Boat Loans Brisbane

For the best choice of boat loans, Brisbane customers always return to Savvy. We source faster, cheaper marine finance
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Last updated on May 4th, 2022 at 02:56 pm by Bill Tsouvalas

Compare boat loans Brisbane

Save time finding cost-effective boat finance

Whether you’re going to hit the Gold Coast or you want something for getting out on the river, if you’re looking for boat loans Brisbane based and you want value for money, you came to the right place. Don’t consider financing your next purchase until you compare marine finance offers via Savvy. If you’d rather spend countless hours surfing the waves than surfing the web, explore your options quickly and easily online and save more of your time for doing what you love.

How Australians use boat loans to save money

You can save thousands on the overall cost of buying a boat when you choose the right marine loan option. Australians finance many different types of hobby and leisure craft each year, from boats to outboard motors, jet skis to caravans, and all sorts of craft and vehicles for getting out on the water or touring the countryside. It’s important to explore as many lenders and products as you can, and it’s ideal if you can find solutions specifically designed for your activity.
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Why more people choose Savvy?

How do boat loans work?

Secured boat loans  

Secured finance means you use your boat as collateral against your borrowing until the loan term ends. That means lenders take fewer risks and reward you with lower interest rates, making your boat a lot cheaper. 

Fixed interest rates and repayments 

Those lower interest rates get fixed for the boat loan duration, which means your repayments remain the same no matter how long you borrow for and what the base rate does. That makes for easier budgeting. 

User-friendly, flexible boat loan terms 

Borrow what you need and repay precisely how it suits. Secured boat loans via Savvy come with repayment options that can run anything between one and five years.   

Any boat you want 

Using a secured boat loan is just like paying for a boat with cash. You can borrow to buy either a new or used boat, and you don’t need to buy from a dealership if you’ve seen a boat elsewhere. Buy private or from a showroom. 

Qualify for a boat loan quickly 

Boat loan applications are easy and fast via Savvy. Upload all the required documentation through our website, fill out forms, even sign agreements digitally. Lenders pay funds directly to the seller. 

How to apply for your boat loan in Brisbane?

Check that you can qualify

To qualify for a boat loan in Brisbane, you’ll need to be eighteen or over, a citizen or resident, and able to afford repayments. Lenders assess that by checking your bank statements to see what you earn and spend each month. They’ll also look at your credit report.

Check your credit rating

It makes good financial sense to check your credit report now and then, and you can do that once a year for free. Credit providers sometimes make incorrect entries or forget to update items. That can weigh negatively against you and affect your borrowing limit when you make a finance application. If you spot any errors, you’re entitled to contact the provider and get them corrected.

Get your documents together

You’ll need to supply ID, which can be a driving licence or passport. Lenders also ask to see your recent bank statements – usually at least the last three months. You can upload documents via Savvy’s website.

Fill out a quick application

The lender will ask you to fill out a relatively simple application form. It’s essential to get that done as quickly as possible, but don’t rush through it. Mistakes will delay your application slightly.

Read and sign without delay

Once your boat finance gets approved, the loan provider will send an agreement for you to sign. Make sure to read that thoroughly and understand all the finance elements before you sign and return it. When the lender has reviewed your signed agreement, they’ll release funds to the boat dealer or private seller.

All your boat loans Brisbane questions answered

Do I need a deposit for a boat loan?

Secured boat loans allow you to either use a deposit or borrow 100% of the cost of your new craft. You can also choose to use a trade-in boat if you prefer, which will save you the hassle of selling your current one privately.

What interest rate will I pay?

Your interest rate will primarily depend on your borrowing history and the boat you want to buy. Older boats usually attract higher interest rates than brand-new ones.

Will the lender need details about my new boat?

Because you’ll be using the new boat as collateral, the lender will need a few details about it. They may also ask you to run a PPSR check too and then supply the certificate. PPSR checks prevent people from selling boats that still have outstanding secured finance registered against them.

Will the lender check my credit rating?

Every lender in Australia – no matter what type of finance – must check your credit rating before approving you. If you’ve had past credit problems, that doesn’t necessarily mean you won’t qualify for marine loans. It’s an excellent idea to talk with one of our consultants about your available bad credit leisure finance options if that sounds like you.

I’m a pensioner. Can I qualify for a boat loan?

Many of the customers that Savvy helps with leisure finance like boat loans are retired, so there’s no reason to miss out if you’re a pensioner. Talk to one of our expert marine finance consultants, and they’ll set you up with some specialist loan providers. Loan amounts however will usually be capped at $8,000.

Will I need insurance on my boat?

You’ll be using your new boat as security against your borrowing, so you’ll need to put a comprehensive insurance policy in place. That protects you from being left empty-handed and still owing the financier money.