Boat Loans

Turn Big Savings into More Time on the Water

If you are considering buying a new boat or you already have a boat loan with another financial institution, we would love to talk with you. 

Our love of boats and the boating lifestyle is reflected in our interest rates, which can make a big difference on your monthly boat payment. When accounting for all the expenses of owning a boat, SMCU can help ensure you get to spend as much time on the water by giving you piece of mind that you are getting the best deal. 

Innovative loan features like Anytime Skip-A-Pay, GAP coverage, and Debt Protection and no origination fees make SMCU's Boat Loans among the best on the water.

It’s quick and easy to apply online. You’ll usually have an answer in just a few minutes. Once your loan is approved, you can sign your loan documents electronically from the deck of your boat  and be on your way to navigating the Cut, anchoring in Andrews Bay, fishing the Sound, or hitting the course on Lake Sammamish. With SMCU we make it easy to get on the water, so you can make those memories that as boaters we all cherish. 

 

Launch Checklist

  • Loan amounts up to $250,000
  • Loan terms up to 15 years, depending on loan amount
  • Boats must be less than 20 years old to qualify for boat loan rates. Older boats may qualify for Secured Loan rates.
  • A Marine Survey is required on all used wood wood-hull boats and fiberglass boats over 10 years old and 20 feet in length.
  • Boats used as primary residences do not qualify for boat loan rates, but may qualify for certain Home Loan programs. If this is your situation, talk to the specialists in the SMCU Mortgage Center.

 

Who's Eligible?

WashingtonIf you live or work in the state of Washington, you are eligible to borrow from Seattle Metropolitan Credit Union. For over 80 years we've been helping our community members finance their most important purchases.

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Ride off with a 1% rebate up to $250*. Auto | Boat | RV

1% Rebate on Autos, Boats, and RVs

SMCU has rates as low as 1.49% APR on car, truck, and motorcycle loans. And rates as low as 3.49% APR on boat and RV loans. Look around and you'll see that they're already some of the lowest in Washington. But, between now and June 30, you can ride off with a 1% rebate, up to $250 and save even more!

Spring is always the perfect time of year to upgrade your vehicle, shop for a boat to enjoy the Puget Sound, or to get an RV for road-trip season. Combine our low rates and this 1% rebate with the fact that we charge no origination fee and offer an any-time skip-a-pay program that gives you more payment flexibility, and you can already feel yourself cruising down I-5. 

To apply call an SMCU loan specialist at 855-575-9352 or click the button below.

Apply With Rebate


  • Promotion Details

    * This offer begins April 1, 2017 and expires June 30, 2017. The 1% rebate applies to all new auto, boat, RV purchase-money loans only. All loans are subject to SMCU credit underwriting requirements. Non-member applicants must meet SMCU membership eligibility requirements and must become an SMCU member prior to or concurrent with loan funding. Applicant's loan must be approved by 11:59 p.m. PDT on June 30, 2017 and funded within 60 days of application date to be eligible. The rebate of 1% of the approved loan amount, up to $250, will be deposited into the member’s Savings account at loan funding. The rebate bonus is considered interest and may be reported on IRS Form 1099-INT. SMCU reserves the right to cancel or amend the terms and conditions of this promotion at any time and without notice. Contact us for additional details at 855-575-9352. The rebate applies to the funded loan amount only, less ancillary loan products such as Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection (MBP).

Protect Your Loans and Your Good Name

Unexpected events, like an illness or emergency, can wreak havoc on your short-term finances. When you borrow from SMCU, you have access to special products designed to help you weather the storm.

 

Anytime Skip-A-Pay

SMCU’s innovative Anytime Skip-A-Pay program allows you to skip up to two loan payments every twelve months with the payment of a small processing fee. Anytime Skip-A-Pay gives you the flexibility to deal with unforeseen expenses like home repairs or unusually large credit card bills without causing any damage to your credit score.

 

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Debt Protection

When you get sick or lose your job, monthly bills can pile up quickly. When you add SMCU’s Debt Protection to your loans, you get peace of mind knowing that your loan payments are covered while you get back on your feet. You can finance the cost of coverage into your loan for just a few dollars each month.

 

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Mechanical Breakdown Protection (MBP)

MBP, also known as Extended Warranty, can cover repairs and unexpected mechanical breakdowns and enhances existing manufacturer’s warranties. MBP can come in handy when you purchase a new or used car. All of SMCU’s MBP plans come with roadside assistance, rental car allowance, paintless dent repair, and windshield repair. Zero deductible plans are available.

 

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GAP Advantage

If you are in an accident in which your car is totaled, a GAP policy will usually pay the difference between what you owe on the loan and what the insurance company says the car is worth. GAP is particularly valuable when you buy a brand new car, as they depreciate most quickly in the first year of ownership and could leave you with a sizable bill in the event of a crash. 

 

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private party financing

Private-Party Financing

If you are buying a boat from a private seller in Washington State, SMCU should be your first stop. We've been financing private-party sales for years. We have trained loan representatives who can guide you through every step of the process to make sure you get the deal you want with no surprises.

 

  • Processing the Department of Licensing title work to transfer ownership.
  • Researching what the car you're looking at is actually worth.
  • Mechanical Breakdown Protection, which can protect you from costly repairs.

 

To make things even easier, we'll cut a check directly to the seller, so they have the peace of mind of receiving their money promptly.

Apply Now. Get an Answer Fast.

Getting your loan at SMCU could not be more simple. There are three easy ways to apply:

 

Online

When you are ready to apply, head over to our online loan application to get started. Answer a few short questions, hit submit, and you’ll usually have an answer in just a few minutes.

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By Phone

Call our specially-trained loan experts, who are happy to answer any questions you might have. They can take your application and get you a decision while you wait, in most cases. Call 855-575-9352 to get started.

In Person

Stop by any of our convenient branches to talk with our helpful, friendly branch representatives. They can help you figure out which loan is right for you and get you a decision fast.

Have Questions? Let's Talk.

If you want to learn more about any of our products, services, or about becoming an SMCU member, stop by a branch, give us a call at (206) 398-5500 or toll-free at (800) 334-2489, or simply enter your email address below and we’ll contact you.

 

Boat Rates

 

Up to 84 Months
as low as*

 

3.49%APR

Up to 120 Months
as low as*

 

3.99%APR

Up to 144 Months
as low as*

 

4.49%APR

Up to 180 Months
as low as*

 

4.99%APR