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Ready to Set Sail?

Ready to Set Sail?

With boat loan rates as low as 8.45% APRFootnote 1, we could help you lift anchor on your sea-faring dreams.

Set a Course for Adventure

We can help finance or refinance a variety of new or used boats, and accessories like trailers and outboard motors.

  • Human-powered boats
  • Sailboats
  • Motorboats
  • Fishing boats
  • Pontoon boats
  • Yachts

Why Trust Navy Federal With Your Boat Loan? 

You could elevate your boating experience with our great boat loan ratesFootnote 1 —no matter what kind of vessel you're eyeing.

Push off from the dock with:  

  • loan options with no down payment (and decisions within 24 hours) 
  • flexible payment options - terms of 12 to 180 months available 
  • discounts for Active Duty and retired military membersFootnote 2
  • 24/7 access to our US-based member support team

New & Used Boat Loan RatesFootnote 1

Rates Table
Loan Type up to 36 mos. APR as low as 37-60 mos. APR as low as 61-72 mos. APR as low as 73-84 mos. APR as low as 85-180 mos. APR as low as
New Boat 8.45% 10.45% 10.45% 10.45% 10.45%
Used Boat 8.95% 10.50% 10.50% 11.40% 11.40%

Rates as of Mar 26, 2025 ET.
Credit and collateral subject to approval. Advertised “as low as” annual percentage rates (APR) assume excellent borrower credit history. Your actual APR may differ and will be based upon several factors, including credit history, model year, term, and loan amount. Rates subject to change. Boat and recreational vehicles must be used for recreational purposes only.
Boats: $25,000 minimum amount financed for terms of 61-84 months. $30,000 minimum amount financed for terms over 84 months. Payment example: New boat loan of $20,000 for 3 years at 8.45% APR will have a monthly payment of $635. 
Other Collateral: $25,000 minimum amount financed for terms of 61-84 months. $30,000 minimum amount financed for terms over 84 months. Payment example: Loan for other collateral of $15,000 for 3 years at 8.95% APR will have a monthly payment of $480

Estimate Your Payment 

Use our Loan Calculator to figure out how to end up with the best monthly payment for you.

What Do You Need to Apply?

Make sure you have the following details for yourself and any co-applicant before you apply for a boat loan: 

  • Current housing, employment and income information
  • Any trade-in information (title, loan details, registration, etc.)
  • Amount expected to finance (including purchase price, taxes, tags, title and warranty, minus any down payment)
  • Desired length (term) of the loan
  • The dealer or seller's name
  • The state where you’ll register the boat
  • Value of the boat
  • Hull Identification Number (or HIN), make, model, year, footage (in feet), volume (in tons)

How Can I Refinance My Current Loan?

If you’re refinancing a boat loan currently financed with another lender, you’ll need to provide the:

  • lender’s name
  • lender’s phone number
  • your loan number with the lender
  • payoff amount
  • valid through date
  • per diem amount (optional)

Ready to Apply?

Applications are completed over the phone or in a branch.

 

Call 1-888-842-6328 or visit your nearest branch to apply for a boat loan today.

You're getting closer to living the boating life—welcome aboard!

 

See What Our Members Have to Say

Whether it's offering guidance through a loan application or planning a financial strategy, we always put our members first. After all, they're what matter most!Footnote 3

Boat Loan FAQs

Use one of the following options to apply:

When applying for a boat loan, you'll need to provide the following details for yourself and any co-applicant:

  • Contact information (phone number and email)
  • Current housing, employment and income information
  • Any trade-in information (title or loan information, registration, etc.)
  • Amount expected to finance (including boat purchase price, taxes, tags, title and warranty, minus any down payment)
  • Length (term) of the desired loan
  • The dealer or seller's name
  • The state where you will register the boat
  • Hull ID (or HIN)
  • Value of the boat
  • Year
  • Make
  • Model
  • Footage of the vessel (in feet)
  • Volume (in tons)

If a trailer and/or outboard engine will be included in the loan, you will also need to provide the following:

  • Trailer VIN
  • Trailer value
  • Trailer make
  • Trailer length (in feet)
  • Number of trailer axles
  • Outboard engine serial numbers
  • Outboard engine hour
  • Outboard engine value
  • Outboard engine year
  • Outboard engine make
  • Outboard engine model


For refinance loans, you'll also need to provide the lender contact information and payoff amount.   

