Boat & Marine Finance
Tinnie, runabout, bowrider, fishing boat, cabin cruiser or yacht: new, used, dealer or private sale. Tell us what you're looking at and we'll pass your enquiry to a licensed finance broker who works with a range of lenders. It takes about 60 seconds and there's no credit check to enquire.
- No credit check to enquire
- Free to enquire, with no obligation to go ahead
- A licensed broker calls you, usually within one business day
Check my eligibility
About 60 seconds. No credit check to enquire.
Who we help
- Trailer boat buyers: tinnies, runabouts, bowriders and centre consoles, including the trailer
- Bigger-boat buyers: cabin cruisers, flybridge cruisers and yachts kept on a mooring or in a marina
- Private sale buyers: buying from a seller on the ramp or online rather than a dealer
- Repower and upgrade buyers: a new outboard, electronics or marine equipment
- Charter and fishing operators: boats used in an ABN business, including commercial fishing
- Self-employed and ABN holders: including low-doc options where your circumstances fit
What lenders look at for a boat
- Age and condition: many lenders cap the age of the vessel at the end of the loan, so older boats can mean shorter terms or fewer lender options.
- Value and price: the lender wants the amount borrowed to be supported by what the boat is worth. A dealer invoice or recent valuation helps.
- Trailerable or moored: trailer boats are generally simpler to finance. Larger moored vessels can involve extra checks.
- Marine survey: for larger or older vessels, a lender may ask for an independent survey before it will use the boat as security.
- Registration: recreational boats are registered with your state or territory maritime authority. Licence rules for operating a boat also vary by state, so check with your local authority.
- Your finances: income, living expenses, existing debts and credit history, just like any other loan.
Loan types that fit
| Loan type | Usually suits | How it works |
|---|---|---|
| Secured boat loan | Personal use, newer or well-valued boats | The boat is the security for the loan, which can mean sharper pricing than unsecured lending. |
| Unsecured personal loan | Older boats, smaller amounts, or boats a lender won't take as security | Nothing is held as security, so pricing and limits depend more heavily on your credit profile. |
| Chattel mortgage | Charter, fishing and other business use | The business owns the boat from the start and the lender takes a mortgage over it. Interest and depreciation may be deductible for the business-use share; check with your accountant. |
Loan terms are often linked to the age of the vessel, and some lenders offer a balloon payment to lower repayments. A balloon means a lump sum is still owing at the end, which you pay out or refinance.
Costs to budget for beyond the loan
- Insurance: lenders usually require comprehensive marine insurance while the loan is in place.
- Mooring, marina or storage: often the biggest running cost for larger boats.
- Servicing and fuel: engine servicing, antifouling and general maintenance.
- Registration: boat rego, plus trailer rego for trailer boats.
If you're buying privately, do a PPSR search before you pay to make sure there's no money still owing on the boat, motor or trailer.
How it works
- Tell us about the boat and your situation in the short form below.
- A licensed broker calls you, usually within one business day, to talk through your options.
- If it suits you, they handle the application with a lender that fits your circumstances.
What you'll usually need
- Photo ID. A boat licence may be requested where one is required in your state.
- Proof of income: recent payslips or bank statements (BAS or tax returns if self-employed)
- Details of the boat: make, model, year, hull identification number (HIN), motor details and price
- Dealer invoice or private seller details, and a marine survey if the lender asks for one
- Your living expenses and any existing debts
Every lender has its own criteria, so your broker will tell you exactly what's needed for your situation.
Boat finance guides
- What is a chattel mortgage and how does it work?
- Personal loan or secured finance: pros and cons
- Balloon payments: what you need to know
- Documents checklist for loan approval
- Caravan finance
- Equipment finance for business
Common questions
Can I finance a used boat or a private sale?
Often, yes. Many lenders finance used boats from dealers and private sellers, although some limit the age of the vessel. A PPSR search before you pay is a sensible step on any private sale.
Will the lender need a marine survey?
For larger or older vessels, a lender may ask for an independent marine survey before using the boat as security. Smaller trailer boats usually don't need one. Your broker can tell you what a particular lender requires.
Do I need marine insurance?
Lenders usually require comprehensive marine insurance for as long as the boat is security for the loan. It's worth getting a quote before you commit so the cost is part of your budget.
Can I finance a boat for a charter or fishing business?
Yes, business-use boats are commonly financed through a chattel mortgage or similar business loan. The tax treatment depends on your circumstances, so check with your accountant.
Does enquiring affect my credit score?
No. Filling in our enquiry form isn't a credit application. A credit check only happens if you choose to go ahead with an application through the broker.