Boat Loans
Living on the Gulf Coast provides ample opportunity to enjoy boating. Boat Loans are available for new and used boats, wave-runners, jet skis, etc.
✔ Loan amount: Up to 100% financing
✔ Terms: Up to 84 months
✔ Discounts: Up to 0.75% off your APR*. Click here for details.
✔ Prepayment Penalties: None
✔ Interest Rates: Please refer to our Rate Sheet for current rates.
Boat Loan Resources
How to Apply for a Boat Loan
Applying for a loan
Getting a boat loan at GCEFCU is easy! Follow these three easy steps and you’ll be on your way to cruising the open sea in no time.
Step 1: Apply For Your Loan
You can apply for your boat loan online by clicking the “Apply Now” button above, or by visiting any of our locations and speaking with a loan officer. However, you must be a member of Gulf Coast Educators FCU in good standing in order to apply for any loans. If you are not currently a member, click here to learn more information.
Step 2: Get Your Required Documents Together
With any loan, we require proof of income for the last 30 days. You can either provide us with 30 days worth of pay stubs, or have your paycheck direct deposited with us.
Step 3: Sign Your Lending Documents
Lastly, this next step is the easiest of all! You can either sign your lending documents in person at any of our branches, or we can send them to you electronically to sign from your computer, tablet, or smart phone. Once this is complete your loan will be funded!
Loan Calculators
Loan Discounts
Consumer Loan Discounts
| Discount | Description | Discount Rate |
|---|---|---|
| Credit Life or Disability Insurance | Add Credit Life or Disability Insurance to your loan through the credit union and you may receive 0.25% off your APR*. | 0.25% |
| Gulf Coast Educators Insurance Services, LLC | If you have any type of insurance service through Gulf Coast Educators Insurance Services, you may qualify for a discount of 0.25% off your APR*. Insurance offered through Gulf Coast Educators Insurance Services, LLC. Funds should not be considered a deposit or guaranteed by GCEFCU. Funds are not insured by the NCUA or any federal government agency. | 0.25% |
| Direct Deposit | If you have at least 1 payroll direct deposit per month of $500 or more into your GCEFCU checking account, you may receive a discount of 0.25% off your APR*. | 0.25% |
| *APR = Annual Percentage Rate. Rates and discounts are subject to change without prior notification. Other conditions may apply. Maximum loan discount is 0.75% for auto, boat, motorcycle, and RV/Travel Trailer loans, and 0.50% for personal loans and miscellaneous equipment loans. | ||
Boat Insurance
Boat Insurance
The best way to protect your new boat from unexpected losses and damage is through insurance. Gulf Coast Educators Insurance Services, LLC is a subsidiary of GCEFCU, and available to provide you with the best boat insurance quote, whether you are buying new, used, refinancing, or simply shopping for a cheaper rate.
Insurance offered through Gulf Coast Educators Insurance Services, LLC. Funds should not be considered a deposit or guaranteed by Gulf Coast Educators Federal Credit Union. Funds are not insured by the NCUA or any federal government agency.
Rates & Disclosures
Disclosures
Boat Loan Rates
| Starting APR* (Not including discounts) | Term | Loan Amount | Maximum Loan Discount | Payment Example Per $1,000 Borrowed |
|---|---|---|---|---|
| 7.74% | Up to 60 months | 0.75% | $20.15 | |
| 8.99% | Up to 84 months | $25,000 and up | 0.75% | $16.08 |
| *APR = Annual Percentage Rate. Actual rates may vary based upon credit qualifications and are subject to change without prior notification. Maximum loan discount is 0.75% for auto, boat, motorcycle, and RV/Travel Trailer loans, and 0.50% for personal loans and miscellaneous equipment loans. To view loan discounts available, click here. | ||||