Boat Loans & Marine Finance

(also see Dealer Supplied and Boats and other marine craft)

This is a typical secured consumer Loan which is used by individuals, who wish purchase a new or used boat, through an authorised boat dealer or broker. A consumer based Loan requires that the goods are used as security.

The boat cannot generally be older than 12 years at the end of the contract (exceptions do apply), so if you are looking to finance a boat over 5 years then you should generally look at a 2000 or newer. This type of loan falls under the consumer credit code (UCCC) where the interest rate, commission and other fees are disclosed on the contract.

Benefits:

No deposit is generally required, but you may still contribute to reduce the amount you finance and lower your payments
Trade in your current boat to reduce your payments
The boat being financed is in most cases sufficient security for the financier
The interest rate is fixed for the term of the loan which means your repayments don't alter
Pay the loan out in full at anytime
Tailor your repayments to suit your cash flow for example put a balloon payment at the end to reduce your repayments (conditions apply)

Features:

You can finance the asset from 1 year to 5 years
Finance amounts start from only $10000
Choose your own repayment frequency to suit your individual needs Fortnightly, Monthly, quarterly, semi-annually, annually, or irregular
And make your repayments via D-debit, BPAY, coupon book