There is no denying that owning a boat is an amazing lifestyle option — whether weekend adventures or serious marine exploration — but smart finance will ensure you can make it affordable. LoanCalculator.com.au makes that easy.
We’re Australia’s premier boat and marine craft loan comparison marketplace, which assists thousands of Australians a month in identifying transparent, affordable loans via more than 40 trusted banks, credit unions, and non-bank lenders. With more than two decades of asset-finance know-how at our disposal, we can help Australians make their way through the often-confusing world of marine finance — so you can focus on getting out on the water.
Find the best deal on a boat loans in 5 simple steps:
Input the boat or jet ski’s purchase price, any deposit you plan to pay, and your preferred loan term (typically 3–7 years). The calculator instantly adjusts to show how each variable affects your repayment.
If you already have a rate in mind, enter it. Otherwise, you can experiment with typical Australian marine loan ranges — generally 6–11% p.a. for secured loans and 8–14% p.a. for unsecured personal loans.
Select weekly, fortnightly, or monthly repayments. Many Australians prefer fortnightly payments to reduce total interest paid over time.
You’ll instantly see estimated repayments, total interest costs, and overall loan cost. Use these numbers to plan your budget and avoid surprises later.
Once you know your comfort zone, compare real offers from our panel of lenders and apply online. Most applicants receive feedback within a single business day.
Marine Loans Secured vs Unsecured Marine Loans
A secured boat loan uses your vessel as a security, usually at lower interest rates; therefore, does not only rely on the borrower’s ability to keep it. But if you do default, the lender has the ability to repossess the boat. Unsecured loans do not use the vessel as security and are better suited to use with older vessels, private sales, or mixed-buying plans (e.g., boat + trailer + safety equipment), but rates are a little higher.
New vs Used Boats
New boats are often cheaper to finance relative to older boats (i.e., will attract less interest.) Depending on age, value and condition, old or used boats tend to offer higher rates. Lenders only take loans on boats aged up to 10 years; older craft can only qualify for unsecured loans.
Jet Skis and Personal Watercraft (PWCs)
Jet skis have similar financing options to smaller marine vessels. The standard loan is $5,000 to $30,000. Some lenders package trailer and accessories into the overall financed amount.
Fixed vs Variable Rates
Most marine loans are fixed interest loans, providing predictable repayments and ease of budgeting. Variable-rate loans are less common but can also give flexibility in the form of early payout or redraw options.
Putting down even 10–20% upfront can significantly lower your repayments and total interest, while signalling strong financial discipline to lenders.
Shorter terms reduce overall interest but increase payment size. Use our calculator to find your ideal balance; many Australians opt for 4–6 years.
Interest rates vary widely. Even a 1% difference can save you thousands over the loan term. Our comparison platform displays transparent rates and fees side-by-side.
If your lender allows it, small extra repayments can dramatically reduce your loan cost and shorten the term. Always check for early-payout penalties.
There are several financial and asset-specific factors that can affect what interest rate you will get with a lender or bank.
Credit score: Higher scores unlock better rates. Paying bills on time and reducing credit card limits before applying helps.
Boat age and condition: Newer boats hold value better, giving lenders more confidence and lower rates.
Employment stability: Regular, verifiable income improves approval odds.
Loan-to-value ratio (LVR): Borrowing less than 90% of the boat’s value can yield a more favourable rate.
| Boat Type | Typical Loan Amount | Loan Term | Notes |
|---|---|---|---|
| Small runabouts / tinnies | $5,000 – $25,000 | 3–5 years | Great for beginners; easily financed |
| Jet Skis / PWCs | $5,000 – $30,000 | 3–5 years | Finance often includes trailer and safety gear |
| Cabin cruisers | $30,000 – $150,000 | 5–7 years | Usually require secured loans |
| Fishing boats | $10,000 – $80,000 | 4–6 years | Popular with families and recreational anglers |
| Luxury yachts | $150,000+ | Up to 10 years | Specialist marine finance may apply |
Boat ownership is much more than making monthly repayments. Consider these ongoing costs:
Registration & insurance: Typically costs between $800 – $2,500 per year, based on size and coverage of vessel.
Fuel & maintenance: Expect $50–$200 per outing for average recreational use.
Storage & mooring: Marina berths or dry storage can add $1,000–$5,000 annually.
Safety equipment & accessories: Lifejackets, electronics, and covers add to your initial setup cost.
Depreciation: New boats depreciate by 10 to 20 percent in the first year — remember this when you set your loan term.
A realistic budget ensures you can enjoy boating for pleasure without it becoming more stressful. We help you test your if you’re ready through our calculator.
Find clear answers to the most frequently asked questions about boat loans
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