We offer a complete portfolio of financing facilities with every new boat loan individually sourced by our expert brokers to suit personal objectives. Don’t let the purchase cost of a new vessel deter you from proceeding. Speak with us about how we may make it achievable and affordable.
The price of new boats can make the purchase a significant buying decision. Even smaller craft such as PWCs, jet skis and tinnies with outboards, can have price tags which require financing for the purchase. Financing for new boats can provide a workable option, compared with using personal savings or business cash flow.
The market for new boat finance can be vast, for both personal recreational boats and for commercial credit for business vessels. The rates, terms, conditions and loan limits can vary across the lending market. As specialists in marine financing, we have access to 80+ lenders, providing us with the opportunity to source the lender that is a best match for each customer, and offer the best rates.
We offer a full range of marine credit products for private and business boat buyers. Our Secured Boat Loan suits most private buyers. Business financing options include Chattel Mortgage, Boat Leasing, Commercial Hire Purchase, and Rent-to-Own. Business operators can choose balloons, residuals, buybacks, and no deposit financing.
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All these options have a secured format, with most buyers not required to provide additional collateral. While the individual features and benefits of each product do vary, the basic format is similar – the vessel is the collateral for loan and the borrower repays the loan in equal monthly payments over a fixed loan term. Insurance is required.
New boat financing rates are competitive, with lenders having the boat as security. We arrange new boat financing with a fixed interest rate, over fixed negotiated terms, to provide a fixed repayment schedule for our customers.
For a quote on a new boat loan at our highly competitive rates, contact us.
With our expertise in the marine lending sector and our personal approach to sourcing new boat financing, we can provide extensive benefits and advantages to both personal and business customers. Our vast lender market allows us to match buyers with the right lender and our industry level connections allow our brokers to negotiate loans to meet individual needs and preferences.
Business operators benefit from having finance individually negotiated and structured to meet their cash flow, and optimised for available tax benefits. With tailored loan terms and our highly competitive loan rates for new boats, loans can be flexible, affordable, and make a new boat purchase extremely achievable.
Our guides offer quick comparisons and simple explainers to help you rise above the financing process with confidence.
For new, start-up and small operators that do not have all the necessary documentation for a business finance application, we provide No Doc and Low Doc options through our specialist lenders.
Each customer is assigned their own Jade Finance broker to ensure fast, personal service and a streamlined financing process. All aspects are handled to save customers time and save the impact on credit scores when multiple quotes are sourced to find the best option. We cover off on a large section of the marine lending market to source and structure new boat loans that target buyer’s objectives.
Prior to applying or enquiring about a new boat loan, buyers can use our New Boat Loan Calculator to obtain estimates and make decisions around preferred terms, deposits and finance structure. Or just speak with one our brokers to start the process and request a quote.
To be approved for new boat finance, individuals and businesses must meet the criteria for their specific loan type. Individuals applying for personal loans must meet the Consumer Credit criteria as stipulated by ASIC. This includes being over 18 years of age and providing verifiable information on employment, income, residency, debts and expenses.
Business buyers must have an ABN and provide financials and other credentials relating to the business operation. The vessel must meet ATO guidelines for consideration as a business asset. That is, it must be for use in the business.
To be approved for a secured new boat loan, the vessel must be accepted as security for a secured loan. Details of the boat will be required for the application. Applications can be approved prior to final boat selection and purchase. An indication of the type, make and model of the boat being considered, and the loan amount required, will be required to obtain a specific pre-purchase quote or loan offer.
Credit profiles and histories are checked for all applications with the best rates and loan conditions approved for good credit score applicants. Lenders will be looking at the loan to value ratio and credit score for personal loan applicants when considering maximum loan limits.
While there are many considerations for new boat buyers, we make the new boat loan application process fast, streamlined and hassle-saving. Simply provide us with the necessary information and documentation and your Jade broker will handle finding the right lender, sourcing the best quote, and on acceptance of any offer, processing the application and assisting with settlement.
With approvals possible in 24 hours, submit your application to find out the best new boat loan rates and financing we may source for your purchase.
We provide financing for new boats of all types, sizes, from leading manufacturers, importers, on all makes and models. New boat loans are available for jet skis, PWCs, trailer boats, cruisers, yachts, speedboats, wake boats, and even houseboats and luxury motor cruisers. If purchasing a boat and trailer package, the entire price may be included in the loan.
Business financing for new boats is available for vessels used in the commercial fishing industry, in research and exploration, search and rescue, working vessels for marine construction operations, marine engineers and repair services, yacht clubs and many other sectors.
Where a custom vessel is being purchased, financing at our competitive new boat loan rates may be arranged when the order is placed, to provide confidence for the buyer to proceed. Financing can be structured to meet progress payments where required. It’s all part of our personalised new boat loan service.
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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 20/12/2024 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.
A balloon is an option with CHP and Chattel Mortgage finance facilities.
Lease and Rent-to-Own have tax deductible repayments and Chattel Mortgage and CHP provide deductions through depreciation of the vessel.
No. A boating licence is not a pre-requisite for eligibility to apply for marine financing.
Yes. Conditional approval of marine finance can be obtained prior to purchase.
Business operators acquiring vessels to use in their business may select from Lease, Chattel Mortgage, Commercial Hire Purchase and Rent-to-Own financing.
Interest rates on new boat loans are subject to individual application specifics, especially the credit score of the applicant. The individual’s profile rather than the type of boat, impacts the rate offer.
Lenders typically accept new vessels as security for financing. For many applications, no additional collateral is required, subject to individual applications and lender criteria.
Yes. Business operators may select Leasing to finance new vessel acquisitions.
Purchases of new recreational and leisure boats may best suit a personal Secured Boat Loan. Business vessel acquisitions may be financed with the operator’s choice of Leasing, Chattel Mortgage, Commercial Hire Purchase or Rent-to-Own.
The same credit products can be used for both power and sail boats. Individual offers will vary depending on lender guidelines and specifics of the applications.
