FAQs

All types of vessels and watercraft, new and used, used for an in a business operator may be approved for leasing, subject to individual lender criteria.

Leasing is a commercial financing product available through a range of business finance lenders.

When all payments of a boat lease, including the residual, are paid, the lender transfers ownership to the business.

While the lender holds ownership title over the term of a boat lease, the borrower is responsible for all costs associated with operating and maintaining the vessel. This includes registration and insurance.

Where a boat is financed with leasing, the borrower registers the vessel under their business name.

A residual is a portion of the lease amount which is due to paid at the end of the term.

Boat lease payments are treated as an expense by the ATO and are a tax deduction.

Calculators provide figures based only on the data entered. They do not allow for different credit profiles and applications which may result in a different interest rate offer and lender fees and charges are not allowed for. Offers can differ from calculator-derived estimates.

Business financing, including lease, require financials and credentials including ABN, tax returns, annual accounts, bank statements, profit and loss statements, and similar.

New operators may not have all the financial documents required for approval for business loans. Where they do not, they can use a business finance broker to connect with lenders that offer No Doc Boat Leasing.