If you are refinancing a boat loan, please provide the same information as above plus the following lender information:

  • Lender’s name
  • Lender's phone number
  • Your loan number with lender
  • Payoff amount with valid 10- or 14-day good-through date

Yes, the loan can include both the boat trailer and the outboard motor(s).

The Hull Identification Number (Hull ID or HIN) is a serial number assigned by the manufacturer that uniquely identifies a boat, similar to the VIN on an automobile.

No. Navy Federal does not offer Pre-Approved Loan (PAL) requests for boats or vessels.

No. Navy Federal doesn't charge an application or origination fee.

We'll try to provide you a decision the same day or within 24 hours.

Yes. Email notifications are sent with directions on how to electronically sign your Promissory Note.

You can receive your check the following ways:

  • By mail, sent to the address you provided (there may be a fee depending on delivery type)
  • By picking it up at a branch

We finance human-powered boats, sailboats, fishing boats, pontoon boats, yachts and motorboats.

  • New and used boat terms are 12 months to 180 months
  • New—any boat or vessel that has never been titled, registered or sold
  • Used—any boat or vessel that has been previously titled, registered or sold
  • $25,000 minimum amount financed for 61 to 84 months
  • $30,000 minimum amount financed for over 84 months
  • Boats must be used for recreational purposes

The following documents are required for all boats and vessels:

  • Lien-recorded title and/or
  • Proof of collateral documents


New Boats/Vessels Used Boats/Vessels

Additional documentation required for new vessels

  • Copy of the Coast Guard Certificate of Documentation application

Once they are obtained, the member will also be asked to provide:

  • Copy of their new Coast Guard Certificate of Documentation
  • Copy of their First Preferred Ship's Mortgage

Additional documentation is required when purchasing a used boat or vessel.

  • A Marine Survey is required on all used boats/vessels

If there are concerns noted on the Marine Survey, the member may also be asked to provide one or more of the following:

  • Mechanical Survey
  • Copy of the Coast Guard Certificate of Documentation application
  • Copy of the previous owner's Coast Guard Certificate of Documentation

Once obtained, the member will also be asked to provide:

  • Copy of their new Coast Guard Certificate of Documentation
  • Copy of their First Preferred Ship's Mortgage

Loan Resources and Articles

View More Loan Resources and Articles

Need to Talk?

Enjoy 24/7 support from our US-based member service team. Reach us online, over the phone or at a branch. Contact us.

If you're ready to apply for an auto loan or want to check the status of your loan, please call us at 1-888-842-6328.

Explore Our Other Loans

Motorcyles

Learn More abot our Motorcycle Loans.

Disclosures

1

Credit and collateral subject to approval. Advertised “as low as” annual percentage rates (APR) assume excellent borrower credit history. Your actual APR may differ and will be based upon several factors, including credit history, model year, term, and loan amount. Rates subject to change. Boat and recreational vehicles must be used for recreational purposes only.

Boats: $25,000 minimum amount financed for terms of 61-84 months. $30,000 minimum amount financed for terms over 84 months. Payment example: New boat loan of $20,000 for 3 years at 8.45% APR will have a monthly payment of $635. 

Other Collateral: $25,000 minimum amount financed for terms of 61-84 months. $30,000 minimum amount financed for terms over 84 months. Payment example: Loan for other collateral of $15,000 for 3 years at 8.95% APR will have a monthly payment of $480.

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2

Direct deposit is required. This military special may expire at any time. Applicants must contact Navy Federal by phone or visit a branch to receive the discount. Active Duty rate discounts (which are also available for retired military members) can be applied, subject to certain restrictions.

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3

The views expressed in the reviews are solely those of the individuals posting them. The testimonials are substantively the words of the individual reviewer, but may have undergone minor clerical revisions to ensure readability, add context, or protect private information. Any imagery displayed is for decorative purposes only and is not necessarily associated with the reviewer.

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