Boat Loan Calculator

How much can I borrow?

Boat loan rates and terms can vary based on the type of finance you require. Before you apply, be sure the numbers work and are affordable. Use our boat loan calculator to figure out the real cost of a boat loan and whether it will fit within your budget.

Current boat loan rates across Australia’s leading lenders are in the 6% bracket – Check rates and eligibility

Based on a loan of $20000
your repayment will be
Payment Frequency
Please enter a number from 5000 to 250000.

Note: The results of this boat loan calculator are indicative. It is for illustrative purposes only and is based on the accuracy of the information you have provided. No result from the use of this calculator should be considered a loan application or an offer of finance. The calculator does not take into account your personal circumstances. You should not rely on this calculator for the purpose of making a decision whether to apply for finance.

Don’t forget to calculate other costs associated with boat ownership:

Startup costs

These costs involve the purchase of accessories such as ropes, anchors, safety equipment, training, electrical equipment and more.

Recurring costs

Here are some additional expenditures that must be considered, such as insurance, maintenance, cleaning, fuel, boat licenses and any required training.

Understanding Repayments When Using A Boat Loan Calculator

The repayment figures generated by boat loan calculators are typically indicative and serve the purpose of offering an estimate of potential repayment amounts.

A boat loan calculator is an invaluable tool for potential boat buyers, offering a realistic perspective on financial capabilities. Whether you have a specific loan amount in mind or a monthly repayment figure, a calculator provides clarity on borrowing capacity and allows for informed decisions, making it an important resource for those looking to buy a boat.

Speaking with a marine finance broker is a great way to quickly understand what options are available to you.

Commonly Asked Boat Loan Questions

Boat loan calculators are great for understanding potential payments on a lump sum basis. Here are other considerations on applying for a boat loan.

Boat loan cost example.

When taking out boat finance, like other loans, there are different costs associated with the finance. Below highlights typical rates and fees to understand.

New Boat Loan Example:

Loan Amount

Loan Term
5 years

Interest & Comparison Rate
6.99% rate & 7.60% comparison

Origination or Setup Fee

Loan Discharge Fee

PPSR Fee (Personal Property Securities Register)

Account Keeping Fee

Monthly Repayment Amount

*There may be circumstances in which you have to pay other fees.

Can you get finance for any type of boat?

In most situations, no matter what sort of boat, jet ski, or marine vessel you want, you may get a loan. While some banks may not provide financing for all types of watercrafts, there are specialist lenders that do. Loans are available for both new, used and unique marine vessels and boats. If the age or condition of an older boat do not meet the requirements for a secured boat loan, there are unsecured personal loans available.

Can I get finance to purchase a boat from a private seller?

Yes, there are options for any type of boat purchase. Financing is available for boats on sale from private sellers. The type of boat loans available will vary based on the price and quality of the boat, your financial situation and credit rating.

What boat loans are available for those who are self-employed?

There are options for self-employed borrowers that want to finance a boat or other marine vessel. Self-employed loans require the same information as any loan application. The process just may require a bit more documentation around income and expenses an possibly proof of assets in order to get approved. Consider low doc or no doc loans, a boat finance broker can assist with all options.

Will the location of where my boat is stored or used affect my finance?

No. The interest rate and terms of the boat loan application are not determined by where you live or intend to use your watercraft. However, your insurer may have higher or lower costs based on area of usage and/or storage.

What is the longest term for a boat loan in Australia?

A typical term is 5 to 7 years but depending on the loan type, it can be longer. In addition, borrowers with a shorter term may be able to refinance their loan if it needs to be extended.

What credit score do you need to be able to apply for a boat loan?

The minimum credit score for a boat loan sits at the 550 figure.

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