Secured Boat Loan
A Secured Boat Loan is a popular financing option for purchasing a new or used boat for recreational use. This straightforward loan agreement involves regular repayments over a set term, with the loan secured against the boat itself. Importantly, ownership of the boat remains in your name.
With secured boat finance, you will benefit from lower interest rates compared to an unsecured boat loan. The interest rate is fixed for the duration of the loan, resulting in regular repayments that can simplify budgeting. Additionally, secured boat finance offers flexibility, allowing you to pay off the loan and/or sell the boat at any time during the loan term.
Advantages of a Secured Boat Loan
- Competitive interest rates using the boat as collateral.
- Higher borrowing amounts.
- No deposit required.
- Extra funds can be included in the loan amount to cover costs such as insurance, registration, and accessories.
- Competitive fixed interest rates.
- Regular fixed repayment schedule - weekly, fortnightly or monthly.
- Terms from 1 to 7 years.
- Ability to pay out the loan early.
- Purchase new or used boats.
- Buy privately or from a dealer.
Boat Loan Calculator
Use our boat payment calculator to estimate your monthly repayments. You will need to estimate your boat loan amount, loan term in years and lastly your interest rate. Your interest rate is determined by a number of factors. Your credit history and individual profile, including residential and employment status, as well as the year, make and model of the boat. With access to over 40 lenders, AAA Finance will get you the lowest interest rate possible!
Apply for a Secured Boat Loan
Contact our AAA Marine Finance Experts on (07) 5493 1222 to discuss your loan requirements and apply in 5 minutes. Or fill in our online form and one of our experience team will be in contact shortly. We offer a quick approval process and can even organise pre-approved boat finance.
To apply for a secured boat loan you will need to provide proof of your identity and income as well as the details of the boat you intend to purchase. By working with a AAA boat finance broker and comparing offers from multiple lenders, we can find you a boat loan that fits your financial situation to get you out on the water sooner.
Useful link | Maritime Safety Queensland
Maritime Safety Queensland website provides essential information and resources for safe boating, including navigation rules, safety guidelines, and licensing requirements, ensuring a secure and enjoyable experience on Queensland waterways.
