Boat & Watercraft Loans
Everyone Knows Life Is Better On The Water.
As low as
For up to
Whether you’re buying a jet ski, wave runner, or boat at CommonWealth Central Credit Union we have you covered with financing for your new or used watercraft. We are here to help you get on and enjoy the water faster.
Check out some features that come with getting a loan for your boat or personal watercraft:
- Flexible loan terms up to 84 months
- Rates as low as 6.24% APR*
- New, used, and refinanced watercraft options
- In-house pre-approval process
How Can You Apply
We’ve Made Applying For a Boat & Watercraft Loan Easier Than Ever
Boat & Watercraft Loan Rates
|New and Used Boats and Personal Watercraft||Loan Term||Annual Percentage Rate (APR)*||Monthly Payment Per
$1,000 Borrowed Maximum Term
Model years 2022-2023
24 - 36 months
6.24% - 16.74%
|$30.53 - $35.52|
37 - 48 months
|6.74% - 17.24%||$23.83 - $28.98|
49 - 60 months
|8.25% - 17.95%||$19.68 - $25.26|
61 - 72 months
|9.25% - 17.95%||$18.15 - $22.78|
73 - 84 months
|9.75% - 17.95%||$16.47 - $20.99|
|Model years 2013-2021||
24 - 36 months
|6.99% - 17.49%||$31.57 - $36.66|
37 - 48 months
|7.49% - 17.95%||$24.89 - $30.16|
49 - 60 months
|7.49% - 17.95%||$20.76 - $26.22|
61 - 72 months
|8.49% - 17.95%||$18.53 - $24.24|
73 - 84 months
|8.99% - 17.95%||$16.86 - $22.81|
- Other Vehicles
Motorcycle, RV, USED & NEW AUTO LOANS
Looking for a more unique form of transportation? We offer loans with low rates for new or used, auto, recreational vehicles, trailers, and motorcycles! You can borrow up to 100% of the purchase price based on qualifying factors with no up-front fees, pre-payment penalties.
If you already have the outdoor vehicle(s) you need, you can also look to CommonWealth for refinancing that can lower your interest rate and monthly payment.
- Recreational Vehicles, Trailers, and Fifth Wheels. Borrow up to $150,000 for a vehicle or trailer made within the last 10 model years.
- New & Used Auto Loans. Competitive rates. No payments for 90 days.* And, flexible car-buying terms that fit your lifestyle and budget.
- Motorcycles. Borrow up to $50,000 for a motorcycle made within the last 8 model years. It must be titled and registered in California, and you must have a valid California motorcycle license.
- Protect Your New Vehicle
GUARANTEED ASSET PROTECTION
Protect yourself from the difference your auto insurance will cover and what is still owed on the loan.
GAP Advantage* makes up the difference between what insurance covers and the amount you owe in most cases. So, instead of paying off a substantial loan balance before you can even think about shopping for a new vehicle, you could be free and clear.
As an added benefit, GAP Advantage will help you get back on the road more quickly by providing a $1,000 allowance to finance a replacement vehicle with us.
GAP Advantage is available for new and used:
- Light trucks and SUVs
- Travel trailers
Learn more about GAP Advantage
Wealth Protection** is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you. Simple eligibility requirements help ease the enrollment process.
If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), Wealth Protection will cancel or waive your loan payment(s), up to the contract maximums—helping to lessen your worries, and your family’s worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging.
Protected events include:
- Loss of life, including those caused by acts of war
- Disability, including those caused by acts of war
- Involuntary unemployment
Learn more about Wealth Protection
MAJOR MECHANICAL PROTECTION
The best time to invest in a mechanical repair program is when you first buy your vehicle. So before you commit to any other program, compare it to our MMP. We believe you will find this plan to be a value-packed winner!
MMP*** Highlights Include:
- Accepted at most licensed repair facilities in the U.S. and Canada
- Affordable, and can usually be added to your loan
- Coverage that meets your driving habits
- Fully transferable
- Adds resale value to your vehicle
- 24-hour roadside assistance
- Rental car reimbursement
- Trip interruption reimbursement
- Lost key, lockout, and emergency tire repair
- Choice of deductible reduces or eliminates out-of-pocket expense
*GAP Advantage is considered insurance coverage in some states.
Your purchase of GAP Advantage is optional. Whether or not you purchase GAP will not affect your application for credit or the terms of any existing credit agreement you have with the credit union. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP. You should carefully read the contract for a full explanation of the terms.
Skipped or missed payments, late charges, refundable service warranty contracts, other insurance-related products, and interest charged after the date of loss will be deducted from the GAP settlement.
GAP Advantage provided by SWBC. © 2014. All rights reserved. Administered by Southwest Business Corporation (SWBC) License #2870.
**Your purchase of Wealth Protection is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of Wealth Protection. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.
© CUNA Mutual Group 2014, All Rights Reserved.
***Coverages vary and may not be available depending on the provider.
The purchase of MMP is voluntary and cannot be required as a condition of the loan. This information is not a contract/policy and the contents are limited. It only provides a general summary of available plan options. Be sure to read your specific contract/policy, as all benefits are subject to the terms and conditions of that contract/policy.
Major Mechanical Protection is considered insurance in some states.
MMP provided by SWBC. © 2014. All rights reserved. Administered by Southwest Business Corporation (SWBC) License #0516221.
Contact Us About Boat & Watercraft Loans
When using this contact form, please do not include any secure information, such as your member number. For specific membership questions, please login to Online Banking to send a secure message or you can call us at (800) 564-1588.
Ready to apply? Apply Online
If you have any questions, please complete the form below.
*APR=ANNUAL PERCENTAGE RATE. Advertised rate of 6.24% APR for 36 months is based on a new vehicle. Loan payment example: $30.42 per month for each $1,000 borrowed at 6.24% APR for 36 months. Longer terms are available. All rates are subject to loan term limits and certain restrictions may apply. Contact us for minimum loan amounts by term, maximum loan amounts and loan-to-value requirements. The rate you receive will be based on certain credit-worthiness factors and approximate repayment and may be higher than the rate shown above. Please ask us for the rate for which you qualify. Rates and terms are subject to change without notice and all loans subject to credit approval.