With one of the largest lending panels in Australia, it is easy to offer you the best boat loans.
Online leisure loan application; easily upload and sign documents directly from your phone or computer.
Our massive lending panel allows us to find you the best boat loan rates.
We care about you, so we make sure we don't impact your credit score.
With our fintech platform, we match you with a lender and pre-approve your boat loan in minutes.
Our team of more than 150 boat finance brokers work with you until your boat loan finance is settled.
Your leisure loans questions answered
Yes, with Ausloans, you can easily get approved for a second-hand boat. Used boat financing can be an excellent option if you are looking to drive away into the ocean without having to pay a premium price. Our 40+ lender panel allow us to have plenty of options to finance boats of all ages.
Don't worry, at Ausloans we offer no deposit boat finance, which means 100% of the purchase price is included in the boat loan package. So, if you don't have the funds upfront to buy the boat of your dreams, you still have the chance of getting your boat finance approved depending on your specific circumstances.
Can I get approved for a boat loan if I have poor credit?
Yes, you can get approved for a poor credit boat loan. At Ausloans we believe in assessing your circumstances and finding a solution that best suits you, so if you have bad credit we might be able to help you. To assist bad credit boat finance applicants we created 1800Approved, an established finance brand specialising in credit rehabilitation for mid and subprime lending for both consumer and commercial applicants that specialised in second chance boat financing.
Yes, most of the time we require comprehensive insurance on your marine boat finance. Consider that, if you're applying for an unsecured boat loan, comprehensive insurance is mandatory. Our team of asset finance brokers can help you arrange comprehensive insurance if you wish.
Knowing your boat financing payment options can help you manage your finances better
Fixed Interest Rate – With this type of loan, your monthly payment is fixed for the entire term of the loan. This is perfect for those who are budget conscious and wants to know exactly what they need to pay month after month.
Balloon Payment – This means you pay a lump sum at the end of the loan term and you also have the option to refinance the lump sum in case you do not have ready money for it. One of the main advantages of having a balloon payment is that your monthly repayments are low.
Early Loan Termination – If you have extra money, you may want to pay off your loan early to save on interest payment and to free yourself from the burden of paying month after month. Lenders may charge an early termination fee though so make sure to ask about this option if early loan termination is a possibility for you.
Additional Payments – This is one of the best features many of our lender partners provide. When you pay more every month you can actually save on your interest payments and pay off the leisure loan early.
Buying new or used boat have their own advantages and disadvantages
Money is not the only factor when deciding whether to buy a new or used boat. First-time buyers may find it better to buy a used boat in order to decide whether a boat is really fit for their lifestyle.
Secured Boat Loan – In a secured leisure loan, the boat serves as a security for the loan and the lender can repossess and sell it in case you default on the loan. Interest rates are usually lower if the boat loan is secured.
Unsecured Boat Loan – This is the opposite of a secured loan. The boat is not tied to the loan and therefore cannot be taken if you fail to make repayments. If the boat loan is unsecured, interest rates are higher and you must have comprehensive insurance.
Representative example: Based on a $30,000 loan with an 84-month term for a borrower with excellent credit history at a comparison rate of 4.99% p.a. the estimated total amount payable per month is $444. Interest rates range from 4.99% p.a. (comparison rate 6.97% p.a.) to 12.37% p.a. (comparison rate 20.30% p.a.). Rates are subject to change depending on the rates offered by lenders in our Lending Markets. Ausloans Finance Group credit criteria and terms and conditions apply.
Ausloans Finance Head Office: 1/33 Ereton Drive Arundel QLD