Boat & RV Loans

The right loan for your adventure.

New and used vehicles

Flexible loan terms

Refinancing available

Boat and recreational vehicle loans.

Whether you want to finance that boat you've been dreaming of or finally hit the open road in a RV, Michigan First can help finance the recreational vehicle you have in mind.

We offer financing for eligible new and used boats, jet skis, motor homes, campers, ATVs and snowmobiles. Refinancing options are also available for qualifying recreational vehicle loans currently held by another lender.

What recreational vehicles can you finance?

Michigan First offers financing for a range of eligible recreational vehicles.

Boats
Finance an eligible new or used boat with repayment terms of up to 240 months.
Jet Skis and Personal Watercraft
Finance a new or used jet ski or other eligible personal watercraft for time on Michigan’s lakes.
Motor Homes
Purchase or refinance an eligible motorized RV for road trips, extended travel or seasonal use.
Campers
Financing may be available for eligible new and used campers, including qualifying towable recreational vehicles.
ATVs
Finance an eligible new or used all-terrain vehicle for trails, recreation or use on private property.
Snowmobiles
Purchase or refinance an eligible new or used snowmobile for Michigan winters.

Recreational vehicle loan features

The maximum term is not available for every loan. Your available rate and repayment period will depend on factors including the type and age of the vehicle, amount financed and your credit qualifications.

Financing for eligible new and used boats, jet skis, motor homes, campers, ATVs, and snowmobiles

Competitive interest rates
Financing and repayment terms of up to 180 months
Boat financing terms of up to 240 months
Refinancing options available
Several ways to apply

Should you finance a new or used recreational vehicle?

Michigan First provides financing for both eligible new and used recreational vehicles. The better fit depends on your budget, priorities and how you plan to use the vehicle.

Financing a new recreational vehicle

A new boat or recreational vehicle may include updated features and a manufacturer’s warranty. However, it will generally have a higher purchase price and may lose value more quickly during its first years.

Financing a used recreational vehicle

A used vehicle may offer a lower purchase price and experience less immediate depreciation. Its age, condition and value can affect loan eligibility and the repayment terms available.

Before buying used, consider requesting maintenance records, reviewing the title and arranging an appropriate inspection.

Refinancing a boat or recreational vehicle loan

Refinancing replaces your existing recreational vehicle loan with a new loan. Michigan First may be able to refinance an eligible boat, RV, camper, jet ski, ATV or snowmobile loan currently held by another lender.

Depending on the financing available, refinancing may allow you to:

Lower your interest rate
Reduce your required monthly payment
Change your repayment term
Reduce your remaining interest expense
Move your loan to Michigan First

A lower payment does not always mean a lower total cost. Extending the repayment period can reduce the monthly payment while increasing the total interest paid.

Compare your existing rate, remaining balance and payoff period with the complete terms of the new loan before refinancing.

How much recreational vehicle can you afford?

Your loan payment is only one part of owning a boat or recreational vehicle. Before deciding how much to borrow, consider:

Your down payment
The estimated monthly loan payment
Sales tax, registration and title costs
Insurance
Fuel
Maintenance and repairs
Storage, docking or campsite expenses
Transportation or towing costs
How frequently you expect to use the vehicle
Savings available for unexpected expenses

Choosing a vehicle that fits your complete budget can help you continue enjoying it after the purchase is complete.

Make more of your time away

Whether your next adventure takes you across Michigan, onto the water or down a snow-covered trail, Michigan First can help you finance an eligible new or used recreational vehicle.

Review current rates, estimate your payment and apply when you are ready to get started.

Frequently asked questions

View All FAQs

Do I have to be a Michigan First member to apply for a loan?

Yes. You must become a Michigan First member before applying for a consumer loan. Membership is open to anyone who lives, works, or worships in Michigan and begins by opening a Michigan First Savings Account with a minimum $10 deposit.

What credit score do I need to qualify for a Michigan First loan?

Michigan First does not use one minimum credit score for every loan. Approval and available rates depend on factors such as the type of loan, your credit history, income, existing debts, and ability to repay. Applying is the best way to learn which options and rates may be available to you.

Can I refinance an auto loan from another lender with Michigan First?

Yes. You can apply to refinance an eligible auto loan from another lender with Michigan First. Refinancing could help you lower your interest rate, change your monthly payment, or adjust your repayment term - although actual savings and available terms depend on your current loan and approved offer.