Boat Finance
Whether you are buying a runabout for weekend fishing, upgrading to a cabin cruiser, or adding a ski boat to the family, we make boat finance simple.
With access to 50+ lenders, we compare options across the market to find a loan that fits your boat, your budget, and how you plan to use it.
Get a free quote with no obligation and no impact on your credit score.
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How Boat Finance Works
Most boat purchases are funded through a secured loan, where the vessel itself is used as security against the amount borrowed. This means the lender holds an interest in the boat until the loan is fully repaid, which typically allows for lower interest rates and longer terms compared to an unsecured option.
For personal buyers, a consumer secured loan is the most common structure. You choose a fixed or variable rate, set a loan term (usually between three and seven years), and make regular repayments on a weekly, fortnightly, or monthly schedule. If you want to keep repayments lower on a higher value boat, a balloon or residual payment at the end of the term is available through selected lenders.
For ABN holders using a boat commercially, whether that is a fishing operation, charter business, or dive company, a chattel mortgage is typically the better structure. It allows you to claim the GST on the purchase upfront and depreciate the asset over its useful life, which creates real tax advantages that a standard consumer loan does not offer.
If the boat you are buying does not meet the criteria for a secured loan (too old, too low in value, or difficult to value), an unsecured personal loan is the fallback option. Terms are shorter and rates are higher, but it gets the deal done when secured lending is not available.
What You Can Finance with Boat Finance
We arrange finance across a wide range of vessel types and purchase scenarios.
Vessel types we finance regularly include aluminium tinnies and runabouts, fibreglass fishing boats, centre consoles, bowriders, ski and wake boats, pontoon boats, cabin cruisers, sailing yachts, catamarans, houseboats, and jet skis. If it goes on the water and holds its value, there is a lender for it.
New and used boats are both financeable. New boats from authorised dealers are the simplest transactions. Used boats are common and most lenders will consider them, though age policies vary significantly. Some lenders will finance vessels up to 15 years old without question, while others extend to 20 or even 25 years with a marine survey and evidence the boat is well maintained. Fibreglass hulls generally attract more flexibility on age than aluminium, and engine condition matters as much as hull age.
Dealer and private sales are both covered. Dealer purchases are straightforward because the invoice and asset details are verified by the seller. Private sales make up a large share of the boat market (through Boat Sales, Gumtree, marina noticeboards, and Facebook groups) and require more work. Not all lenders will finance a private sale boat, so having a broker who knows which ones will is where the real value sits. On higher value private purchases, a marine survey may be required to verify condition and value.
Package deals covering the boat, motor, and trailer together on a single loan are standard. Aftermarket electronics, safety equipment, covers, and accessories can usually be included, though some lenders cap accessories at a percentage of the total purchase price.
Loan amounts typically range from $10,000 to $250,000 or more depending on the vessel and the borrower's capacity. Most lenders have a minimum loan amount around $5,000 to $10,000, which means very low value boats may not qualify for secured finance and would sit better as an unsecured personal loan.
Who Boat Finance Is For
Boat finance suits anyone buying a vessel for personal or commercial use who prefers to spread the cost over time rather than paying cash upfront.
Recreational buyers make up the majority of boat finance enquiries. Whether you are a first time buyer picking up a secondhand tinny or a seasoned boater upgrading to a larger cruiser, personal finance lets you get on the water now while keeping your cash reserves intact for maintenance, mooring fees, and running costs.
Families and lifestyle buyers looking at ski boats, pontoon boats, or cabin cruisers for weekends away. These purchases often sit in the $30,000 to $150,000 range and are well suited to a three to five year secured loan with manageable repayments.
Fishing enthusiasts buying centre consoles or dedicated fishing boats, from small aluminium vessels through to offshore capable fibreglass builds. Fishing boats hold their value well, which makes them attractive to lenders.
Commercial operators including charter boat businesses, commercial fishing licence holders, dive operators, and water taxi services.If the boat is used primarily for business finance purposes and you hold an ABN, commercial structures like chattel mortgage or hire purchase are available with potential tax benefits.
Self employed borrowers and low doc applicants can access boat finance through lenders who assess on BAS statements or accountant declarations rather than requiring full financials. This is common for tradespeople and small business owners who want a boat for personal use but do not have traditional PAYG income documentation.
Why Use a Broker For Boat Finance
The boat lending market works differently to car finance. Fewer lenders specialise in marine assets, age policies vary dramatically between institutions, and private sale transactions require a broker who knows which lenders will actually approve the deal.
Going direct to a bank for boat finance means you get one set of criteria and one rate. If the boat is a year too old for that lender's policy, or the purchase is a private sale they will not fund, you get declined and have to start again elsewhere, with another credit enquiry on your file.
With access to 50+ lenders, we match the boat, the purchase type, and your financial profile to the right lender from the outset. That means knowing which lenders are comfortable with older vessels, which ones will finance a private sale without a marine survey under a certain value, and which offer the best rates on new boats from dealers.
We handle the full process: comparing options, submitting the application, managing lender requests for additional information, and coordinating settlement so you can collect your boat on time. You deal with one person from start to finish, not a call centre.
Get a Free Boat Finance Quote
Compare options from 50+ lenders with no obligation. Tell us about the boat you are buying and we will find the right finance to match.
Getting Boat Finance
Step 1: Tell Us About the Boat
Call us on 0416 960 969 or fill in the form below. Let us know the type of boat you are looking at, whether it is new or used, dealer or private sale, and the approximate purchase price. We will also ask about your income, employment situation, and what repayment structure you prefer. This initial conversation takes about ten minutes.
Step 2: We Compare and Recommend
We assess your details against our panel of 50+ lenders and come back to you with the options that fit. We explain the rates, terms, fees, and any conditions (like insurance or survey requirements) so you can make an informed decision. No jargon, no pressure.
Step 3: Approval and Settlement
Once you choose an option, we submit the full application. Approvals typically come through within 24 to 48 hours. We coordinate directly with the lender and the seller (dealer or private) to settle the funds so you can collect your boat.
Boat Finance FAQs
Ready to Finance a Boat? Compare Australia's Top Lenders
Call us on 0416 960 969 for a same business day response, or fill in the form below and we will be in touch with your options.