Looking to get out on the water? Let Aussie Boat Loans take the hassle out of obtaining your boat finance, whether you’re buying from a boat dealership or a private seller.
As credit representatives of a reputable finance company, we can tailor a loan package ideal to your individual situation with competitive interest rates.
There are two types of boat loans available for personal use; secured boat loan or unsecured loan (see descriptions below). Aussie Boat Loans predominantly organise secured finance for your purchase, which can then be repaid over a period of up to 5 years.
Try our easy to use boat finance calculator to get an indicative look at what your repayments will be for a range of the months you select. You can make payments weekly, fortnightly or monthly by internet banking, direct debit, direct-payroll deductions, BPAY, or other payment methods where applicable.
Our video section can also help you to get some important information related to watercraft and boat finance.
For added peace of mind, you can also add marine insurance to your loan. We can assist with comprehensive insurance, boat warranty, security shortfall (Gap) and loan protection insurance.
Boat Loan Interest Rates
We provide boat loans with a fixed interest rate, which means the interest is calculated on the unpaid balance daily, just like a home loan, and you can rest assured that you'll have the same interest rate for the life of the loan. Extra or additional payments will obviously reduce the outstanding balance and therefore reduce the interest charges. This can ultimately shorten the loan term and reduce the overall cost.
Current New & Used Boat Loan Rates
Rate for Private Purchase
from 6.97%
comparison8.86%*
Rate for Dealer Purchase
from 6.97%
comparison8.86%*
Rate for Business Vehicles
from 5.7%
comparison *
Disclaimer
* The repayment amount shown using this boat loan repayment calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by AFPL. Interest rate of 6.97%(Comparison Rate 8.86%) only applicable for new goods (new vehicle finance) that have not been pre-owned, where the amount borrowed is greater than $35,000, the applicant owns or is buying a property and has a good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on credit scoring and our final assessment of your application. Credit provider is Automotive Financial Services – Australian credit licence 383762.
^Comparison rate for AFS Loan Contract and Mortgage is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Disclaimer
* The repayment amount shown using this boat loan repayment calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by AFPL. Interest rate of 6.97%(Comparison Rate 8.86%) only applicable for new goods (new vehicle finance) that have not been pre-owned, where the amount borrowed is greater than $35,000, the applicant owns or is buying a property and has a good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on credit scoring and our final assessment of your application.
^Comparison rate is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Disclaimer
* The repayment amount shown using this boat loan repayment calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by AFPL. Interest rate of 6.97%(Comparison Rate 8.86%) only applicable for new goods (new vehicle finance) that have not been pre-owned, where the amount borrowed is greater than $35,000, the applicant owns or is buying a property and has a good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on credit scoring and our final assessment of your application.
^Comparison rate is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Balloon Payments
Balloon payments or residual options are also available. A balloon payment is essentially a lump sum that you pay at the end of the loan. By setting a balloon payment for the end of the term you can reduce your monthly payments to satisfy your budget. At the end of the term, you can either pay out the full amount, upgrade your boat or re-finance the balloon amount and continue paying off the asset over a new loan period (subject to approval conditions at that time).
Secured Boat Loans
This is a type of loan that uses the purchased boat, marine vessel or another asset as collateral or security for the loan so that if you can't make your agreed repayments, your lender has the right to take possession of the secured asset and sell it to cover the remaining cost of the loan. This is the most common form of boat loan provided in Australia.
Secured loans have a lower interest rate than unsecured loans, and have a minimum loan amount of $5,000. Some other conditions include:
The vessel must be 8 years old or less.
Fixed Interest Rate.
3 - 5 year loan term.
Unsecured Boat Loans
This is a very versatile loan, as it can be used for nearly any purpose including debt consolidation, for a holiday, wedding, or even boats that do not qualify for the secured loans option. There is no security required for this type of loan, and as a result, interest rates are higher than secured loans as they are riskier for the lender.
***Please note that Aussie Boat Loans only provide secured loans, with a minimum loan amount of $5,000.
Contact us today to arrange a marine finance package for your next boat or apply online!
