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Boat, RV, ATV, Or Motorcycle

Q: What types of recreational vehicles can I finance with Royal Credit Union?

Royal Credit Union offers financing for a wide range of recreational vehicles, including boats, RVs, motor homes, campers, hauling and travel trailers, motorcycles, ATVs, dirt bikes, farm machinery, garden tractors, jet skis or personal watercraft, and snowmobiles.

Q: What is a balloon loan, and how does it apply to recreational loans?

A balloon loan allows borrowers to make lower monthly payments based on a longer amortization schedule, with a remaining balance due as a lump sum at the end of a shorter term. At Royal Credit Union, boats, RVs, travel trailers, and motor homes may amortize up to 180 months with a five-year balloon, meaning payments are calculated over 180 months but the remaining balance is due after five years. Balloon loans do not qualify for GAP with Deductible Assistance coverage.

Q: How fast can I get approved for a recreational loan at Royal Credit Union?

Royal Credit Union offers a simple application process with fast approvals and local servicing. Many recreational loan applications receive same-day decisions, although approval times may vary depending on the application details.

Q: What is GAP protection, and should I consider it for my recreational loan?

Guaranteed Asset Protection (GAP) is an optional add-on that can help cover the difference between what you owe on your loan and what your insurance pays if your recreational vehicle is totaled or stolen. It may also include Deductible Assistance, which can reimburse up to $500 per claim for covered damage not resulting in a total loss, with a maximum of two claims per 12 months.

Q: Is payment protection available on Royal's recreational loans?

Yes. Payment protection is an optional feature that may cancel your loan balance or temporarily cover payments in the event of death, disability, or involuntary unemployment. Limitations and exclusions apply.

Q: Do I need full coverage insurance on my recreational vehicle when financing with Royal Credit Union?

Yes. Royal Credit Union requires full coverage insurance, including comprehensive and collision, on financed recreational vehicles such as boats, RVs, motorcycles, and similar assets. Royal Credit Union must be listed as lienholder on the policy. If coverage lapses, Royal may place insurance on the vehicle, which may be at a higher cost.

Finance your next adventure with a recreational loan at Royal!

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Fire up the fun when you finance your boat, motorcycle, or recreational vehicle with Royal! We offer great rates on loans for a variety of non-auto vehicles. If it revs, rides, or runs, chances are we can help you bring it home. We offer an easy application process, fast approvals, and local loan servicing.

The following types of collateral are eligible:

Boats
Recreational vehicles (RVs)
Motor homes
Campers

Hauling or travel trailers
Motorcycles
ATVs
Dirt bikes

Farm machinery
Garden tractors
Jet skis or personal watercraft
Snowmobiles

Current Boat, RV, ATV, Or Motorcycle Rates

Term

APR

Monthly Payment

Frequently Asked Questions

What types of recreational vehicles can I finance with Royal Credit Union?
Royal Credit Union offers loans for a wide variety of recreational vehicles, including boats, recreational vehicles (RVs), motor homes, campers, hauling or travel trailers, motorcycles, ATVs, dirt bikes, farm machinery, garden tractors, jet skis or personal watercraft, and snowmobiles.

What is a balloon loan, and how does it apply to recreational loans?
A balloon loan allows you to make smaller monthly payments based on a longer amortization schedule, with the remaining balance due as a lump sum at the end of a shorter loan term. At Royal Credit Union, boats, RVs, travel trailers, and motor homes can amortize up to 180 months with a five-year balloon. This means your monthly payments are calculated as if the loan is spread over 180 months, but the remaining balance becomes due after five years. It's important to note that balloon loans do not qualify for GAP with Deductible Assistance coverage.

How fast can I get approved for a recreational loan at Royal Credit Union?
Royal Credit Union offers an easy application process, fast approvals, and local loan servicing. Same-day decisions are available on most loan applications, though approval times may vary. This means you can often get a decision quickly and be ready to make your purchase without a long wait.

What is GAP protection, and should I consider it for my recreational loan?
Guaranteed Asset Protection (GAP) is an optional loan add-on product that can help protect you financially. If your recreational vehicle is deemed a total loss due to an accident or theft, you may wind up owing more on your loan than your insurance will cover, and GAP can help reduce or cover that difference. GAP also includes Deductible Assistance, which pays up to $500 per claim if your vehicle is damaged but not deemed a total loss, with a maximum of two claims every 12 months.

Is payment protection available on Royal’s recreational loans?
Yes. Payment protection is an optional feature that can cancel your loan balance or temporarily cancel payments in the event of death, disability, or involuntary unemployment. Limitations and exclusions apply.

Do I need full coverage insurance on my recreational vehicle when financing with Royal Credit Union?
Yes. Royal Credit Union requires you to carry full coverage insurance, including comprehensive and collision, on any boat, RV, motorcycle, or other recreational vehicle financed with Royal. Royal Credit Union must also be listed as the lienholder on your insurance policy. If your coverage lapses, Royal may place insurance on your recreational vehicle on your behalf at a higher cost.

Meet Steve Catlin, Member Since 2013

Helpful Tools & Calculators

Try one of our calculators or get more info about the loan process.

*Same-day approval available on most loans; loan approval times may vary. Offer subject to change at any time. Interest will continue to accrue on the loan balance from the origination date until the deferred payment start date.