Looking for Brisbane’s best boat financing? Continue reading to learn how you can secure a boat loan in Brisbane and how a broker like Credit One can assist with your application.
Securing boat finance means you can get access to funds to be used for the purchase of your boat (or other watercraft). That means you can get out on the water sooner.
Boat loans are available for both new and used boats. Although there can be some restrictions for finance on new boats which we discuss in more detail below.
A boat finance application starts with an assessment of your financial circumstances. When you apply through a marine finance broker like Credit One, they will take the time to understand your requirements before matching you with the best loan options in Brisbane.
What Credit One Boat Finance Can Help You With
Providing You with More Boat Finance Options
Working with Credit One for boat finance means more options than ever before. Credit One isn’t restricted to one single lender, meaning the Brisbane boat finance team is able to provide you with more solutions, rates, and lenders, giving you greater flexibility. Whether you’re looking to purchase a new or used boat, Credit One has got you covered.
A good marine finance broker like Credit One can help you whether you’re looking for a secured or unsecured loan. You will also have the flexibility of buying your boat through a marine dealership or through a private seller.
Help Securing Low Rates & Repayments
The Credit One team has access to an extensive panel of the top lenders in Australia. How does it work? Simple – the finance brokers will compare the top lenders to find the best interest rate available for you. Working with Credit One finance means that you can ensure your loan repayments are kept to a minimum.
Get A Pre-Approval on Your Boat Loan
If you’re about to begin your search for a boat, it might be a good time to apply for a pre-approved boat loan. With a pre-approval, the lender will provide conditional approval for you to borrow a specified amount. That means you can go to any boat dealer throughout Brisbane or the rest of Australia and shop with confidence, knowing what you can afford.
What are the different types of loans available?
Secured Boat Loan
With a secured boat loan, the boat itself becomes the security for the lender. The financing provided will be equal to, less than, or greater than the value of your boat.
Private Sale Boat Loan
Looking to buy a boat from a private seller? Credit One can help. Whether you’ve found a great deal on a boat in your neighbourhood, or your bank does not want to help you out with a private sale, Credit One’s marine finance solutions extend to private boat loans.
Personal Boat Loan
A personal boat loan or unsecured boat loan means that the lender does not use the new boat as security. Often offered with fixed rates and flexible repayment options, a personal boat loan may just be the perfect solution to secure your new vessel.
Commercial Hire Purchase
With a Commercial Hire Purchase (CHP), the lender will purchase your new boat on your behalf, wherein they will then hire it back to you over a set term until the loan has been paid off. This loan type is generally used by commercial borrowers.
With a Chattel mortgage, the lender will advance the funds for the commercial boat purchase, but you take ownership of the vessel the moment it’s purchased.
How much can I borrow?
Personal boat loans usually start at $5,000 and can exceed over $100,000. As every customer has a unique set of financial circumstances, the amount of money that can be borrowed through a Brisbane boat loan will vary from client to client.
Credit One will work to find the best option for each client and their financial situation. Regardless of whether you’re looking to purchase a brand-new boat or a used one from a private sale, they will make the process of securing finance as easy as possible.
Can I finance a second-hand boat?
Absolutely. However, if you apply for a secured boat loan for a used boat, many banks and other lenders will be unwilling to lend the money. This is an advantage of applying through Credit One, who have access to a large panel of lenders including those that will approve loans for second-hand boats.
How do I apply for boat financing in Brisbane?
Applying for boat financing for your Brisbane based vessel is easy with Credit One. You can reach the team online or by calling 1300 273 348, six days a week. Alternatively, simply visit the Credit One website and submit an online enquiry. After submitting the form, a broker will contact you and can provide you with a free quote.