Whether you’re dreaming of a new fishing boat, luxury cruiser, jet ski, or other marine craft, there’s nothing quite like the freedom of owning your own vessel. But navigating marine finance can feel like steering through uncharted waters.
That’s where we come in. We make boat and marine loans transparent, easy to compare, and tailored to your lifestyle and budget. Will you become one of the 1 in 10 Australians to enjoy what a boat or marine craft will offer?
Let’s break down the different types of marine finance options so you can make the right choice for your situation.
Use your vessel (boat, yacht, or jet ski) as security. This can mean lower rates and access to higher loan amounts.
No collateral required. While interest rates are usually higher, you gain flexibility and may be able to include additional expenses such as storage, accessories, or safety equipment.
Ideal for ABN holders purchasing a commercial boat or charter vessel. This structure can provide potential tax advantages while securing the asset against the loan.
Before you set your course, it’s important to factor in both the upfront and ongoing costs of ownership.
First, you'll have the purchase price of the boat itself, whether it's new or used. On top of that, you'll need to factor in stamp duty and registration fees, which can vary depending on your state.
Most loans require you to have insurance, and you'll also need to budget for essential safety equipment like life jackets and flares. If you don't have a way to transport your boat, you might need to purchase a trailer as well.
Once you own the boat or water craft, there are ongoing expenses to consider. These include mooring or marina fees if you need a place to keep it, as well as the cost of fuel and regular maintenance to keep it in good shape. You'll also have annual insurance premiums to pay. Depending on your situation, you might have storage and winterisation costs.
Finally, you'll likely want to budget for any upgrades or accessories, such as new electronics or fishing gear, to enhance your time on the water.
Here are the key things to look out for when shopping for marine financing:
Before you dive into buying a boat or jet ski, it’s important to think about what you’ll be using it for.
Different types of watercraft are designed for specific activities. If you’re a keen angler, a fishing boat with features like rod holders, live wells, and plenty of deck space will serve you best.
For those who prefer leisurely trips, cruisers and yachts offer comfort, cabins for overnight stays, and a longer range. If speed and fun are what you’re after, a jet ski or personal watercraft (PWC) is ideal, so you should prioritise agility, your land vehicle’s towing capacity for water sports, and reliability. For sailing enthusiasts, the focus should be on the rigging, keel type, and overall handling of the sailing craft.
You’ll also need to decide between a new or used model. New watercraft come with the peace of mind of a warranty and the latest technology, but they do depreciate in value more quickly. On the other hand, used boats and jet skis are more affordable upfront but may require a marine inspection and could have ongoing maintenance costs.
The size of the watercraft is another key consideration. Small craft under 5 metres are perfect for calm waters like lakes and rivers or for recreational riding. Medium-sized craft between 5 and 10 metres are great for coastal trips and offshore fishing. For those planning extended voyages, large vessels over 10 metres are built for long-distance travel and offer maximum comfort.
Finally, safety should always be your top priority. Make sure any vessel you consider meets Australian maritime safety standards. When purchasing a used watercraft, it’s wise to hire a professional marine surveyor to conduct a thorough inspection and check for any hidden defects.
While each lender has different requirements, here’s what most look for as a starting point:
These are typically :
Applying for a boat loan is straightforward, and you can apply right here to one of our Top 40 Australian marine finance lenders. Here’s how the process typically works:
Work out your potential repayments with our calculator to see what you can comfortably afford. You can also try out different amounts for smaller watercraft, like jet skis or dinghies.
Look at different lenders to find the best interest rate, loan term, and repayment options for you. It's also a good idea to check if the loan lets you make extra repayments or pay it off early without any fees.
Fill out a quick online application with your personal, employment, and financial information. Some lenders might give you conditional approval in just a few minutes.
After your loan is approved, the money will be sent to your bank account or directly to the dealer, getting you out on the water faster.
With your finance sorted, you can pick up your new boat, yacht, or watercraft and start enjoying life on the water
Pre-approval is a conditional green light from a lender that shows you how much you can likely borrow. It gives you a clear budget, strengthens your negotiating position with sellers, and lets you shop with confidence.
Getting pre-approved is simple. A lender will do an initial review of your finances (credit score, income, and debts) and offer a preliminary loan amount. This usually involves a ‘soft’ credit check, which won’t affect your credit score.
Find clear answers to the most frequently asked questions about marine loans.
The amount you can borrow depends on your income, credit history, and whether the loan is secured or unsecured. Most lenders offer loans ranging from $5,000 up to $500,000 for larger vessels. If the loan is secured with the boat or jet ski as collateral, you may be eligible to borrow a higher amount at a lower interest rate.
Boat and jet ski loans typically have terms from 1 to 7 years, depending on the lender and the size of the loan. Some marine finance specialists may offer longer terms for high-value boats or commercial vessels. Shorter terms mean higher monthly repayments but less interest overall, while longer terms keep repayments smaller but increase the total cost of the loan.
You can finance most marine craft, including boats, yachts, jet skis, and personal watercraft.
Yes, many lenders offer loans for used vessels, depending on their age and condition.
Your credit score, loan amount, term, and whether the loan is secured or unsecured.
Some lenders may require a deposit of 10–20%, while others offer 100% financing.
Most lenders provide conditional approval within 24–48 hours.
Yes, especially for secured loans — lenders typically require proof of comprehensive insurance, as they will need to know their collateral will be protected in case of a total loss.
Yes, refinancing is available if you want better rates or lower repayments.
Some lenders won’t finance boats or jet skis over a certain age, usually around 10–15 years.
No. Loan comparisons are a type of a soft credit check that won’t impact your score. You can use our loan calculator, and your credit history won’t be affected at all!
Proof of ID, proof of income, and details of the vessel you intend to purchase.
Use our Boat Loan Calculator to explore your options or compare lenders to find the best marine finance for your adventure. Your dream boat is just a click away.
