Boat Finance

A boat or yacht is a hefty investment that often involves higher loan amounts, larger down payments, and longer repayment terms than a car loan.

At Loan Warehouse, we can help you obtain a fast, affordable, and secure boat loan.

Before you sign a boat loan offer, make sure to study the loan terms, including finance rates, repayment period, and any fees and charges. Too many Australians overpay on boat loans because they enter agreements on unfavourable terms or borrow more than they can afford.

Working with Loan Warehouse will help you obtain the best boat loan rates in Australia. Our efficient application process and industry connections can save you time, effort, and money.

To qualify for a boat loan in Australia, applicants need to be Australian citizens 18 years or older. Potential borrowers also need to provide a fixed residential address and prove that their income can support the boat loan and any other financial commitments.

Additionally, lenders will typically examine your credit score and make sure you match their lending criteria. Keep in mind that loan requirements may differ for personal vs commercial boat loans.

Some boat loan plans in Australia are only open to borrowers with high credit scores. Sometimes, lenders will consider applicants with average or bad credit scores, but these loan programs usually come with higher interest rates and harsher repayment terms.

If you have a low credit score or problematic credit history, our brokers at Loan Warehouse may still be able to help you qualify for a boat loan. We cannot promise loan approval, but we can match you with a boat loan provider who works with clients in similar financial situations.

In secured boat loans, the boat, yacht, or jet ski serves as collateral. This means that if the borrower fails to comply with loan terms, the lender may take possession of the marine vessel and sell it to recoup any unpaid debt.

Secured boat loans usually come with lower interest rates and more flexible terms than unsecured loans. Unsecured loans also typically require a more rigorous application process.

You can easily apply for boat finance by calling us or filling out our quick online form. One of our boat loan brokers will contact you shortly to counsel you on finance options.

To proceed with your loan application, you will need to provide the following information: your full name, birth date, and at least three years of employment and living history. On top of that, lenders will usually request specific information about your income vs expenses, existing debts, and credit history.