FAQs

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.