Jade Boat Loans is a full service finance broker and offers a comprehensive range of financial products for both personal and business purposes. For the purchase of a boat, most people individuals select a Secured Boat Loan as the most workable solution. But in some cases, a secured loan is not an option. For those people, we offer Unsecured Personal Loans.
Unsecured Personal Loans can be used for the purchase of certain boat types which a lender does not choose to take as collateral for the loan. This may be an older boat you are restoring or salvaging or a new boat which falls into a special category. Or you may decide that an unsecured loan is the better option for your own reasons.
Key Features of Unsecured Personal Loans
- All Jade Boat Loans, secured and unsecured, are based on our signature Jade low interest rates
- We use our negotiating prowess and bargaining power to get you the cheapest rate on your boat loan.
- As unsecured loans do not include collateral for the lender, the interest rate will in most cases be higher than the equivalent secured boat loan
- The interest rate may be fixed or variable
- Set monthly repayments. Your Jade consultant will discuss your financial goals and structure the loan with a repayment that fits with your budget
- The term of the loan is fixed
- If your financial situation changes and you choose to pay off your boat loan faster, you can make additional payments
- If you choose to finalise the loan before the end of the loan term, an unsecured boat loan attracts minimal ‘break fees’ and usually no break fees for variable interest rate loans
- Most lenders have a maximum loan limit of $50,000 for unsecured loans. If the purchase price of the boat you are considering exceeds $50,000, you may consider another finance option or paying a deposit to reduce the loan within the lender limits or offering security.
- Available for most types of boats, dependent on individual lender guidelines
For more ideas, tips and advice on boat loans, read the articles in our Lending Tips web section.
As Unsecured Personal Loans are a very personalised loan product, we recommend you call Jade Boat Loans for a confidential and obligation-free discussion with one of our consultants. They will explain all the details to ensure you are making an informed decision.
Speak with a Jade Consultant to discuss a financing solution for your boat purchase. Call 1300 000 003