EFFECTIVE DATE: July 29, 2010
| Variable** Rate APR* | Fixed Rate APR* | ||
| New Boat & Watercraft | Up to 84 months Up to 100% of Retail Value | 5.74% | 6.74% |
| 85 to 144 months (Financed Amount $30,000 or more) Up to 100% of Retail Value | 5.74% | 6.74% | |
| 145 to 240 months (Financed Amount $50,000 or more and must have sleeping accommodations, built-in cooking equipment and toilet facilities with holding tank) Up to 100% of Retail Value | 7.73% | 8.73% | |
| Used Boat & Watercraft | Up to 84 months Up to 100% of Retail Value | 6.25% | 7.25% |
| 85 to 144 months (Financed Amount $30,000 or more) Up to 100% of Retail Value | 6.50% | 7.50% | |
| 145 to 240 months (Financed Amount $50,000 or more and must have sleeping accommodations, built-in cooking equipment and toilet facilities with holding tank) Up to 100% of Retail Value | 8.24% | 9.24% |
100% financing of retail value, plus tax, license, document fees and service maintenance contracts, on approved credit.
New and used boat rates reflect 1/4% discount for automatic or payroll deducted payments.
Members who currently have at least one (1) open loan with LAPFCU and are in good standing will receive an additional 1/4% Loyalty Rate Discount at the time of approval. This rate discount can not be used in conjunction with a Promotional Rate.
All Rates and Terms are subject to change without notice.
*APR = Annual Percentage Rate. **Variable rates may increase or decrease during the term of the loan.
Payment Example (Rate effective 04/0/10): New boat/watercraft loan: A 20 year loan at 8.73% fixed APR will have 240 monthly payments of $8.83 per $1,000 borrowed.
