Boat Loans
Any state that borders on four Great Lakes is going to have plenty of boating enthusiasts. Whether your passion is sailing, fishing or cruising the coastline, our low-cost loans will get you out on the open water.
Feel the wind and water. Leave your worries behind.
- Competitive rates as low as APR* for new and used boats
- Repayment terms up to 240 months
- Up to 135% financing for qualified borrowers
- No penalty for early prepayment
Just like when you buy a car, it's a smart move to get pre-qualified for an MSGCU loan before you go shopping for a boat. That lets you focus on picking the watercraft you want rather than haggling over financing with the seller. Just apply online or visit any Michigan Schools and Government Credit Union branch to get the application process started.
| Marine Loan | ||
| Loan Amount | APR* as low as | Term |
| $50,000 and Over | 7.49% | Up to 240 Months |
| Between $25,000 - $49,999 | 7.49% | Up to 180 Months |
| Up to $24,999 | 7.49% | Up to 144 Months |
Example: A loan amount of $40,000 with a rate as low as 7.49% APR for 180 months would have an approximate monthly payment of $370.81. | ||
*APR=Annual Percentage Rate. Offer requires Automatic Loan Payment transfer. Loan terms up to 240 months, depending on amount financed. APR may be higher, based on amount financed and credit score. Marine Survey may be required. New money only. Rates are subject to change at any time. Same-day approval on most Marine applications. Contact Member Service Representative for more details. | ||
