Owning a boat is on a lot of people’s wish lists, some on that never-to-be-realised bucket list and for some – they just make it happen! After the year that was in 2020, it would be fair to say that many people are looking to 2021 to be a whole lot better and making plans to ensure that is how it turns out. No doubt there are quite a few long and ambitious New Year resolution lists floating around. If owning a boat or upgrading your existing boat is at the top of your list, then you’ve come to the right people to assist you achieve your goal. As a specialist marine lender, Jade Boat Loans offers not only cheaper boat loans but also wide-ranging services to assist as many people as possible attain boat ownership. That includes jet skis!
If you’re new to boating or you’re upgrading, we’ll give you a quick overview of what is involved in sourcing a loan through Jade to purchase that dream boat.
The Jade Secured Boat Loan
If you’re buying a boat purely for your private recreational use, then the Secured Boat Loan will most likely be the appropriate loan to seek. A secured loan follows quite a standard and universally-accepted format. A format used for cars and other types of consumer loans. What is not so ‘standard’ is the cheap interest rates and tailored loan services provided through Jade.
- The boat is the security for the loan. The lender accepts the boat as security and will list that interest in the PPSR – Personal Property Security Register. When all the repayments are finalised and the loan completed, the lender releases their interest in the vessel.
- The loan is established in equal monthly loan repayments. When arranging your loan through Jade these repayments are negotiated to best meet your requirements and work with your budget. The repayments we arrange are fixed so they will stay the same for all the months and years of the loan.
- The repayments are due on the same date each month and the usual practice is to set-up a direct debit arrangement. Your Jade consultant will assist you with this as part of the paperwork.
- With Jade the interest rate is fixed at our cheap rate and won’t change over the course of your loan term. There is no need to review or assess your loan based on any changes to official interest rates.
- With this type of loan you do have the option to make extra payments if you choose or you can pay out the entire loan prior to the scheduled end of the loan term. Finalising a secured loan early does attract break fees but these are usually minimal.
- The loan term is also fixed and also negotiated by your Jade consultant.
- No deposit boat loans are available so there is the possibility for you to borrow 100% of the purchase price of the boat.
- Pre-approved boat loans are available through Jade and are a great way to go for many buyers. By having your boat loan in the bag before you start looking at boats, can give you confidence and give you a budget to browse to.
- If purchasing high-priced boats, your Jade consultant will discuss the options in regard to longer loan terms and other possible strategies to achieve a repayment level that meets your budget.
To be eligible for a Jade Secured Boat Loan:-
- You will need to be over 18 years of age.
- You do not need to have a boat licence.
- You will require ID and employment status with income that meets our lender guidelines.
- You will need to provide a range of financial details including other assets and liabilities such as other loans and credit cards and details of your weekly/monthly income/expenses.
Types of Boats Financed
Jade Boat Loans provides loans for a wide range boats including cruisers, power boats, yachts, jet skis, houseboats, cabin cruisers, trailer boats, tinnies, luxury motor yachts and many others. For full details of boats we finance or to enquire around the specific boat you are considering, refer to information in our web pages or give us a call and speak with one of our consultants.
Sourcing Quotes, Estimates and Comparisons
We’re getting closer to realising that boat ownership resolution but you’re probably wanting an idea of loan repayment estimates, wondering how different price tags relate to differences in repayments and other comparisons.
We offer several options for you in that regard. You can simply call us and a Jade consultant will provide you with a quick quote. Alternatively you can use our online resources to calculate estimates and comparisons yourself.
Our Lender Comparison calculator is a compilation of a number of lenders and banks, including Jade, that offer marine finance. We’ve listed their current advertised and comparison rate so you can quickly do two things:-
- See how cheap our interest rates are in comparison to other lenders.
- See how the current interest rates available convert into possible boat loan repayments. Subject to the t&c’s we detail.
The other resource is our Boat Loan Calculator which allows you to enter loan amounts and terms and see an estimated repayment based on that data. Keep in mind it’s only an estimate but very helpful when comparing different boat makes and models. To see if you can afford ‘a bigger boat’!
How to Apply for a Boat Loan
So there you have all the information it’s now time to apply for that boat loan and that process is also easy.
- Apply Online
- Apply over the phone
Your Jade consultant handles the entire quote, approvals, paperwork and settlement process for you. So no more procrastination!
For a boat loan quote for your New Year resolution boat purchase, simply contact Jade Boat Loans 1300 000 003
DISCLAIMER: THIS INFORMATION HAS BEEN PREPARED FOR THE PURPOSE OF GENERAL INFORMATION AND IS NOT INTENDED AS FINANCIAL ADVICE OR THE ONLY SOURCE FOR THE PURPOSE OF MAKING INDIVIDUAL FINANCIAL DECISIONS. IF A READER CONSIDERS THAT THEY REQUIRE ADVICE ON THEIR FINANCIAL SITUATION, PROFESSIONAL ASSISTANCE AND ADVICE SHOULD BE SOUGHT FROM A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISINTERPRETATIONS OR ERRORS IN DATA, CONTENT AND INFORMATION AS SOURCED FROM OTHER PARTIES. THE INFORMATION PRESENTED IS FOR GENERAL INFORMATIVE PURPOSES AND READERS ARE ADVISED TO FOLLOW UP INDEPENDENTLY.
