Simpler Application Process
The process to apply for a low doc boat loan is far simpler and less time consuming than a standard boat loan. This is due to fewer documents and paperwork being required.
Low Documentation Boat Finance
At Jade Finance we offer low doc boat loans to help get you on the water as soon as possible. Especially suitable for self-employed individuals or new business owners who don’t meet the standard loan documentation requirements, our expert brokers are fully equipped to assist you in securing hassle-free boat financing loans.
Why Jade Finance?
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The easy application process provides you with comprehensive information. Make a fully informed decision on your boat loan.
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Boat Loan Specialist
With over 25 years of experience in finance, we have a reputation for negotiating great rates with same-day approvals.
Boat Financing Without the Paperwork
At Jade Finance, we want to provide you with infallible convenience and confidence in the loan product you are receiving. And what’s more convenient than enabling you to skip the onerous paperwork typically required for securing a boat loan. With flexible documentation and income verification requirements, low documentation boat finance is your ticket to a more streamlined financing journey.
A low doc boat loan refers to a loan that requires less financial documentation. The reduction in paperwork is in comparison to a full doc boat loan which requires comprehensive documentation. When looking to finance a boat, consumers and individuals may choose a low doc boat loan if they are unable to provide a lender with the documentation required for a standard boat loan. At Jade, we find this is most commonly the case for those who are self-employed or running a small business.
Advantages of Low Documentation Boat Finance with Jade Finance
Time is a highly sought after concept. We all want more time. More time to relax, more time to get things done, more time to spend with friends and family. At Jade Finance, we offer low doc boat loans to provide you with more time to do the things you love, or the things you need to do.
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Faster Application & Approval
By coming directly to us for your low documentation boat finance, you’ll not only experience shorter time-frames, and less documentation, but also the added benefit of your own dedicated broker who will sift through our extensive list of lenders to get you the best deal available and access funds faster.
Personalised Loan Comparison
At Jade, we compare a variety of easy boat loans against your personal circumstances to find the best deal for you.
Expert Broker Assistance
After examining the variety of interest rates and repayment terms available, and submitting your application to the best lender possible, our experienced brokers will aim to settle your low doc boat loan on the same day it is submitted. Depending on the lender, this timeframe can sometimes be slightly extended.
Quick Settlement Time
For traditional boat loans, our brokers also aim for approval on an accelerated time frame, with full doc boat loans generally settled within a few days to a week depending on the lender.
Achieve Your Boating Dreams with Affordable Low Doc Financing
Our expert brokers are experienced and knowledgeable in acquiring low doc boat loans for individuals with limited financial documentation to prove their income, assets, and liabilities. With a much simpler and faster application process, and minimal paperwork, many of our 80+ lenders are willing to accept alternative documentation to help evidence a borrower’s true income position.
At Jade Finance, we bring your boating dream to life with better finance at cheaper interest rates. Utilise our strong negotiating skills and bargaining power with your own dedicated professional broker committed to finding you the best deal on offer. With nationwide coverage for marine purchases, our in-depth knowledge is highly-regarded by our massive client base.
For specialist, individual attention for your boat financing without paperwork, contact us.
Boat finance guides and resources
Our guides offer quick comparisons and simple explainers to help you rise above the financing process with confidence.
Personal Finance
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![A row of modern boats parked on their trailers under over at a boat storage facility.]()
Easy Boat Loans: Your Eligibility and How to Qualify
If you’ve been in business for less than two years, your income is seasonal or from combined sources, or if you have recently switched industries or employment type – a low doc boat loan could be for you.
At Jade, the minimum criteria we will require for boat financing without paperwork is a current ABN and proof of identification. In addition, a borrower must also be able to provide some financial documentation like financial accounts or BAS returns. To strengthen an application, we recommend providing some income tax returns, however this is not compulsory.
For majority of our 80+ lenders, the basic criteria required to secure a low doc boat loan are:
- Business and personal bank statements
- Letter from accountant
- ABN
- GST registration
- Business Activity Statements
- Tax returns
In addition to securing low doc boat loans that are well suited to our clients, a key strength of our business model is transparency. Our brokers work hard to ensure our clients are fully informed of the advantages and limitations of the loan products they are applying for. Across the majority of lenders, low documentation boat finance is considered to be higher risk than traditional boat loans due to the reduced amount of documentation required. Due to this, a low doc boat loan may be subject to higher deposits and interest rates, and involve additional fees.
Contact us to get started.
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Comparing Low Doc Boat Loans and Traditional Boat Loans
When assessing low doc loan applications, lenders want proof that a borrower will be able to comfortably repay the loan being applied for. The amount of financial information that will be required for the application is dependent on whether a borrower wants a low doc or full doc boat loan.
