Boat Loans Australia
If you’re looking for some of the best boat loans Australia has to offer, Boat Loan World should be your first stop. Making boat loan comparison easy, Boat Loan World is the place to find, compare and apply for boat loans.
Comparing a wide range of loans and lenders, Boat Loan World takes the stress out of searching for boat loans. You can find a great range of boat loans laid out side by side, so you can compare and assess all the options.
With this side-by-side comparison, you can check out the features on offer, while comparing fees and interest. You can work out how much you can borrow, to find a repayment schedule you can afford. And of course, you can evaluate lenders and study the small print.
Whether you want a boat loan to buy your first boat – or add to your fleet – finding out more about boat finance is a good place to start.
What types of boats can you finance?
There is no one-size-fits-all in the world of boats. Different boats are designed for different purposes. Cruising around the lake will require quite a different vessel to sailing the open seas.
Luckily, just as there are many types of boats, there are also boat loans flexible enough to finance most boat purchases.
- Bass Boats: This is a small boat designed to fish bass or other panfish. Typically, it offers features such as a live well for fish, and storage bins for fishing equipment.
- Bowriders: These boats are so-called because of their roomy bow area, and are ideal for skis and wakeboards.
- Cabin Cruisers: These boats are similar in style to bowriders, apart from their top cabin, which usually offer extras such as water heaters, power generators, heaters and air conditioners.
- Catamarans: With two hulls, these boats can range in size, from smaller fishing boats to large naval ships.
- Dinghies: Much smaller in size, these boats can be towed by larger boats to be used in shallow water, or as a main boat in for fishing in calm water.
- Gameboats: These larger boats typically come with cooking galleys and sleeping berths, making them more comfortable for longer trips.
- Houseboats: Primarily used as a home on the water, these boats can either be stationary and kept at a specific location, or moved around to take in the sights.
- Motor Yachts: These boats typically feature sleeping berths, cooking galleys, plumbing and air conditioning, making ocean cruising much more comfortable.
- Runabouts: Much smaller in size, these simple boats are designed for fishing or tow sports.
- Sailboats: While the term ‘sailboat’ can refer to a variety of sailing craft, this type of boat’s common feature is its reliance on wind for propulsion.
- Ski and Wakeboard Boats: Designed specifically for tow sports and watersports, these small boats have the motor needed to allow for waterski jumps and tricks.
How much does a boat cost?
Before you apply for a boat loan, you need to know how much to borrow. This means finding out the cost of the boat you want to buy, as well as ongoing costs.
While you will typically only apply for a boat loan to cover the initial cost of buying a boat, you also need to think about how much you will pay to keep it on the water, as this may impact the affordability of your loan repayments.
Costs To Be Included Within Your Boat Loan
- The Boat: The price of the boat will depend on the type of boat you buy, its age and its condition. Do some background research to find out how much you can expect to pay for the boat you want to purchase.
One-off Costs Not Included In Your Boat Loan
- Boat Equipment: You may decide to upgrade your boat after you’ve purchased it. Upgrade costs could include extras such as electronics, safety equipment, water toys and accessories, or it could mean a complete overhaul.
Ongoing Costs Not Included In Your Boat Loan
- Operating Costs: These costs will vary according to the boat you choose, and the way in which you use it.
- Boat Maintenance: Again, maintenance costs will vary according to the type of boat, its age and its use. For example, older boats typically require more maintenance, and if you don’t take care of your boat, maintenance costs will be higher later on.
- Storage: If you choose to keep your boat in the water, you will have to cover the cost of mooring fees. These are calculated according to the length of your boat, and will vary depending on the area.
- Boat Insurance: Insuring your boat can help protect your investment, while giving you peace of mind. But, it does add to the cost of owning a boat, and will vary according to the type of boat, and where it is stored.
How do you choose the right boat?
Another important factor to consider when applying for a boat loan is what type of boat you should buy. If you’ve lived a life at sea, this will not be a hard decision, but if you are new to boat ownership, choosing the right boat may not be easy.
First up, what will you use the boat for? Buying a boat that’s fit for purpose is essential. Find out more about the different types of boats out there, and match their uses with your requirements.
Next, where will the boat be stored? Choosing a boat may be limited by its storage area. If it’s to be stored in your garage, it will need to fit inside that garage. If you want to keep it on the water, you’ll have to consider mooring fees. If you want to tow the boat yourself, think about the towing capacity of your vehicle, and how much you can legally tow.
Now, who will be operating the boat? Think about how easy the boat will be to get in and out the water, and how many people it will take to operate. If you are new to owning a boat, you may want to start with one that is easy to handle, that can be moved in and out the water by one person.
Lastly, what’s your budget? There are boats to suit all budgets, just as there are boats to suit all uses. Shop around and compare boat costs, considering new and used options. Before you apply for boat finance, use a boat loan calculator to work out a repayment schedule that fits your budget.
All that’s left to do is compare boat loans. At Boat Loan World, you can compare some of the best boat loans Australia has to offer, including bad credit boat loans and boat loans for first time boat owners. What are you waiting for? Get comparing!