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Boat Loans

Stop letting your desire to own a boat remain a dream. Contact 360 Financial Services for information on our great choice of loans to get you in the water sooner. We offer a range of loans and services to get you through the process of owning your own boat without the hassle and worry.

Boat Loans Are Our Specialty

We are a reputable broker who works with a number of boat and marine financial lenders to bring you the best loan for your current financial situation. Whether you want a small number to while away the days and catch fish or a larger vessel to host special occasions we can help you find the boat and secure the best loan for you. We also offer insurance and refinancing services to meet all of your needs.

Benefits With a Low Rate Boat Loan From 360

Buying a boat or marine vessel does not have to be a difficult and complicated process. 360 Financial Services will help you with everything to secure yourself an affordable personal boat loan. We are also able to offer you competitive rates and terms thanks to our partnership with over 30 financial lenders.

  • May be able to borrow cost of insurances and warranties
  • Flexible terms of 2 to 7 years
  • Fixed or variable interest rates
  • Deposit may not be needed
  • Tax deductions may be possible
  • Balloon repayment option will minimise your repayments

Boat loan terms explained

Secured:

A secured loan is fixed against another asset you already own such as your house, shares or vehicle. It is often the boat you are purchasing for the current loan that is used to secure the loan. This means there is less risk for the broker and you will enjoy greater flexibility in the rate and conditions with your personal boat loan.

Unsecured:

An unsecured loan is not fixed against an asset, including the vessel for purchase itself. The boat loan is determined by your personal financial circumstances. You can choose to use cash or savings to obtain a better deal for the loan too. Also, because the loan is not tied to an asset you are free to sell the vessel for good or to upgrade without impacting on the initial loan.

Length of loan:

This refers to the total time repayments will need to be made against the loan. The timeframe for your repayments will be based on any deposits, cost of vessel, interest rate and final balloon payment.

Balloon/Final Payment:

A balloon payment is the final payment made in the schedule of your loan. It is usually higher than the weekly or monthly repayments and results in the ownership of the boat being transferred to you completely. The amount of this payment affects the continual repayments as the larger it is the smaller the monthly repayments will be. But you must keep in mind the need to produce the final balloon payment to gain full ownership of the vessel.