At Jade Finance, our clients receive in depth consultation from our experienced and qualified loan brokers regarding the best type of loan for them. When comparing minimal documentation boat loans and traditional boat financing, a number of differences are apparent. Browse the below comparisons of low doc and full doc boat loans with regard to paperwork, approval times, flexibility, interest rates and fees, loan size and term, and risk assessment.
| Low Doc Boat Loan | Full Doc Boat Loan | |
|---|---|---|
| Paperwork | Business and personal bank statements, a letter from your accountant, ABN, GST registration, Business Activity Statements, and tax returns if they are available. | Proof of income, asset verification, credit history, employment verification, and identification. |
| Approval Times | At Jade Finance, we can settle low doc loans on the same day, depending on the lender. | At Jade Finance, we can settle full-doc loans within a few days to a week, depending on the lender. |
| Flexibility | Provide flexibility in proving income and allow borrowers to access funds quicker. More restrictions on loan size and term. | Provides more flexibility and loan options/features, enabling borrowers to shop around for better rates and deals. |
| Interest Rates and Fees | Easy Boat Loans generally have a higher interest rate than full-doc loans because more risk is involved. They are also often unregulated and may culminate in higher fees in addition to more interest. | Full doc loans are favoured by lenders because they are less risky than low-doc loans, meaning borrowers will often be able to secure lower interest rates and fees. |
| Loan Size and Term | For low documentation boat finance, a borrower can expect to receive a smaller loan amount and shorter loan terms. This is based on the risk to the lender due to minimal documentation. | For a full-doc loan, a borrower will be offered much greater flexibility in the loan size and term because of the comprehensive documentation provided by the borrower. |
| Risk Assessment | Due to the requirement of less documentation, low doc loans carry more risk compared to full doc. | The borrower’s income and ability to repay, full doc loans are considered lower-risk than low doc. |
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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 27/12/2024 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.
Low Doc Boat Finance FAQs
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Boat financing without paperwork is a higher risk for lenders. Therefore, more restrictions are placed on this loan-type, and less lenders will offer the product. Lenders that do offer this loan solution will generally have significantly increased interest rates and fees. Obtaining a low doc boat loan is straightforward if you have a good borrowing and repayment history, and provide all the necessary documentation/proof of income.
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A key advantage of a low doc boat loan is the streamlined application process. Due to less paperwork and documentation being required, individuals can save time and effort, and access funding more quickly. Easy Boat Loans are a viable option for borrowers who don’t fit the traditional borrower profile, like self-employed individuals and new business owners.
Another advantage of a low doc boat loan is they are typically easier to qualify for than a traditional boat loan.
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A low doc boat loan is a form of boat financing that requires less documentation than a standard application for a boat loan. It is beneficial for individuals who have less documentation to prove their financial position like self-employed individuals and new business owners.
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For majority of our 80+ lenders, the basic documentation required to secure a low doc boat loan are:
- Business and personal bank statements.
- Letter from accountant.
- ABN.
- GST registration.
- Business Activity Statements.
- Tax returns.
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At Jade Finance, we can settle minimal documentation boat loans on the same day and full-doc loans within a few days to a week, depending on the lender.
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To qualify for a boat loan, the basic criteria you must satisfy are:
- You must be a permanent resident or citizen.
- You must be 18+.
- You must earn a regular income.
- The stronger your credit profile, the better the rate and approval you will receive.
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At Jade, the rates on marine finance can vary significantly from lender to lender, enabling our brokers to shop around to find you the best rate available for your boat purchase.
As a rule of thumb, minimal documentation boat loans generally have a higher interest rate than full-doc loans because more risk is involved. This risk is calculated based on the reduced amount of documentation required in the application process. Low doc loans are also often unregulated and may culminate in higher fees in addition to more interest.
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The amount you will be able to borrow for low documentation boat finance is dependent on your personal borrowing profile. If you have a history of reliable and consistent repayments, you will be considered less risky as a borrower and may be able to borrow more money.
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Early repayment of a low doc loan is dependent on your lender. With Jade Finance, borrowers are permitted to make additional payment throughout the loan term for secured boat finance. These can be intermittent payments, or regular extra payments.
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A default is an unpaid or overdue payment on bills which is 60 days or more overdue. Late payments are payments made between 14 and 60 days after the due date. With Jade Finance, when you default on your low doc boat loan:
- If you miss one payment, the lender will likely notify you with actions to take so you can make the payment.
- Late Payments attract fees so your bank account will likely be deducted this fee.
- If you miss more than one payment, meaning your loan is 60 days in arrears, it is classified as in default and a process will be commenced by the lender. The process will vary from lender to lender but the end result is that your boat may be repossessed by the lender.
- With a Secured Boat Loan, the lender accepts your boat as security against the loan.
- When the repayments schedule is not met, i.e. you fail to make the repayments for 60 days, the lender is entitled to repossess the boat and sell it to recover monies owed to them.
- If you pay the arrears before the repossession action, you will be charged default fees.
- The bad debt/repossession process is covered by protocols which will involve a number of actions by the lender.
- The loan default will be reported to the credit agencies by the lender and this is a negative note on your Credit Report. This can affect your future applications for credit and loans.