Marine Asset Financing
This asset acquisition finance product is available for operators in the marine sector to purchase vessels for operation in their business.
Best Rates, Individual Service - Commercial Hire Purchase Boat Loans
Secure the most competitive rates on Commercial Hire Purchase Boat Loans with our expert marine finance brokers. As specialists in marine financing, we have the resources and expertise to secure the best Hire Purchase interest rates from across our 80+ lender base. Individually sourcing and structuring financing solutions to suit the business profile and target key objectives of our customers.
Whether acquiring commercial trawlers and workboats, PWCs and houseboats for a hire business, buying a charter yacht or cruise function vessel, using our expert services can deliver significant benefits. To discover the advantages of using our services and the interest rates we can secure for your CHP marine finance, speak with one of our brokers, or submit an online enquiry.
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With over 25 years of experience in finance, we have a reputation for negotiating great rates with same-day approvals.
Get Quick Estimates – Commercial Hire Purchase Boat Loan Calculator
Wondering how much CHP marine finance repayments may be on different vessels? Looking to prepare a budget for acquiring boats with finance? Use our CHP Marine Finance Calculator. This convenient online calculator can be used to work up repayment estimates for any boat purchase, quickly and easily.
Use at any time, any place with online connections, and contact us for a CHP boat loan quote specific to your business and your boat!
- Calculate CHP boat loan estimates.
- Fast boat loan calculator.
- Online budgeting and planning tool.
Overview of Commercial Hire Purchase Marine Finance
Commercial Hire Purchase is also referred to as Hire Purchase or CHP. It is a form of commercial credit facility, not a vehicle for hiring or renting vessels.
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Leasing and Chattel Mortgage Features
Commercial Hire Purchase Boat Loans have features similar to both Leasing and Chattel Mortgage and features unique to this credit facility. As with Boat Leasing, the lender purchases the vessel and ‘hires’ it to the borrower for a set monthly fee – the loan repayment.
Depreciation Benefits
Similar to Chattel Mortgage, the ownership of the vessel does revert to the borrower so the asset can be depreciated in the annual accounts. Over the term of the finance, the borrowing business is responsible for all operating costs for the vessel including insurance, maintenance, registration and repairs.
Attractive Interest Rates
Interest rates on Hire Purchase Marine Finance are the most attractive in commercial credit and on par with Chattel Mortgage across the commercial lending market. Also similar to Chattel Mortgage, a balloon component is included in CHP finance which is a portion of the loan which is due for finalising after the last monthly repayment is made. The balloon may be finalised as a lump sum or refinanced.
Cash and Accrual Accounting
Unique to Commercial Hire Purchase Boat Finance is its suitability to both the cash and the accruals methods of accounting. This allows businesses using either method, access to competitive CHP boat loan interest rates.
Wide Range of Watercraft
Commercial Hire Purchase Boat Financing can suit a range of businesses and many types of watercraft from small jet skis and PWCs through to large commercial fishing trawlers. Both new and used commercial vessels may be financed with CHP boat loans. Used vessels may attract different rates and collateral requirements to loans for new boats.
Expert Guidance on CHP Boat Loans for Various Accounting Methods
We recommend that operators discuss if CHP is the most suitable credit facility for their set-up with an accountant. To discuss the best Hire Purchase Marine Loan we can source for you, speak with us!
- Versatile commercial credit facility.
- CHP Boat Finance for commercial vessel acquisitions.
- New and Used Commercial Hire Purchase Boat Loans.
- Suits many operators – cash and accruals accounting methods.
Boat finance guides and resources
Our guides offer quick comparisons and simple explainers to help you sail through the financing process with confidence.
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Competitive Rates, Versatile Features & Format - Hire Purchase Marine Finance
Hire Purchase Marine Financing provides operators with a versatile format and attractive interest rates. Suitable for businesses that use both the accruals and the cash accounting methods, CHP is available for many operators from self-employed through to large corporations.
Tax deductions are realised through depreciation of the vessel as a business asset. Depreciation schedules are set by the ATO. The interest portion of the monthly repayments is also deductible. The GST portion of the vessel purchase is claimed in full on the next BAS return after purchase. With the full amount of GST accounted for, no GST is added to monthly payments with Commercial Hire Purchase Boat Loans.
A balloon component is an option. This is percentage of the loan amount request which is set aside and due to be finalised at the end of the finance term. When that time comes, if the operator chooses to keep the boat at the end of the loan term, they can speak with us about affordable boat loan refinancing to finalise the balloon.
