Boat Loans Archives

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What documentation will I need?

You’ll generally need proof of income, a look at your credit history, and details about the watercraft you wish to finance. Our team is here to help every step of the way. For more information or personalized assistance, please contact a People Driven...

How long does the approval process take?

Our application process often provides pre-approval decisions quickly, and final approval typically takes just a few days once all documentation is...

Do I get any benefits with autopay?

Yes, enrolling in autopay may qualify you for a rate discount, reducing the overall cost of your loan. Check with our team for current promotional...

Is a down payment required?

A down payment may be needed, depending on your credit profile, the value of the vehicle or watercraft, and the specific loan structure. While not always required, a down payment can lower your monthly payments and the total amount of interest paid. Our...

What loan terms are available?

Loan terms are flexible and can be tailored to fit your financial situation. At People Driven Credit Union, loan terms for recreational vehicles such as ATVs, motorcycles, boats, snowmobiles, and campers generally range from 12 to 180 months. Longer...

Are these loans available for both new and used watercraft?

Yes, PDCU finances both new and pre-owned watercraft. Rates and terms may differ, so our team can help you find the best option based on your...

Can I get pre-approved for a boat loan?

Absolutely. Our pre-approval process gives you a clear idea of your borrowing power before you start shopping, simplifying your purchasing...

What interest rate can I expect?

Interest rates vary based on factors like your credit score, loan term, and the age of the vehicle or watercraft. People Driven Credit Union offers competitive rates to make financing accessible and affordable for our members. Call 248-263-4100 to speak...

What types of watercraft can I finance?

You can finance a variety of recreational watercraft, including boats, jet skis, and wave runners. If it floats, People Driven Credit Union can probably finance...

Do you offer ‘skip a payment’?

Yes! All eligible loans can be skipped once per calendar year for a fee of $35. To learn more about how it works, visit our Skip-a-Payment page. Please note that Fresh Start Auto Loans, PD Quick Cash Loans, Lines of Credit, Mortgages, Commercial Loans,...

Calculator Disclaimer Personal Loan Rate

The monthly payment at 8.490% APR for a term of 12 months would require payments of approximately $87.22/month, per $1,000 borrowed. APR=Annual Percentage Rate, subject to change. Rate is based on individual creditworthiness and term of the loan. The use of this calculator does not imply nor guarantee loan terms nor approval of financing.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. People Driven Credit Union does not guarantee their applicability or accuracy in regards to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Member-only Discount Rewards

Accidental Death & Dismemberment Insurance – PDCU provides $2,000 coverage to members 18-69 for free but op-in is required. Members receive discounts on additional supplemental coverage.