Boat Loans

Enjoy life on the water without worrying about your boat financing.

Benefits of Credit Union Boat Loans

Affordable Rates

Members of our Richmond community can enjoy lower rates and borrowing costs.

Range of Terms

Loan terms of 36 to 84 months mean you can get a monthly payment to fit your budget.

New and Used

Get up to 100% financing to cover the complete purchase of your preferred boat or watercraft.

Local Service

Get expert guidance and ongoing support for boat loans and all our other products.

Rates for Boat Loans in Richmond

Call Federal Credit Union has been offering our members competitive interest rates since 1962 so you can buy the vehicles you need to enjoy our unique way of life. Low rates give you a wider choice of boats and other watercraft!

Rates/APR Maximum Loan Term
Leisure Vehicles (Boats) 7.24%-16.75% 84 months
(7 years)

Our Boat Loans Can Get You Out on the Water Faster

The James River is one of Richmond’s best features along with our many surrounding lakes. That’s why we offer affordable boat financing so you and your family can make the most of life on the water in our special part of Virginia.

  • Available for purchase or refinance.
  • Get up to 100% financing to cover all costs.
  • Competitive fixed rates and APR* based on your credit and loan term.
  • Loan terms between 36 and 84 months.
  • Rate discounts available up to 0.75%:
    • 0.50% Loyalty Discount
    • 0.50% Education Discount
    • 0.25% Automatic Transfer Discount
  • Easy payments by automatic transfer, online transfer, by check, or over the phone.
  • Option to make no payments for 45 days.**
  • No application fee.

A father and son enjoy fishing on a boat bought with a boat loan.

Simple Application for a Call Federal Credit Union Boat Loan



Apply Online

Use our simple, secure online portal to provide your details and start your application.


Review Offer

If you’re pre-approved, we’ll offer you a loan amount and likely rate for your preferred term.


Find Your Boat!

With your financing secure, you can look for your ideal boat and we’ll pay the dealer directly.



“Superior customer service. Knowledgeable, professional and authentically friendly staff.”

Shellie A., Richmond, VA


FAQ About Boat Loans

Boat loans give you the financing to purchase a boat or personal watercraft from a dealership or online store. Here are the simple steps you'll follow:

  • It's a good idea to use a loan calculator and get pre-approved for your loan before you shop for a boat so you know your ideal monthly payment and purchase price.
  • Choose a shorter loan term to save on interest or a longer loan term for more affordable payments.
  • Once you find the boat you want to buy, Call Federal will write a check and pay the dealer or seller directly for you.
  • You can borrow enough to cover any fees or other costs related to your boat purchase, but the extra funds should be for those purposes only.
  • After the loan is finalized, you start making regular monthly payments until your loan is paid off in full.
  • Keep in mind that it is a secured loan, so you need to keep up with your payments to retain ownership of your boat.

Credit unions exist to serve their members, not outside stockholders. For Call Federal, that means we can offer lower rates on loans, higher rates on deposits, and fewer fees to our members in the Greater Richmond metro area. We also offer a streamlined boat-buying experience!

  • We can pass our revenue back to you because we're not-for-profit.
  • You can offer better rates and terms and lower fees – or no fees on certain products.
  • While all loans are subject to credit approval, we will listen to your story and work with you to improve your credit score so you can get the loan you need.
  • Boat loans are generally much more affordable than making a similar purchase on a credit card.
  • We can help explain all terms and conditions and if any other restrictions may apply.
Please contact us to find out how we can help you and your family get an affordable boat loan.

Boat Loan Resources


What Will My Interest Rate Be?

Interest rates have a significant impact on your monthly payment and your total cost of borrowing. Your rate is usually based on factors like your credit, loan term, and vehicle model. Call Federal can work with you to get the best possible rate.

The Cost of Boat Ownership

Getting affordable financing is just the first step when it comes to successfully purchasing a boat. You also want to consider pre-purchase inspections, boat trailers, training, safety equipment, insurance, and registration.

Tips and Tricks on Buying a Boat

Find out what information you need to know about the boat you want to buy, get a link to our Private Bill of Sale form, learn about terms and rates, and access resources on title and registration so you’ll be all set to complete your purchase.


Product Term (months) Rate Amount Payment
New Vehicle 72 6.49% $45,000 $759
Used Vehicle 60 6.49% $25,000 $491
Leisure Vehicle 60 7.00% $10,000 $199
Leisure Vehicle (Boat) 60 8.75% $15,000 $311
Recreational Vehicle 60 7.50% $25,000 $503
Personal Loan 36 9.75% $5,000 $162

*APR = Annual Percentage Rate. APR listed assumes a 36-month term, 100% loan-to-value (LTV), top-tier credit, and maximum rate discount of .75% with Call’s Rate Discount Program. All discounts are only available at the time the loan is processed. Current motorcycle loan rates range from 7.24%-16.75% APR. Rates subject to change but will not exceed 18.00%. Not all will qualify for the lowest rate. Income and insurance verification required. Other restrictions and conditions may apply. **Loan will still accrue interest with no payments for 45 days.