Unsecured Boat Loan
A Unsecured Boat Loan is a personal loan facility that can give you greater flexibility when purchasing older boats or buying privately. Some lenders have restrictions on the age of boats they will finance; in fact, most will not secure a loan for a boat over 12 years old. Consequently, a personal boat loan may be the only viable option for purchasing older boats and motor vessels.
Because there is no security against the loan it does result in a higher interest rate and you may also have a lower borrowing limit of up to $70,000.
Key Features of an Unsecured Boat Loan
- Terms of up to 7 years.
- Fixed interest rates.
- Regular repayment schedule - weekly, fortnightly or monthly.
- Ability to repay the loan early.
- Loan amounts up to $70,000.
- No collateral required.
- Flexibility to purchase older boats.
Apply for a Boat Loan
With extensive experience and expertise in the marine finance industry, AAA Finance is here to assist you. Simply call our AAA Marine Finance Brokers at (07) 5493 1222 or submit an online enquiry, and one of our friendly, knowledgeable finance specialists will promptly get in touch. At AAA Finance and Insurance, we take pride in offering quick and hassle-free finance solutions; in fact, we typically secure approvals within just 24 hours!
Or apply for a Pre-approved Boat Loan. Having a pre-approved boat loan allows you to shop with the knowledge that your loan is approved. It also allows to you know your budget and to have more negotiating power when finding the boat for you.
Boat Finance Repayment Calculator
You can easily estimate your monthly boat repayments using our boat finance repayment calculator, which helps you budget effectively for your new purchase. To get started, simply input your boat finance amount, loan term, and an approximate interest rate. Keep in mind that the interest rate is influenced by several factors, including your individual profile and credit rating. With its straightforward design, our calculator makes planning your boat purchase simple and stress-free.
Useful link | Marine Safety SA
Stay safe with Marine Safety SA with up to date information on licensing, safety equipment requirements and rules for navigating local waterways in South Australia.
