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 and eligibility requirements apply, with approval subject to application, credit, and vessel considerations.
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Apply Online
Apply for your Boat Loan online.
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Get Pre-Approved
Find out what you'll be able to afford before shopping for a boat.
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Apply in Person
Visit one of five People Driven Credit Union branches that are easily accessible around Southeast Michigan.
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Talk with an Expert
Our customer service representatives are standing by to help you.
No Payment for 90 Days** on Boat Loans
Embark on your next adventure on the lake with ease with our specialized boat loans at People Driven Credit Union. We understand the thrill of the open water and are here to make your boating dreams a reality.
Whether you’re cruising the rivers in Michigan or exploring scenic lakes, our tailored loan options offer competitive rates and flexible terms to suit your needs. Get ready to start your voyage today with PDCU’s boat financing solutions!
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.
Recreational Vehicle Loan Rates
Rates Effective as of: 11-04-2024Term | Term Rate (APR*) |
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Up to 60 Months | As low as 7.24%¹ |
61-84 Months | As low as 8.30%¹ |
85-120 Months | As low as 8.70%¹ |
121-180 Months | As low as 9.30%¹ |
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.
Calculate Your Monthly Boat Loan Payment
Monthly Payment
Frequently Asked Questions
- New auto loans apply to brand-new cars, trucks, vans, and vehicles five years old or newer. They often have lower interest rates because new cars typically have better collateral value.
- Used auto loans apply to pre-owned vehicles older than five years; interest rates may be slightly higher since used cars have less value over time.
- Auto loans: These are for purchasing a new or used vehicle.
- Auto refinancing: You can replace your current auto loan with a new one, typically to get a lower interest rate or change the loan term.
- A valid ID
- Proof of income (like pay stubs or tax returns)
- Employment information
- Vehicle details (if you’ve already chosen one - the VIN #)
- Proof of insurance
- To make a payment via online banking with funds already in your account, log in and select 'transfers'. Select where you want to transfer from and which loan you would transfer to.
- Log into iTalk (telephone teller) and make your payment. Option 3 for payments.
- To make a payment with a debit/credit card, call (248) 263-4100.
- Set up an auto-transfer from your People Driven account or attach an auto payment to your direct deposit that comes into your account. Give us a call at (248) 263-4100 or stop by any of our five branches.
- Have us set up an auto-payment from your other financial institution. Please call us at (248) 263-4100, and we can send you the proper form, or you may stop by any of our five branches.
- You may also mail in a check payable to People Driven Credit Union, 24333 Lahser Rd, Southfield, MI 48033
- Covers the difference between the outstanding loan balance and the actual value (determined by the insurance company) of the auto up to the max LTV.
- Covers total loss AND unrecovered theft
- May cover up to $1000 of the deductible if there is a gap after the insurance pays
Disclosures
**Rates could be higher for older motorcycles. 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 motorcycles. 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.
Payment Example: Monthly payments of $20.00 for each $1,000 borrowed at 6.55% APR for 60 months.
Rates are higher if older than 10 years. Motorcycles 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.