Boat Loan
Boat Loan
Loans Today know how to give you the BEST chance of getting approved. Great rates and expert knowledge.
Boat loans which are secured by the boat itself are known as a ‘Secured Loan’. The interest rate will often vary depending on the age of the boat, as new boats are regarded as being better security.
Some lenders have restrictions on the age and/or value of boats that can be financed with a boat loan and they are often available only for newer used or new boats.
Those who don’t qualify for a boat loan may be able to use an unsecured personal loan, though this carries a higher interest rate. Loans today can help you organise a secured or unsecured personal loan.
Interest rate
Boat Loans are assessed individually and given a credit score that determines the rate.
Repayment
Loan repayments are usually split across the life (term) of the loan. You can choose a loan term between 3 and 7 years.
Securities
Boat Loans are secured by the boat that you are purchasing.
Other Conditions
Borrower has to be an Australian Citizen with a regular income. ASIC (NCCP) requirements will be applied such as serviceability calculations and verification of income and assets.