Boat Loans: If It Floats, We Finance It.
Ready to make a splash on the water? People Driven Credit Union (PDCU) offers specialized loans to help you finance your dream boat, jet ski, or wave runner. With competitive rates, flexible terms, and a streamlined application process, we make it easy to enjoy the water adventures you’ve always wanted. Whether cruising the inland lakes of Michigan or speeding across the waves of Lake Michigan, People Driven Credit Union is here to support your aquatic lifestyle. Dive into our financing options today and get ready to hit the water with confidence.
Membership eligibility requirements apply, with approval subject to application, credit, and vessel considerations.
Loan Rate Discount¹
Boat Loan Rates as Low As
7.54%¹ APR*
¹Take advantage of a 0.25% discount when you enroll in autopay, already factored into the “as low as” rate. This discount applies to those who set up automatic payments from a People Driven Credit Union checking or savings account.
Get Pre-Approved for a Boat Loan
Get pre-approved for your boat loan with People Driven Credit Union and shop confidently. Instead of haggling over financing, focus on finding the perfect vessel.
With branches and ATMs easily accessible around Metro Detroit and Southeast Michigan, PDCU is your trusted partner for boat financing.
Rates for Boat Loans
Loan and financing rates for motor homes, campers, boats, motorcycles, ATVs and snowmobiles. Add 1.00% to applicable rate on loans with collateral that is 11 to 15 years old. PDCU may consider doing a loan with collateral that is older than 15 years (on an exception basis only), in which case 2.00% would be added to applicable rate.
|
Term (Months) |
≤60 |
61-84 |
85-120 |
121-180 |
|
APR* as low as¹ |
7.54% | 8.65% | 9.10% | 9.95% |
|
Rates Effective as of: |
||||
Calculate Your Monthly Boat Loan Payment
Auto Loan Calculator Disclosure: This calculator is for educational and planning purposes only. Results are estimates based on the information you enter and do not guarantee loan approval, loan amount, rate, term, payment amount, or financing. Actual terms may vary based on creditworthiness, loan amount, loan term, vehicle age, collateral value, loan-to-value, and membership eligibility. APR = Annual Percentage Rate. Rates are subject to change. The “as low as” rate shown on this page includes a 0.25% autopay discount for eligible borrowers who set up automatic payments from a People Driven Credit Union checking or savings account. Interest begins accruing when the loan is disbursed, including during any approved no-payment period.
Frequently Asked Questions
People Driven Credit Union finances a wide range of recreational vehicles, including motorhomes, campers, boats, motorcycles, ATVs, and snowmobiles.
Types of recreational vehicles we finance
Eligible recreational vehicle financing may include motorhomes, fifth-wheel trailers, travel trailers, pop-up campers, motorcycles, boats, wave runners, jet skis, ATVs, and snowmobiles. Financing may be available for new purchases, used purchases, and refinances.
What to keep in mind
Loan approval is subject to application, credit, and collateral considerations. Available loan amounts, rates, and terms can vary based on the vehicle and your overall loan request.
Learn more or apply
If you have questions, call 844-700-7328 during business hours.
To check the status of your loan application, contact People Driven Credit Union at 248-263-4100 during business hours or reach out to your assigned loan specialist if you have their contact information. Be ready to verify your identity and share details such as your name, member number, or application number so we can review your application with you.
When you check your status, it is also a good idea to ask whether any additional documents or information are needed to keep your application moving. Review times can vary based on the loan type and the information required, so contacting us directly is the best way to get the most current update on your application.
Yes. People Driven Credit Union offers a Skip A Payment option for eligible loans during qualifying periods. If you qualify, you may be able to skip one loan payment per calendar year for a $35 processing fee.
Who may qualify
To be eligible, you must be a member in good standing, have no prior extensions in the current calendar year, and have the $35 fee available for withdrawal. Some loan types are excluded, including Fresh Start Auto Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards.
How to request it
You can request Skip A Payment through the MyPDCU app, through online banking, or by completing the Authorization Form and submitting it to a branch or mailing it to:
Skip-A-Payment
People Driven Credit Union
24333 Lahser Road
Southfield, MI 48033
Important to know
Finance charges will continue to accrue during the skipped month, and skipping a payment may extend the term of your loan. If you have automatic payments set up through PDCU or another financial institution, you will need to stop those payments for the skipped month and restart them afterward. Your request and fee must be received at least one business day before the payment is due.
Need help?
If you have questions about eligibility or how to request Skip A Payment, call 248-263-4100 or 844-700-7328 during business hours.
PDCU offers options for making your loan payment:
Online Banking (MyPDCU Portal & Mobile App)
Step 1: Log into the MyPDCU Online Portal or the MyPDCU mobile app.
Step 2: Select ‘Transfers.’
Step 3: Choose the account from which you want to transfer funds and the loan you wish to pay.
Debit/Credit Card Payments
Call (248) 263-4100 to make a payment using a debit or credit card.
Auto-Transfer Setup
Set up an automatic transfer from your People Driven account to make regular loan payments. You can also attach this auto-payment to your direct deposit. Call us at (248) 263-4100 or visit any of our five branches for assistance.
Payments from Other Financial Institutions
Set up an auto-payment from another financial institution. We’ll provide you with the necessary form to get started. Call us at (248) 263-4100 or stop by any branch.
Mail a Check
You can mail a check payable to People Driven Credit Union to:
24333 Lahser Rd
Southfield, MI 48033
Pay in Person
Make your loan payment in-person at any People Driven Credit Union branch location.
Need Help? We're Here.
Missing a payment or making a late payment can result in fees and damage to your credit score. If you're having trouble making a loan payment, don't hesitate to contact us. People Driven Credit Union is committed to assisting our members, and there are several ways we can help.
Skip-a-Payment
Eligible members can skip one loan payment on eligible loans per calendar year for a fee. Eligible loans include all except Fresh Start Auto Loans, PD Quick Cash Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards, which are excluded from the Skip-a-Payment program. Learn more about the Skip-a-Payment program.
GreenPath Financial Wellness
We have partnered with GreenPath Financial Wellness to help our members get back on track with their finances and credit. Call GreenPath at 877-337-3399 and let them know you're a PDCU member who would like to make an appointment with a representative.
Disclosures
**Rates could be higher for older boats. APR may differ based on loan purpose, amount, term, and member’s credit score. A down payment may be required. Other terms and conditions are based on Loan to Value. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. 90-day no payment may be limited depending on term.
Certain limitations may apply. Please consult with a representative for further information. Loans are exclusively available for boats. Membership with the Credit Union is mandatory for loan disbursement. For 30, 60, or 90-day no-payment loans, interest will commence accruing upon loan disbursement and will be spread out over the subsequent monthly payments.
Rates are higher if older than 10 years. Boats older than 15 years are financed on an exception basis only.
*APR = Annual Percentage Rate: The actual APR and loan term is subject to approval and may be determined upon the borrower’s creditworthiness, the amount borrowed, and the type, value, age, and condition of the collateral offered to secure the loan (when applicable). Rates are effective as of today and are subject to change.
¹Special Loan Rate Discount: Benefit from a .25% reduction when enrolling in our autopay service, which is included in the “as low as” rate advertised. The discount is available to those who setup autopay of their monthly loan payment from a People Driven Credit Union checking or savings account.
