Boat Loans
Get on the water sooner with affordable boat loans from Bowater Credit Union—straightforward financing for new and used boats with local service from start to finish. Apply NowNew Boat Loan Rates as low as: 6.99% APR*
Used Boat Loan Rates as low as: 7.49% APR*
Boat Loans Fit For Your Next Adventure
Get local boat financing for most types of watercraft, including cabin cruisers and houseboats.
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Great Rates
Competitive boat loan rates with predictable monthly payments.
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Flexible Terms
Choose a repayment term that works for you—60 months is the most common.
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Fast Approvals
We move your application along quickly, with clear next steps and responsive support from our local team.
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Loan Refining
Refinance an existing boat loan from another lender to lower your rate or pay off sooner.
Better Boat Loans For Less
Whether you’re buying a fishing boat, pontoon, cabin cruiser, or houseboat, Bowater Credit Union can help you finance your next adventure with local service and straightforward lending.
Boat loan features may include:
- Financing for new and used boats
- Rates as low as 6.99% APR* (new) and 7.49% APR* (used)
- Most common term: 60 months (other terms may be available)
- Boat loan refinancing to help you save and adjust your current term.
- Down payment and collateral requirements vary by loan
How to Apply for Boat Financing
Apply Online
Apply online in minutes — or visit a branch if you prefer.
Review and Sign
Review your loan details, confirm your purchase price and terms, and sign to finalize.
Get Your Check!
Once approved, we’ll provide the funds so you can complete your purchase.
★★★★★
“Been with this bank about seven years now
and the staff is excellent. Love the service!”
– William H., Athens, TN
Why Choose Bowater CU?
Bowater Credit Union has served southeastern Tennessee since 1954 with honest advice, local support, and competitive pricing. Because we’re member-owned and not-for-profit, we focus on delivering value to members, not maximizing profits for shareholders.
When you’re shopping for boat loans, you’ll work with a local team from application to payoff, plus enjoy easy access through four branches, online and mobile banking, and a large network of surcharge-free ATMs.
FAQ About Boat Loans
What types of boats can I finance with a Bowater Credit Union Boat Loan?
You can finance most types of boats, including cabin cruisers and houseboats.
Do the same rates apply to cabin cruisers and houseboats?
Yes. Our boat loan rates apply across eligible boat types, including cabin cruisers and houseboats.
Can I finance a used boat?
Yes. We offer financing for both new and used boats, including cabin cruisers and houseboats.
Are boat loans fixed or variable rate?
Boat loans offer fixed interest rates, so your payment stays predictable over the life of the loan.
Can I refinance my current boat loan with Bowater Credit Union?
Yes. You can refinance an existing boat loan from another lender to lower your rate or shorten your term.
Do I need to be a member to apply for a boat loan?
Yes, membership is required. You may be eligible if you live, work, worship, or go to school in Bradley, McMinn, Meigs, Monroe, or Polk County; if you’re a family member of a current member; or if you work for one of our partner companies.
Explore Other Loan Options
RV Loans
Turn weekends into road trips. Our RV loans help you finance the camper or motorhome you want—without the hassle.
Personal Loans
Handle life’s plans and surprises, home updates, medical bills, or major purchases, with one simple personal loan.
ATV Loans
From backroads to trails, our ATV loans help you get into a four-wheeler or side-by-side and get out there.
*Annual Percentage Rate. The rate shown is the lowest available rate. Your rate may be higher depending on your credit score. Approval is not based on credit score. Rates and terms subject to change without notice. Terms and conditions apply.