getting a boat loan can be quick & easy
Boat Loan rates as low as 6.74% APR*, fixed.
We have some of the lowest boat loan rates in Spokane! Check with us first to finance or refinance your new or used boat so you can get to enjoying the fun things like fishing, cruising around and playing water sports with your sweet new boat.
Benefits of boat loan financing/refinancing at Canopy:
- We offer up to 100% boat loan financing so you can enjoy your new boat sooner rather than later
- Our flexible term options make your monthly loan payments fit comfortably in your budget.
- With some of the lowest rates in town, you can feel confident with your savings when you head out on the water.
* Annual Percentage Rate, may vary based on approved credit. Lowest rate includes 1/4% off for automatic payment from a Canopy checking account and 1/4% off for additional services. Fixed rates range from 6.74% APR to 17.99% APR. Other rates and terms are available. Payment example: a $35,000 Boat Loan at 6.74% APR and a 120 month term would result in monthly payments of approximately $405.
- fixed rate boat loan
With a low, fixed rate boat loan you’ll know exactly how much you’ll be paying on your new or refinanced boat for the duration of your loan. This means your interest rate will be set and locked in, unlike a variable rate which can change at any time set by the terms of the variable rate loan. With a fixed rate boat loan from Canopy Credit Union, you’ll be able to set your budget for exactly the amount you’ll need for your payment every month, making planning everything else that much easier.
“Canopy made the entire process extremely easy for us and completed everything online through email so we didn’t even have to leave work. They communicated with us every step of the way so we knew what stage of the process we were at. Our Member Advocate, Jessica, was friendly, positive and extremely helpful!”
– Lorem I. | ☆☆☆☆☆
boat loan calculator
Find out what your monthly payment will look like with our easy-to-use boat loan calculator!
boat loan FAQs
We work hard to make sure we get back to you as soon as possible. We will follow-up with you within 1-2 business days.
Your interest rate will depend on your credit score. If you're an existing Canopy member you can access your credit score for free with the Credit Score tool from Savvy money after logging into your account. Otherwise, you can find a rough estimate of your credit score by downloading apps like Credit Karma and/or Credit Sesame but your true credit score will most likely be different when we pull it for your application. You can get one free credit pull per year (without having to apply for a loan) at annualcreditreport.com. Learn more about what makes up a credit score and how you can improve it in our blog What Makes up a Credit Score.
Yes, whenever you apply for a loan it is considered a hard pull/inquiry and will have a small effect on your credit score. Find out more about hard pulls and inquiries.
We’ll need your most recent paystub, current boat insurance information, and if you’ve already chosen the boat at a dealership you’ll need a purchase order for it.
Yes! You absolutely can.
We offer loan terms anywhere from 1-15 years depending on the value of the boat. To find out more information, give us a call at 509.328.2900 or send us a webchat!