boat loans
Boat financing options to fit your needs
From waterborne jet skis to pontoons and speeders, boat loans from ALEC enable you to hit the open waters no matter where you choose to roam. ALEC boat loans make savings fun by putting you at the Captain’s helm of your loan.
Check Rates
Loan Discount1
Up to 115% Financing2
Flexible Terms
We’ve got the boat financing to fuel your passion with rates as low as
4.99%
APR* up to
60 months2
The Benefits of our Boat Loans
Competitive Low Rates
Up to 0.50% Loan Discount1
Instant Approval3
Terms up to 240 months4
24/7 online and phone support
No Prepayment Penalties5
Boat Loan Rates
ALEC is proud to provide outstanding rates and term lengths to all members of our banking family.
| Type | Loan Term | APR* as low as2 |
|---|---|---|
| New & Used Boats, Marine 2018-2025 | Up to 24 months | 4.49% |
| 36 months | 4.49% | |
| 48 months | 4.99% | |
| 60 months | 5.24% | |
| 72 months | 5.49% | |
| 84 months | 5.99% | |
| Extended Term Boats3 2018-2025 | 120 months | 6.49% |
| 180 months | 6.99% | |
| 240 months | 7.49% |
Special ways to safeguard your boat. And your loan.
Have questions? We're here to help.
* APR = Annual Percentage Rate. All loans subject to credit approval. Rates subject to credit history, term and other factors. Not all applicants will qualify for our lowest rates. Rates can change daily.
1. ALEC members who have a current loan with ALEC and are applying for a new loan will automatically receive a 0.50% APR rate discount. New loan members who do not have any current loans with ALEC must have an ALEC Checking Account (Free or Rewards) with $500 in direct deposit per statement cycle AND be enrolled in E-Statements to be eligible for the 0.50% APR discount. Discount is not valid on credit cards, mortgage, Personal Lines of Credit and Home Equity Line of Credit.
2. Your rate may be higher depending on your credit history, age of vehicle, term of your loan and services used. Maximum financing up to 115% MSRP for qualified borrowers.
3. All loans subject to credit approval. Rates subject to credit history, term, and other factors. Please allow up to 30 days for processing time.
4. 84-month and Extended Term Boat and RV loans are available with a minimum $50,000 loan amount.
5. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note: first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
1. ALEC members who have a current loan with ALEC and are applying for a new loan will automatically receive a 0.50% APR rate discount. New loan members who do not have any current loans with ALEC must have an ALEC Checking Account (Free or Rewards) with $500 in direct deposit per statement cycle AND be enrolled in E-Statements to be eligible for the 0.50% APR discount. Discount is not valid on credit cards, mortgage, Personal Lines of Credit and Home Equity Line of Credit.
2. Your rate may be higher depending on your credit history, age of vehicle, term of your loan and services used. Maximum financing up to 115% MSRP for qualified borrowers.
3. All loans subject to credit approval. Rates subject to credit history, term, and other factors. Please allow up to 30 days for processing time.
4. 84-month and Extended Term Boat and RV loans are available with a minimum $50,000 loan amount.
5. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note: first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.