Guidelines to Know

The State Farm Federal Credit Union (SFFCU) benefit helps members finance more than autos and trucks – we provide loans for boats, motorcycles, RVs, trailers and other vehicles.

Before hitting the road, trails or waterways, check out our guidelines prior to submitting your loan application.

Guidelines

  • Total financing may include boat motors and trailers.  We will also finance tags, tax & title.
  • Financing limited to watercraft that are 32 feet or less in length.
    • Note: any watercraft requiring Coast Guard documentation & Marine Mortgage (Ship Mortgage) filed in lieu of state titles or Uniform Commercial Code (UCC) filings is ineligible, regardless of length. Financing of commercial watercraft is prohibited.
  • Boats used as a residence are strictly prohibited.
  • Outboard motors are only financed in conjunction with a boat.
  • Maximum Loan Amounts are based on the Loan-to-Value (LTV)%. The LTV% used in the final approval amount factors in the collateral type, loan type, and an evaluation of the applicant(s) credit.
  • Cash out loans using free & clear titles as collateral are not available.
  • Loans are intended for personal use vehicles and trailers only.  Vehicles or trailers intended for commercial use are excluded.
  • Maximum Loan Amounts are based on the Loan to Value (LTV)%. The LTV% used in the final approval amount factors in the collateral type, loan type, and an evaluation of the applicant(s) credit.
  • Cash out loans using free & clear titles as collateral are not available.
  • Recreational vehicles used as a residence are strictly prohibited.
  • Maximum Loan Amounts are based on the Loan to Value (LTV)%. The LTV% used in the final approval amount factors in the collateral type, loan type, and an evaluation of the applicant(s) credit.
  • Cash out loans using free & clear titles as collateral are not available.
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