FAQs

To confirm the suitability of a certain used vessel for a secured loan, buyers can contact brokers or lenders to check eligibility criteria.

Commercial operators without financials may use a broker to source No Doc Used Boat Finance through specialist lenders.

Leasing is one of the commercial credit facilities available to hospitality operators to finance used vessels.

Buyers of boat and trailer combos may apply for a loan which includes the entire package. Approval subject to lender guidelines.

Applications for marine finance may be submitted and assessed prior to purchase.

The age and condition can affect the loan. The lender assesses whether or not the boat is acceptable collateral. The value and age can also impact the loan amount and term.

Interest rates are based on the assessment of the boat and application by lenders. The credit profile is integral to being offered the best rates.

Commercial fishing vessels may be financed with pre-owned business credit facilities including Chattel Mortgage, Lease, CHP and Rent-to-Own.

Second-hand jet skis may be financed with a Secured Jet Ski Loan or an Unsecured Personal Loan, depending on the machine being suitable loan security.

The collateral required for used boat loans is dependent on the lender accepting the vessel as a form of collateral. A lender assessment of the application is required to assess the vessel.