What is a Secured Boat Loan?
A Secured Boat Loan is also known as a Consumer Boat Loan. This is the most common boat finance option to buy a boat or watercraft for recreational use. It is a simple loan agreement between you and the lender with regular repayments for a predetermined time frame. The boat finance is secured against the boat and the ownership of the boat is in your name. With a secured boat loan the interest rates are lower than a personal unsecured boat loan. The interest rate is fixed for the term of loan. This means that repayments remain the same for the life of the loan making it easy to budget for. A Secure Boat Loan can be paid out at any time. The boat can also be sold at any time throughout the loan.
Advantages of a Secured Boat Loan
- Up to 100% of the purchase price can be loaned.
- More than 100% of the purchase price can be loaned to cover insurance and accessories. This means that a deposit may not be required.**
- Competitive fixed interest rate.
- Regular fixed repayment schedule.
- Terms from 1 to 7 years available.
Boat Loan Calculator
Use our boat loan calculator to estimate your monthly repayments. You will need to estimate your boat loan amount, loan term in months and your interest rate. AAA Finance and Insurance will get you the lowest interest rate possible. Your interest rate is based on your credit history and individual profile.
Apply for a Secured Boat Loan
Contact our AAA Marine Finance Experts now to get out on the water as soon as possible! Call: (07) 5493 1222 to get a quick over the phone application. Or Contact Us online. We offer a quick approval process and can organise Pre Approved Boat finance. Most boat finance is approved within 24 hours.
Boat insurance is a must to protect both your asset and your loan. AAA Finance and Insurance offers a wide range of different boat insurance products to help protect and cover your new boat. We also offer gap insurance and loan protection insurance to help you protect the boat loan and your credit rating.
Useful link | Maritime Safety Queensland
Maritime Safety Queensland has compiled relevant information for new boat owners.