FAQs

Yes. The boat loan calculator can be used to calculate estimated repayments on all types of boats and watercraft including PWCs. Loans are available for the leading brands – Kawasaki, Yamaha and Sea Doo – across all models, within our loan thresholds. You simply enter the amount you want for your loan, the loan term and our current interest rate and see what repayment is calculated. Some lenders have a minimum loan threshold for boat loans.

No. Use of a loan calculator is free of any charges and of any obligation. The calculator is a generic calculation device which you can use over and over again to calculate repayments on any number of boats at any time. Use of the calculator is not a form of loan application and not intended to infer or imply that any application has been made, considered or accepted. But if you like what you see with the repayments calculated, you can proceed to request a firm quote and/or apply for a marine loan either online or over the phone. There is also no obligation to proceed when you request a quote or make a loan application. The loan application process involves a number of stages where you can decide not to proceed further.

No. The calculator is not a loan application form or any form of official loan documentation. It is merely a general device, designed to provide our customers with a tool to assist with their boat buying decisions. It is structured to show repayments which are formulated only on the basis of the data that you enter. No consideration is made for your individual loan application details or the details of the boat you are buying. In using the boat loan calculator you are not applying for a boat loan and using the calculator does not in any way indicate that an application has been received, an offer made or a loan approved. In order to receive a loan approval, you will need to complete a loan application via a phone call or an online form. After an offer is sourced from a lender and having your application approved, you would then be advises that your loan is approved.

In general yes but specifically, not always. The calculator is best used to calculate repayments on new boats and high quality used as these types of boats can attract better interest rates than second hand boats. Lenders will take into account age and condition of a used boat and may apply a higher interest rate. But the calculator can be used for types of leisure boats. By that we mean speedboats, cruisers, fishing boats, cabin cruisers, jet skis, yachts, luxury cruisers, multihulls, trailer boats, tinnies, cuddy cabins, wake boats, ski boats and many others. The calculator applies to all major boat builders and manufacturers both local Australian businesses and for imported boats. For high priced boats, a longer loan term may be requested. Loan terms are subject to negotiating with lenders.

The repayment result that the calculator displays is a simple formulation which is based on the data that you have entered. When you change the amounts you enter, the repayment varies. If the repayment displayed is more than you had in mind to pay per month or doesn’t meet your household budget, you can change some of the values entered to get a different result. If you reduce the loan amount and keep the loan term the same, the repayments will decrease. This may involve you finding a lesser priced boat or paying a deposit to reduce the amount you are borrowing. Another way is to keep the loan amount the same and increase the loan term. That will also decrease the repayments. Always keeping in mind this is an estimate and lender fees and charges have not been included. Loan terms are subject to lender requirements.

The calculator has a field where you are required to enter an interest rate. The interest rate offered will vary depending on the lender that sourced for the quote, details around the boat you’re buying and specifics of your individual loan application. All that information won’t be known until you actually complete a loan application form. So for the purposes of calculating an estimate and general repayment which this calculator is designed to deliver, use more than the current advertised interest rate as displayed or use the Comparison Interest Rate as that is calculated based on a specific example of a loan but remember the rate may differ significantly from the boat you are buying.