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Personal and Business Banking

Boat Loans

Low Rates on New and Used

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  • Details
  • Rates
  • Reviews
  • Apply Now
  • Resources
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 Plus and 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 Plus and Relationship benefits and electronic payment – Save on rates when you qualify for Plus and 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 ( 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.
Our Best Rates*
Terms / Features Annual Percentage Rate Estimated Monthly Payment
per $1,000
Up to 60 months
Minimum Loan Amount $5,000
7.74% $20.15
Up to 72 months
Minimum Loan Amount $15,000
8.24% $17.65
Up to 84 months
Minimum Loan Amount $15,000
8.74% $15.96
Up to 120 months
Minimum Loan Amount $25,000
9.24% $12.80
Up to 180 months
Minimum Loan A Mount $50,000
9.24% $10.29
Up to 240 months
Minimum Loan Amount $75,000
9.24% $9.15

Rates are effective .

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

Boat Loans is rated 4.6 out of 5 by 24.
Rated 5 out of 5 by from Easy process and great customer service especially Jocelyn in loan processing Easy process and great customer service especially Jocelyn in loan processing
Date published: 2019-07-27
Rated 5 out of 5 by from DCU is our 1st choice! Super fast service and helpful, knowledgeable staff. We inquired about a boat loan, completed all necessary paperwork long distance and had the boat in the water in 24 hrs!
Date published: 2019-07-14
Rated 5 out of 5 by from Outstanding service Excellent service Quick and efficient Everything went smoothly
Date published: 2019-06-16
Rated 5 out of 5 by from Fast This was fastest and easiest loan I have ever obtained. I went in to speak to someone originally and actually didn't even need to. Everything was done via e-mail and I had a check 4 days later. I am going to try to refi with DCU as well for other loans.
Date published: 2018-09-04
Rated 5 out of 5 by from Fantastic Loan Representative Amy was just fantastic to deal with! Truly a great experience. From our first conversation through the loan closing, Amy was patient, proactive, and enormously knowledgeable. DCU has an incredible capacity to hire team members that always have a great attitude. Over the past 10 years, not once has the experience been anything but outstanding. How does DCU do it? Thank you!
Date published: 2018-05-19
Rated 5 out of 5 by from Boat Loan The process was very easy and fast! The customer service was outstanding, at every step of the process.
Date published: 2018-03-31
Rated 5 out of 5 by from Loan process was fast and easy! This was by far the easiest loan process I’ve encountered.
Date published: 2018-03-06
Rated 5 out of 5 by from excellent I was surprised how fast and painless the process was. I look forward to doing future business with DCU.
Date published: 2018-02-24
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Accounts, can anyone open up an account with DCU

Asked by: Sue
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 and then the who may join tab you can view detailed information on how to become eligible for membership.
Answered by: DCU Staff
Date published: 2014-05-17

How old can a used boat be? Generally 30 yrs old is my experience. I did see 10 yr max loan

Asked by: Tony D
We do not have a set requirement on the age of a boat we will be able to offer financing for. For more detailed information on if we will be able to approve the loan for the boat you are interested in please contact a Loan Specialist for review. They can be reached at (800) 328-8797 option 4.
Answered by: DCU Staff
Date published: 2018-12-08
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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.
  • How to Make Your Loan Payment – We make it easy to make your loan payment. Find out more about our convenient payment options.
  • 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.