Commercial Hire Purchase Marine Finance interest rates are extremely attractive and typically the same as Chattel Mortgage – the lowest available in asset acquisition financing. We secure Hire Purchase interest rates for boats at a fixed rate. Terms are also fixed and negotiated individually by our brokers with our lenders to secure the most workable solution and target ROI.
A fixed monthly repayment schedule is secured by our experts to best work with individual business cash flow requirements. For a CHP marine finance quote on your boat purchase, contact us or work up pre-purchase estimates on our CHP Boat Loan Calculator.
- Competitive CHP Boat Loan Interest Rates.
- Fixed rates, fixed terms, fixed repayments.
- Balloon option.
- Tax deductions through asset depreciation.
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Realise the Benefits of Securing CHP Marine Loans with Jade Finance
Securing the most suitable, affordable finance for new vessels can be challenging for many marine operators. Especially when work days are spent offshore with minimal opportunities to connect with lenders. We assist all operators to secure CHP boat finance with our comprehensive commercial finance services with a personal, individual focus.
Each customer is assigned one of our brokers that specialise in commercial marine financing to handle the entire loan process from that initial enquiry through to settlement of the CHP boat loan with the seller.
We save customers the time involved in covering off on the lending market to find the right lender, the best rates, and the most workable solution. Rates, approval criteria, and finance terms and conditions vary significantly across the commercial lending market. Our access to over 80 lenders, including specialist marine lenders, ensures our brokers connect customers with the right lender and secure the most competitive CHP boat finance interest rates.
Every CHP marine vessel finance solution is individually sourced to meet the objectives of our customers with negotiated rates and terms, and expert assistance with applications and paperwork. For new and small operators that do not meet the guidelines for Hire Purchase Marine Finance, we provide access to specialist lenders for workable Low Doc Boat Commercial Hire Purchase solutions.
Start realising how simple and streamlined the process of securing affordable Hire Purchase boat finance can be – contact Jade!
- Expert marine financing brokers.
- Best CHP interest rates – 80+ lenders.
- Individual attention, tailored Hire Purchase Boat Loans.
- Low Doc boat loans for new operators.
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![Man smiling while sitting with a laptop on a sailboat, getting a best low rate loan with Jade Finance.]()
Streamlined Commercial Hire Purchase Boat Loan Applications, Fast Approvals
To apply for CHP boat finance with Jade Finance, simply speak with one of brokers, provide the required business documentation and we’ll handle the process for you. Operators will need to hold an ABN and have ID to be eligible for commercial credit. The documents required for the commercial finance application form include tax returns, annual accounts, BAS returns, bank statements and similar financials. Your Jade broker will advise the specifics required for your application. Lenders will check credit histories.
Small and new operators may be required to also provide personal financials and additional collateral, or personal guarantees may be requested. The vessel is considered by lenders for acceptance as suitable collateral and for no deposit CHP boat loans.
Your Jade broker will be handling all discussions and negotiations with lenders and processing your application. Many operators will receive their Hire Purchase Boat Loan approval within 24 hours. On approval, we work with our lender and your seller to assist with prompt settlement.
- Applications can be lodged online or over the phone.
- Smooth CHP Boat Loan application process.
- Fast 24 hour approvals.
- Expert brokers to handle Hire Purchase Marine Finance applications.
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THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, NEW GOODS, EFFECTIVE 15/11/2024 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
We work harder to secure the best rates.
Boat Commercial Hire Purchase FAQs
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All types of boats used in a commercial marine business may be suited to purchasing with Hire Purchase financing.
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A wide range of business set-ups may suit CHP finance. These include sole traders, SMEs, partnerships, companies and corporations. CHP suits businesses that use both the cash and the accruals methods of accounting.
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Hire Purchase is a form of commercial financing where the business owns the vessel when all payments are finalised.
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Jet skis and PWCs used in a commercial business may be financed with CHP. Subject to lender approval.
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No deposit financing is subject to lender approval of the application. Lenders assess the financials of the business and the age and condition of the vessel when approving loan limits.
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A balloon is a percentage of the total loan amount which is due for payment in one full lump sum after the final monthly repayment is made. Balloons may be refinanced.
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No. Only the interest portion of CHP repayments is deductible. CHP provides businesses with a tax deduction when the boat is depreciated in the annual accounts.
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Asset depreciation schedules are set by the ATO. Assets are depreciated as a percentage of the value over a time period. Operators should consult with an accountant for the exact amount for their specific purchase.
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To apply for CHP boat finance operators will need an ABN, ID and provide financial documentation on their business operations.
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Lenders assess vessels as suitable security for finance and the strength of the applicant’s finances. Many applications can be approved with the vessel as the sole source of collateral for the loan. If additional collateral is required, it is subject to individual lender guidelines and decisions.