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Boat Loans

It ain’t easy being the coolest kid in the marina, but buying your own boat is a great place to start!

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Your boat isn’t just something you use for fun...

…it’s a bonafide, certified, amplified part of your life that makes warm afternoons just a little bit cooler.

At UMe, we’re totally dedicated to helping you achieve your goal of owning a boat, backed by a finance plan and flexible payment options that are the best fit for you! Up to 125% financing with rates as low as 6.00% APR.*

Current Rates

Boat and RV Loans


APR* as low as

*APR is Annual Percentage Rate. Loan approval, term and rate are based on a verification of income and an evaluation of your creditworthiness and collateral.


24 months

APR* as low as



36 months

APR* as low as



48 months

APR* as low as



60 months

APR* as low as



72 months

APR* as low as



84 months

APR* as low as



120 months

APR* as low as



144 months

APR* as low as


Ways to pay your loan

  • Payroll Deduction

    If you have a loan with the credit union, payroll deduction is a convenient way to have your loan payments automatically deducted from your paycheck.

    To find out if you’re eligible for payroll deduction, contact your employer’s benefits department. If you already have payroll deduction set up with the credit union and want to set up automatic loan payments, call us at (818) 238-2900.

  • Automatic Transfers

    Automatic transfer allows you to make loan payments on a recurring schedule, from a UMe account or most any other financial institution.

    To set up an automatic transfer, fill out our Share to Loan Transfer Form or give us a call at (818) 238-2900.

Boat Loan Refinancing

Didn’t get such a great deal the first time around? No worries, we may be able to help!

The thing that makes refinancing with UMe Credit Union so amazing is that we’re all about community and being your partner, moreso than the financial gain. There are a ton of great benefits that come from refinancing through UMe Credit Union, like:

  • Lower monthly payments
  • Reduced interest rates
  • Better terms
  • Add or remove a signer from an existing loan
illustration of a sail boat and some coins

Interested in cashing out?

If you have equity in your boat (i.e. your boat’s value is greater than your outstanding balance), you can “cash out” by refinancing your boat loan. This will give you access to a cost-effective source of money at a low, fixed rate.

Example: If your current boat is worth $45,000 according to J.D. Power, but you only owe $40,000 on your existing loan, we will refinance your loan for the $40,000 balance AND fund an additional $5,000.

You can then use the extra cash for anything—from paying off high-rate debt to taking a much-needed vacation. You’re the boss!

Illustration of a form and a money bag

Boat Loan FAQs

Like other types of recreational vehicles, boat loans generally come with a term length of 10-15 years. At UMe Credit Union, we like to keep it simple. We offer great rates on 12-year loans (144 months) to keep your wallet thick and your suntan rockin’.

Getting a recreational loan through UMe Credit Union is easy peasy! Give us a call at (818) 238-2900, or visit our branch to speak with someone face to face. Don’t feel like getting out of your PJs? You can always apply 24/7 online!

GAP stands for Guaranteed Asset Protection and pays the difference between what you owe and what your insurance company will pay — filling the gap!

When you purchase a vehicle, it depreciates the moment you drive it away. So, if your vehicle is stolen, or totaled in an accident, you could end up owing more than the vehicle is worth. GAP is designed to pay the difference between the insurance settlement and the loan balance, so you don’t owe money for a vehicle you no longer have.

If your GAP-covered vehicle is totaled, and you finance a replacement vehicle with UMe, you will receive a $2,500 deposit into your UMe account. Additionally, our GAP includes up to $500 deductible reimbursement twice a year.

You may cancel GAP at any time. If you cancel protection within 90 days, you will receive a full refund. You’ll receive additional information before you are required to pay the fee for this product.

UMe has all of your vehicle financing needs covered. All you need to do is fuel up and you’re set!

Let's keep your dreams afloat!

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*APR is Annual Percentage Rate. Loan approval, term and rate are based on a verification of income, evaluation of creditworthiness, and collateral.