What Can DCU Save You?

Boat Loans

Low Rates on New and Used




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Boat Loans

Boat Loan Benefits

  • Same low rates on new and used
  • Purchase or refinance with affordable monthly payments
  • Borrow up to 90% of purchase price
  • Save with Relationship benefits and electronic payment

Please refer to Details and Rates tabs for additional information and important disclosures.

"Courteous and Knowledgeable"

Open quote Completely flexible and an absolute pleasure to deal with. I applied for the loan in one day and had the check in two business days. Amazing! Close quote

— TomC, Kingston, MA

Boat Loan Details

  • New or used boats – with same low fixed rates.
  • Borrow up to 90% of purchase price – or NADA book value (whichever is less) plus boat motor and trailer.
  • For purchases and refinancing – Have an existing loan elsewhere? Move it here and save.
  • Terms up to 20 years on new boats – and 10 years on used. That helps keep payments affordable on larger purchases.
  • Save with Relationship benefits and electronic payment – Save on rates when you qualify for Relationship benefits on your DCU Checking Account and make payments electronically (payment by transfer in Online Banking, Mobile Banking, Easy Touch Telephone Teller, DCU ATM, or internal DCU automatic transfers. Add 0.50% to rate for other payment methods.
  • Interest may be tax deductible – Boats with a bathroom, kitchen (galley), and sleeping area are considered a home under IRS rules. Interest on loans to finance them may be deductible on your federal taxes. Visit the IRS web site (irs.gov) for details.

Boat Loan Fixed Rates*

For New or Used Boats (Maximum used boat age to be financed 10 years)
Qualified borrowers can finance up to 90% of NADA retail book value or 90% of the purchase price, whichever is less.
Terms / Features Our Best Rates*
  Annual Percentage Rate Estimated Monthly Payment
per $1,000
Up to 60 months
Minimum Loan Amount $5,000
6.24% $19.44
Up to 72 months
Minimum Loan Amount $15,000
6.74% $16.92
Up to 84 months
Minimum Loan Amount $15,000
7.24% $15.21
Up to 120 months
Minimum Loan Amount $25,000
7.74% $12.00
Up to 180 months
Minimum Loan A Mount $50,000
7.74% $9.41
Up to 240 months
Minimum Loan Amount $75,000
7.74% $8.20

Rates are effective .

*Rates are determined by your personal credit history, account relationship, and payment method.


Boat Loans is rated 4.7 out of 5 by 11.
Rated 5 out of 5 by from Very accommodating, knowledgeable & friendly service. Beshmir was a pleasure to work with. He explained everything to my at my level. He did all he could to get me the kind of loan I needed while trying different options. He made me feel very comfortable at DCU and because of that I am so happy to be a part of the DCU family! Thank you Beshmir & thank you DCU! Scott M
Date published: 2017-02-25
Rated 5 out of 5 by from Incredible! I cannot believe I could walk into the bank on a Saturday. That's right a Saturday (lol) and Cindy at the Lexington, MA Branch called the boat company I was buying boat from. Got information on the boat from them and did a credit check etc on me. I was always on time with my other loans with DCU. Cindy called the main office, spoke to an underwriter and got me approved as long as I gave last 2 years taxes as I am self employed. I gave the tax info to bank on the following Tuesday (3 days later) and walked out with a check the same day for a pretty expensive boat. It was quick, easy and awesome. Couldn't ask for anything better!
Date published: 2016-12-01
Rated 5 out of 5 by from Great rate, great service The rate is far better than my two local banks. The customer service is fantastic.
Date published: 2016-10-24
Rated 5 out of 5 by from My other long time credit union said no to a 6 year old boat, dcu said yes! Excellent terms, rate and ease of setup. No one comes close to dcu and boat loans!
Date published: 2016-09-30
Rated 5 out of 5 by from Great Awesome! From entry -level people to upper management. They worked great together for me thank you
Date published: 2015-03-14
Rated 5 out of 5 by from The process went very smooth Thanx to Michelle Hanson. As usual Michelle Hanson did her magic. I was in and out of the branch in record time. Thank You Michelle !!!
Date published: 2012-12-01
Rated 5 out of 5 by from Professional, Courteous and Knowledgeable What banking should be. Completely flexible and an absolute pleasure to deal with. I applied for the loan one day and had the check in two business days. Amazing! The rep was very professional, well spoken and professional. I had to call several times due to myself not having all the info and I didn't receive one voicemail or automated line. I hope that DCU gets all my business and personal needs! - Tom
Date published: 2012-07-09
Rated 5 out of 5 by from So fast and easy to get the loan! Had the check to buy the boat in 2 days! I was approved over the phone. Great , friendly customer service. I will use dcu again in the future.
Date published: 2012-06-12
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Accounts, can anyone open up an account with DCU

Asked by: Anonymous
You are required to belong within our Field of Membership in order to be able to open an account with DCU. If you choose the following link https://www.dcu.org/infodesk/membership/eligibility.html and then the who may join tab you can view detailed information on how to become eligible for membership.
Answered by: Anonymous
Date published: 2014-05-17
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"Fast Loan Process!"

Open quote Had the check to buy the boat in 2 days! I was approved over the phone. Great, friendly customer service. I will use dcu again in the future. Close quote

— Chris, Marshfield, MA

Easy Ways To Apply For A Boat Loan

  1. Apply Online – 24 hours a day, 7 days a week.
  2. Apply by phone – 24 hours a day, 7 days a week call 800.328.8797 or 508.263.6700 and press 3.
  3. Any DCU Branch – Visit your local branch.

"Friendly Staff"

Open quote DCU's employees are extremely friendly and very patient when it comes to servicing their customers. No matter how complicated or difficult the situation is, DCU's staff sees to the end of the situation with a smile.Close quote 

— Angela, Houston, TX

Boat Loan Resources

  • Are You Already Approved? – Login to Online Banking and check your Account Manager inbox for a message. If you are, you can accept your approved loan online.
  • Loan Payment Method Authorization (.pdf format) – Use to have DCU set up electronic loan payments by transfer from your DCU savings or checking account. Note: you can set this up on your own with Internet Online Banking Automatic Transfers.
  • Payment Protection – Helps relieve the pressure of your loan payments during certain unexpected events.
  • Intent to Sell Form – Provide to DCU if you are buying a used boat or RV through a private sale.

Boat Loan Related Links

  • Loan Calculator – Use these calculators to determine an approximate loan payment based on the loan amount (loan cash), term, and credit history standing. This helps you see if a loan will fit within your budget.
  • StreetWise Boat Guide – Great consumer resources for buying and owning boats.
  • StreetWise Guide to CreditStreetWise guide helps you understand how credit works, how to use it responsibly, how to know if you are having difficulty with it, and what to do if you are.
  • Skip a Payment (.pdf format) – You have the option to skip a loan payment without impacting your credit rating.
  • Calculate Finance Charges – Sometime members have questions about how Finance Charges or Interest on their DCU loan accounts are calculated. This information is designed to make the information in your loan disclosures a little easier to understand.
  • Schedule of Fees and Service Charges – Details regarding member benefits that may help you avoid fees.
  • Financial Wellness and Recovery – Learn what DCU can do for you if you are now or think you may soon experience a financial setback. The earlier you contact us, the more we can do to help.