Boat Loans in West Michigan
Purchasing and owning a boat or other type of watercraft is a goal for many people. However, that goal often comes with a significant price tag. Instead of giving up on your dream of enjoying the open water, take advantage of financing solutions from Community West Credit Union. We offer excellent boat loans to assist you with all your watercraft purchases. Learn more about our boat and watercraft loan services in West Michigan and how we can help you get your new or pre-owned vessel in the water this season.
Boat Loans at Community West Credit Union
Rather than spending a substantial amount of money all at once, you can finance a watercraft purchase with a boat loan. The financing options offered by Community West Credit Union feature competitive loan rates and flexible term lengths, intended to meet everyone’s needs. Types of watercrafts that can be purchased with a boat loan include both new and pre-owned models of the following:
- Personal watercraft (PWC)
- Pontoon boats
- Fishing boats
- Boat trailers
Contact us today if you have any questions about whether your dream watercraft qualifies for financing!
What You Need to Apply
Looking to secure a boat loan from Community West Credit Union? You will first need to apply online, in-person, or over the phone. Before you are pre-approved for a loan, you must provide the following:
- Proof of Government-issued photo I.D.
- Employment status and annual or monthly income
- Monthly mortgage or rent payments
- Loan amount
- Purchase price of the watercraft
- General information about the watercraft, such as type, make, model, and age, if known
Those who are not already a member of Community West Credit Union, but still wish to take advantage of our financing solutions, should also prepare the following information:
- Social security number
- Mother’s maiden name
- Proof of current address (driver’s license, voter registration forms, lease agreements, or utility and telephone bills)
Our loan application document checklist is an excellent resource for all the items you’ll need to get started on obtaining a boat loan from us.
Reasons to Finance Your Watercraft
When deciding whether you should finance a boat or purchase it outright, it is important to know the advantages financing can offer, such as:
- Getting the boat you want: The ideal boat may be out of reach when having to purchase it outright. You’ll have less to sacrifice when you choose to finance your boat.
- Keeping your savings: The average price of a new boat is $60,000 to $75,000. Instead of dipping into a savings account, you can keep that money and pay for the boat over time with a loan.
- Enjoying the water sooner rather than later: Needing to save up enough money to purchase a watercraft in full can take time. Instead of having to wait to enjoy your new toy, you can hit the water quicker when you choose to finance.
Finance your boat or watercraft with us and reap other great benefits, including:
- Fixed rates: Having fixed rates for your boat loan will let you know how much you will be paying every month.
- Extended terms: We offer a wide range of loan term lengths, including up to 180 months. This allows you to pay off your loans at a pace that best suits your current financial situation.
Get Started with Community West Credit Union
Don’t wait to achieve your dream of sailing the open waters. Community West Credit Union offers affordable boat loans to help you achieve your goal of owning a boat or watercraft. The sooner you apply for a loan, the quicker you can be out enjoying your new purchase. Those looking for more information regarding our loans and financial solutions are welcome to visit one of our West Michigan locations in Comstock Park, Grandville, Hudsonville, Kentwood, Middleville, or Rockford. Or contact us today to speak with a friendly team member.