Buying a new boat can be a straight forward process – see the boat, get a loan, buy a boat. But it can also be slightly more complicated when the boat presented ‘as is’ doesn’t perfectly fit your requirements. Buyers often want to mix ‘n match what’s included with the boat. This can happen if you’re ordering a custom-built luxury motor yacht or buying a package deal on a trailer boat. Many buyers will want to swap out what’s included in the package for their own selections. Especially in regard to the engine. Many vessels may be offered with a motor that does not offer the power to safely navigate the waters you plan to cruise or does not have the speed specs to get you to that offshore fishing haven quickly enough. The fuel tank may not have the capacity for the range you want. The safety gear may not be included. And then there’s all the other options and accessories you have your eye on.
How does all that work with a boat loan? Will your bank understand when you call up to explain the HP on the Evinrude was not powerful enough to cross the bar? Will the finance company grasp the concept that a boat is not always just a hull, it does include a motor and sometimes a trailer and a whole lot more?
The solution is to secure a flexible boat loan and that is achieved by working with a flexible and specialised marine finance lender. Jade Boat Loans fills both of those requirements by providing workable solutions for boat buyers that want to customise their boat and the boat loan.
Flexible Boat Loan Options
Securing a flexible boat loan can actually mean sourcing specialised finance. Sounds like opposing concepts? Something specialised but flexible? By specialised we mean lenders that specialise in loans for boats – marine finance lenders.
Not all banks and finance companies actually offer a special loan category entitled ‘boat loan’. When surveying the options available directly through some lenders it’s easy to see that they often offer a general Secured Personal Loan, which they see as covering a whole range of different purchases – cars, caravans, boats etc.
Your boat is special to you and you most likely want a lender that understands your passion and understands boats. Jade Boat Loans does specialise in marine finance so we do share your passion and we definitely understand the boating market.
Our Secured Boat Loan is specifically designed for boat buyers and can be tailored by our consultants to suit all types of boats:-
- Recreational fishing boats
- Cabin, half-cabin, cuddy and general family cruisers
- Trailer boats of all types and sizes
- Luxury motor yachts
- Jetski Finance and PWCs
- Yacht Finance and sailing boats
- Ski boats, wakeboarding boats and other towboats
Any others we’ve missed mentioning!
As each loan is sourced based on individual requirements, it is tailored to suit the buyer and their boat. We fully understand if you’re purchasing a boat only, boat and motor package or a complete boat, motor and trailer unit.
We also appreciate if you want to upgrade to the bigger motor at the time of the initial purchase or you want to purchase the trailer from a separate supplier concurrently with the boat purchase. These upgrades, along with many other optional extras you select from the dealer at the time of purchase, can be included in loan. We’re flexible and can structure your boat loan to be flexible also.
Flexible Loan Features
Our Secured Boat Loans also include flexible features:-
- Borrowers are permitted to make additional payments if they choose. This would usually involve the loan being paid out early which attracts a minimal break fee.
- No deposit is required to secure a loan by most applicants. Subject to lender guidelines, the total purchase price of the boat can be included in the loan amount. Leaving your available cash for fishing gear, bait or other expenses.
- Loans can be arranged and approved before you even commit to an actual boat purchase. Pre-approved loans are available based on an estimate of what you think your boat might cost. Use our online boat finance calculator to receive estimates. When you make the purchase commitment the loan is finalised based on the actual price. This is a fantastic way to approach attending a boat show. To have your loan fully approved and arranged can give you the edge in expediting the boat purchase process, especially if supplies are limited.
- For custom-built vessels, loans can be structured to meet the progress payment requirements of the boat builder.
Boat Loans with Benefits
Engaging Jade as your specialised marine lender comes with added benefits including:-
- Access to finance channels only available to the industry.
- Access to a vast choice of both banks and lenders to ensure we have secured you the cheapest deal on the market.
- Access to cheapest boat loan interest rates with competitive and specialised marine vessel lenders Australia wide
- Saving you time in having to source quotes from multiple lenders to compare.
- Saving you the hassle of navigating finance paperwork.
And of course, have a personal consultant that understands boats!
Contact 1300 000 003 for flexible lending that meets your requirements.
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.