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Accessorising Your Boat Loan: What extras do you need and/or want?

When you buy a new boat in most situations you have the opportunity to include a range of optional extras and accessories. These may be options and extras which the manufacturer installs and includes on the boat or it may be additional equipment from a different manufacturer that you choose to install, fix or purchase for use on the boat. The obvious ‘extras’ may include an outboard motor and a trailer. Some outboard powered boats are sold as bare boats with the outboard purchased separately and some as package deals. Others allow buyers to select which of the dealer’s selection the buyer would like installed prior to delivery.

The same can apply to trailers. Package deals are widely available and in many cases represent great value for money. Some buyers however, will have specific trailers they want and/or may want a better quality than that offered in the package deal.

In addition to these options, boat buyers have a wide range of accessories, both for fun, safety and performance purposes that they can buy. Boaters love the boating chandlery store and those mega boating and fishing outlets!

When it comes to your boat loan, Jade Boat Loans can include some of these accessories and options in your overall boat loan package. This will allow you to pay off the entire package with just the one monthly loan repayment and keep your cash for other spends.

But the questions are: what extras do you need and what do you just want and what can and can’t be included in your boat loan? Some of these requests for extras in the loan will need to be addressed individually by your Jade consultant but we’ll cover off on some of the common accessories and options.

Popular Accessories and Options

  • Outboard engines can usually be included in the loan package if purchased concurrently with the boat and when the boat loan is being arranged. If you want a bigger or different motor to the one offered in the seller package, request that change before the dealer makes out the invoice which our lender will pay at settlement.
  • The same goes for the trailer. Boat with trailer packages are very common but if you’re purchasing from a large boating dealer, they may have a range of trailers available. Make that change at time of purchase for inclusion in the boat loan.
  • Technical equipment may be included in a loan if purchased and installed at the same time the boat is purchased. This may include GPS, navigation systems and the all-important fish finders. These are all available from a number of great manufacturers so you will have a number to select from. It can be advisable to make those decisions prior to the day of ordering the boat so you know what you want and can include it on the order. Dealers will often offer an installation service for much of the equipment they sell.
  • For many boat owners a top quality sound system, especially designed for marine applications is a high priority. Not a necessity but a priority for many. Prior to purchasing the boat or placing your order, talk with the dealer as to what options they can sell and install in the boat package. If included with the dealer package this should be able to be included in your Jade boat loan. If you purchase and install a new sound system after purchase and after your loan is finalised, it won’t be included in the loan.
  • Safety equipment is paramount and there are certain items which are compulsory. If the place you’re buying your boat also sells safety gear including life jackets, flares and other items, include them in your package. Different types of life jackets are required for different boats and for boating on different waterways. Check the rules for your region and order what you need when you order your boat. Not only will you be compliant you can include those costs in your boat loan.
  • Covers and canopies are not always included as standard inclusions with every boat package. Very often biminis and covers are optional extras. Depending where you will be mooring and storing your boat will determine if you need covers. Zip on and detachable canopies can be very useful as protection from the weather as well as protecting the boat from environmental wear and tear. Having a full cover is a great idea if your boat will be parked in the outdoors when not in use. Sun, wind and water can damage external surfaces and potentially reduce the value of your much treasured possession. If the dealer sells covers, it can be a great idea to get these all sorted at time of purchase for inclusion in your boat loan.
  • The fun stuff such as tubing, water skis, kneeboards and other toys and recreational gear is great fun to use on a boat. Usually these types of items would not be included in a boat loan but that’s not to say they can’t be. Have the conversation with your Jade consultant before placing your boat order.
  • Boat insurance is compulsory for all boats that are under finance. Sourcing a policy from a specialist marine insurer such as Club Marine is advisable. In some instances, the first year of the insurance policy may be included in the boat loan. Speak with your Jade consultant about this aspect.
  • Boats need to be registered and the requirements vary from state to state. If the dealer registers the boat on your behalf and includes the cost in the purchase invoice, then the first year of rego may be included in your boat loan. Check with your Jade consultant. Renewing rego the next year or transferring rego for a used boat purchase is not included in a loan.

Having all the extras and accessories that you need and you want can really add to your boating pleasure. Make sure you have the expenses of these covered by speaking to your Jade consultant before purchase to see what you can and can’t include in your Jade boat loan.

To discuss the extras to include in your boat loan, speak with Jade Boat Loans on 1300 000 003

DISCLAIMER: PLEASE NOTE THAT THIS INFORMATION IS PROVIDED PURELY AS A GENERAL INFORMATIVE ARTICLE AND IS NOT INTENDED AS A SINGLE SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADVICE IN REGARD TO THEIR FINANCIAL SITUATION ARE ADVISED TO REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ERRORS OR MISINTERPRETATIONS IN THE DATA, FIGURES, DETAIL AND OTHER INFORMATION AS SOURCED FROM OTHER SOURCES.

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