy payment methods, plus rewards for on-time payments²

Insurance and payment protection

Cover your boat in the event of mechanical breakdowns, financial loss and more — get your quote today

New Boat Rates

Rates Effective 01/01/2024

ID	Term	Minimum Amount	APR Range¹	Rate Effective Date	Loan Amount	Loan Type	Low Rate	High Rate	Display Term	Default Display Rate	Rate Type New Boat Example
17962	up to 60 months	$5,000	7.95% to 19.45%	01/01/2024	$5,000	New Boat	7.95	19.45		7.95	60 months: $20.32 per month per $1000 borrowed at 7.95% APR; 72 months: $17.64 per month per $1000 borrowed at 8.10% APR; 84 months: $15.69 per month per $1000 borrowed at 8.10% APR; 120 months: $12.50 per month per $1000 borrowed at 8.60% APR;180 months: $10.15per month per 1000 borrowed at 8.95% APR
18210	61 to 72 months	$15,000	8.10% to 19.10%	08/12/2023	$15,000	New Boat	8.10	19.10	180	7.15
18230	73 to 84 months	$25,000	8.10% to 19.10%	08/12/2023	$25,000	New Boat	8.10	19.10	180	7.15
18239	85 to 120 months	$25,000	8.60% to 19.10%	08/12/2023	$25,000	New Boat	8.60	19.10	180	7.75
18267	121 to 180 months	$50,000	8.95% to 18.95%	08/12/2023	$50,000	New Boat	8.95	18.95	180	8.25

Used Boat Rates

Rates Effective 01/01/2024

ID	Term	Minimum Amount	APR Range¹	Low Rate	Effective Date	High Rate
18189	up to 60 months	$5,000	8.45% to 19.45%	8.45	01/01/2024	19.45
18219	61 to 72 months	$15,000	8.60% to 19.10%	8.60	07/12/2022	19.10
18236	73 to 84 months	$25,000	8.60% to 19.10%	8.60	14/03/2023	19.10
18244	85 to 120 months	$25,000	9.10% to 19.10%	8.65	07/12/2022	18.65
18273	121 to 180 months	$50,000	9.45% to 18.95%	9.00	04/08/2023	18.50

Frequently Asked Questions

How long does it take to get pre-approved?

You can choose to apply online, or with a Patelco team member at a branch or online through our Patelco Virtual Branch^™^. The application takes minutes to complete.
After you apply, a team member will review your application and reach out within 2 – 3 business days with an update.

How does the process work if I want to buy from a private party?

The process is simple:

Submit an application online or with a team member
We’ll review your application
Send any documents requested by your loan funder
Once approved, you’ll receive a convenience check made payable to the seller of the boat you want to purchase
Provide the check to the seller and drive off as the proud new owner!

Does Patelco offer special discounts on boat loans?

Aside from any dealership promotions offered, you may be eligible for additional rate reductions after closing with LevelUp, just for making on-time payments on your loan. Speak to one of our team members to see what’s available.

Can I buy directly from a dealership?

Yes. We recommend getting pre-approved in advance, so once you find the type of boat you want, it will be easy to purchase straight from the dealership.
It’s good to have a price range in mind, along with your down payment amount so we can determine what you qualify for and how much you’ll need to borrow. Once approved, we will issue you a convenience check which you can use to purchase directly from a dealer.

¹ APR (Annual Percentage Rate). Boat loans as low as 7.95% APR effective 01/01/2024. Loan rates are subject to change without notice and subject to credit approval. Patelco offers a range of rates that depend on factors such as credit history, loan term, mileage, Patelco account and loan balances. Additional .50% added to rate for mileage over 100k (with a maximum mileage at 125k). Maximum of 20 years combined based on vehicle model year + loan term. Actual rates are disclosed to approved applicants in writing prior to loan consummation and may be as high as 19.45% APR. To learn more about rates, terms and available discounts, call 800.358.8228, visit patelco.org or visit any Patelco branch. Loan payment example: 60 months: $20.32 per month per $1000 borrowed at 7.95% APR; 72 months: $17.64 per month per $1000 borrowed at 8.10% APR; 84 months: $15.69 per month per $1000 borrowed at 8.10% APR; 120 months: $12.50 per month per $1000 borrowed at 8.60% APR;180 months: $10.15per month per 1000 borrowed at 8.95% APR

² LevelUp is offered to members who are approved for the following loans at Patelco’s credit tier 2 or higher: auto, motorcycle, RV, boat, and personal loans, excluding all lines of credit. Total discount of up to 1.50% APR (Annual Percentage Rate) applied in 0.50% APR increments for every 12 consecutive on-time monthly payments. Maximum discount will never cause the final APR to be lower than the LevelUp floor rate for the specific loan and term at time of funding. Monthly payment amount remains constant, with additional money going toward principal, which shortens the term of the loan and the total amount paid over the life of the loan.

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