Many Australians are desperate to travel and the establishment of a trans-Tasman travel bubble with New Zealand has been extremely well-received. But the reality is, that bubble is not completely burst-proof. The NZ Prime Minister Jacinta Ardern has stated that any COVID-19 outbreaks will be treated in a similar way to how hot spots are currently treated in Australia. For Aussies feeling land-locked and yearning to get away, how about creating a bubble of sorts of your very own – buy a boat. If you want to cruise all the way to NZ you’re going to need a bigger boat and high level boating skills. But any sized boat will allow you the opportunity to get away and enjoy the great waterways at home.
Yachts allow sailing opportunities up, down and around the coast and the chance to explore a myriad of coastal towns and lesser known locations. A sizeable cruiser allows for cruising to destinations afar. While a trailer boat gives owners an almost unlimited choice of boating locations. Just hitch up the trailer and your friends and family and plot your course.
While overseas travel is a great way to holiday, with the current uncertain environment around COVID-19, especially with the delays in the vaccination program, buying a boat and having greater controlling over your holiday and travel plans is a very attractive option. Many Australians have already taken up the option over the past 12 months with sales of boats soaring.
So do we have you onboard with the plan? If you’ve never owned a boat, we’ll take you through a few basics on what is involved in buying a boat and especially in securing finance.
Buying a Boat: The Basics
You will need a boating licence to operate most boats and information on what that involves can be sourced via your state government maritime authority. But you don’t need to have a boat licence to apply for a loan with Jade Boat Loans, so the licence process doesn’t need to hold up the buying process.
The first considerations are how you are going to use the boat, how many people you want to accommodate and on what waters you intend to use the boat. Your boating skills should also be considered. Novice boaters would be strongly advised to buy a boat that they feel comfortable operating. There are many boating educational courses available.
Boats are rated for inshore or offshore waters and for the number of persons allowed aboard. Matching your preferences with suitable makes and models is a start to narrow down the wish list.
Trailer boats are extremely popular for fishing enthusiasts and for a basic family day out cabin and half-cabin vessel. They allow access to many locations which open up your holiday options. You’ll need the trailer which often comes with the boat in a package and you’ll need a suitable vehicle with the correct towing capacity. Both boat and trailer will require registration with your state maritime authority. Click for more information.
Storing and mooring your boat should be consider early in the process. Your local council may permit trailer boats to be parked on the street in your area if you don’t have space on your own property. A storage unit is another option to keep the boat safe and secured and protected from the weather.
Non-trailer boats can be moored at marinas or owners can seek a mooring through maritime authorities. The fees will vary from location to location and it’s worth checking out availability in your preferred location.
Boats are available through manufacturers and dealers and online sales platforms are a great place to start browsing. If you can get to a boat show, even better. Many of the caravan shows also include trailer boats. If you feel you need professional assistance, contact a boat loan broker. These professional operate in a similar fashion to how Jade Boat Loans works to source you a loan. You give them your brief and they scour the market and their contacts to source you a number of options.
Sourcing Boat Finance
Jade Boat Loans specialises in marine finance and provides loan options for the purchase of all types of boats. Our service includes handling the entire process for you, scouring our specialist lenders as well as the major banks to source the cheapest loan offer for our customers. Our accreditation with a large number of lenders provides us with far more choices and more chances to get a cheaper deal than buyers can source on their own.
We offer two main loan products for the purchase of private boats, to be used for recreational purposes:-
- Secured Boat Loan: This is our most popular loan where the boat is used as security against the loan and loan repayments fixed over a fixed loan term.
- Unsecured Personal Loan: Where the boat is not suitable or accepted as security against a loan, we offer this option. The interest rate can be fixed or variable and repayments are still fixed over a fixed loan term.
You don’t need a boat licence to be eligible for a boat loan but you do need to be over 18, have employment/income and provide a range of information around your financials to our consultants in line with consumer credit laws.
When working with Jade, you’re assigned your own consultant who handles the process, guides you through the application, sources quotes processes your application and even assists with the settlement. You can also utilise our boat finance calculator to receive estimates on marine lending.
Sourcing Loan Estimates
To decide upfront if establishing your floating travel bubble is affordable for you, we’ve provided self-serve loan calculation tools. Refer to our boat loan interest rates to compare rates offered by Jade and other lenders.
Simply enter the amount of your boat purchase and the term you would like to repay the loan and you’ll automatically see an estimate of repayments. You can do this for as many boats as you are considering and when you find the right combo of boat and loan, just contact us to start the process.
Setting up your own floating travel bubble can be a reality which we can assist you to arrange asap. Forget crossing the ditch, just buy a boat and enjoy the great Australian waters.
To discuss marine lending, contact us on 1300 000 003 for a quote.
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.