Dreams are free, our boat loans are cheap so ‘tell them they’re not dreaming’ and get started on making boat ownership your reality. For most people, buying a boat will entail seeking finance. Taking out loans is not a task that everyone undertakes on a regular basis. You may organise a car loan every 4-5 years and a home mortgage every 5, 10 or even more years. But arranging a consumer loan to buy good such as a boat, could be something you’ve never done or not done for some time. Resources, sources and processes are continually being upgraded and updated in the lending space and as a specialist marine lender, Jade Boat Loans has the information to assist you in securing your boat loan.
We’ve developed our business model with a completely customer-centric focus. You, our customer, are at the centre of every stage and our consultants work towards achieving the cheapest loan which meets your requirements.
To assist you to understand what is involved in sourcing a boat loan, we’ve developed this simple 5 step process.
Step 1: Select the Boat
Most people will select the boat they want or at least narrow down their choices to the type of vessel they want. Jade Boat Loans sources loans for all types of boats, both power and sail, of all lengths and sizes, within lender minimum loan thresholds. That includes leading brands of trailer boats and fishing boats, cabin and half-cabin cruisers, larger cruisers up to superyacht categories, jet skis and PWCs, houseboats, yachts, motor cruisers, water ski and wake boats and commercial vessels.
There are a number of online boat sales platforms which have vast listings for both new and used boats. Most leading boat manufacturers and importers have very informative websites so you can assess and compare what each make and model has to offer before even making an enquiry.
Attending boat shows and events is a great way to see multiple new models on display in the one location. While there are only a handful of large boat shows held each year, many of the caravan and outdoor shows held at many locations through the year, also include some trailer boat exhibitors.
If you’re after a hard-to-get boat or simply don’t have the time to devote to the process, boat/marine brokers are available to assist you. Their services include sourcing and locating boats from across the country to meet specific buyer requirements.
Step 2: Source Boat Lenders
With your boat selection and price range narrowed, it’s time to start thinking about what lenders actually offer boat loans. Jade Boat Loans is a specialist marine lenders and we’re accredited with multiple banks and non-bank lenders. We do the sourcing for you to ensure you quickly receive the cheapest loan on offer.
To assist you review and compare a range of lenders in the marine finance sector, we’ve prepared a Lender Comparison Chart on our website. This shows a number of lenders that are active in the space and the interest rate and type of loans they are currently offering for boat finance.
Not all banks for example will offer a specific ‘boat loan’. Some will offer a more general Personal Secured Loan which is designed to cover a range of consumer goods purchases including boats and caravans.
Step 3: Source Repayment Estimates and Quotes
So you’ve seen from our comparison chart that Jade offers the cheapest rates so now it’s time to work up repayments on different boats you are considering. The price tag tells you a lot but knowing how that converts into boat loan monthly payments can tell you a lot more about affordability relative to your circumstances.
For that purpose we’ve provided our Boat Loan Calculator. It’s free and easy to use. Just enter the amount of the boat you want to buy, the loan term you prefer and our current cheap interest rate to receive an estimate on the repayments for that boat. Change the amounts for different boats.
If our estimate is in your ballpark, contact us for a quote.
Step 4: Apply for a Boat Loan
While we’ve listed this at Step 4, it can also be Step 1. You can apply for a boat loan before or after you select your boat. We offer pre-approved boat loans so you can have your loan totally sorted before embarking on discussions with boat dealers. This can be a great help if you are unsure of how much you would be approved for or what loan repayments and conditions may apply to your particular loan.
Whether you apply before or after choosing a boat, the application process is the same. At Jade Boat Loans, your consultant will handle the process, you just have to supply your details and information as required under the consumer credit laws.
We source you the cheapest loan deal, liaise and negotiate with the lender and provide fast approvals and prompt processing of loan applications.
Step 5: Settlement and Delivery
With your loan approved, it’s now time to finalise the steps to settle the sale and take delivery of your boat. Your Jade consultant actually handles the payment to the boat dealer. There are a number of aspects you will have to address, including: boat insurance, boat registration, boating licence and where you will store, moor or berth your boat.
So that’s the 5 easy steps that you can take to make the dream of owning a boat a reality.
Contact Jade Boat Loans on 1300 000 003 to start the process of achieving your boat ownership dream.
DISCLAIMER: THE INFORMATION AND SPECIFIC DETAILS CONTAINED IN THE CONTENT OF THIS ARTICLE HAVE BEEN PREPARED AND ARE PRESENTED PURELY AS GENERAL INFORMATION AND NOT INTENDED AS THE ONLY SOURCE OF FINANCIAL ADVICE FOR BOAT BUYERS AND LOAN BORROWERS. FOR THOSE THAT CONSIDER THEY REQUIRE SPECIFIC ADVICE, THEY SHOULD CONSULT WITH A FINANCIAL ADVISOR. LIABILITY IS NOT ACCEPTED IN REGARD TO ERRORS AND MISPRESENTED DATA AND DETAILS HEREIN.