Compare Boat Finance from 50+ Australian Lenders
Tinnies, runabouts, bowriders, fishing boats and yachtsâline up sharp rates and repayments you can plan around.
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Boat Finance Made Simple
Get on the water sooner and keep your savings for fuel, gear and weekends away. Weâll help you choose a loan that fits your budget and the boat you want.
Borrow With Confidence
Typical amounts from $5,000 to $150,000+
Flexible Terms
1 to 7-year options so repayments feel comfortable
Fast Approvals
Eligible applications can be assessed quickly
New or Used
Dealer, broker or private sale supported
Fixed Repayments
Lock in predictable monthly instalments
Bundle Extras
Electronics, trailer, safety gear and insurance can often be included
How it works
Compare offers in minutes, choose your lender and organise settlement without the run-around.
Apply online in minutes
Tell us about you, the boat and your budget.
See matched options
Compare secured vs unsecured and fixed vs variable side by side.
Upload documents
ID, proof of income and recent bank statements are usually enough.
Settle & launch
We coordinate payment with the seller so pickup and registration are smooth.
Backed by over 50+ lenders
Giving you the best chance of being approved.
A quick guide to boat finance
A boat loan lets you buy now and pay it off over 1â7 yearsâso you can spend summer on the water, not waiting on savings. Most borrowers choose a secured loan using the boat as collateral for sharper pricing; unsecured options add flexibility when needed.
Your rate and limit depend on income, credit history and the boatâs age/value. Newer or well-kept boats often unlock better pricing and longer terms, while older hulls can still be financed with slightly different limits. The right structure keeps repayments comfortable and your boating plans afloat.
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Types of boat loans
Choose a structure that fits how you buy and how you plan to repay:
Secured Boat Loan
A boat loan secured against your watercraft offering competitive rates for both new and used vessel purchases. Finance your marine lifestyle with flexible terms.
Pros
- Competitive rates due to boat security
- Both fixed and variable rate options available
- Longer repayment terms for expensive vessels
- Can finance boats, yachts, and jet skis
Cons
- Vessel serves as collateral - risk of loss
- Comprehensive marine insurance required
- Depreciation affects equity over time
- Storage and maintenance costs additional
Best For
Water enthusiasts seeking competitive financing for boats, yachts, or watercraft with the flexibility to choose their preferred rate structure.
Unsecured Personal Loan
A personal loan that doesn't require collateral, based on your creditworthiness and ability to repay, offering flexibility for various purposes.
Pros
- No collateral required - no risk to personal assets
- Quick approval and funding process
- Flexible use of funds for any purpose
Cons
- Higher interest rates than secured loans
- Stricter credit requirements
- Lower maximum loan amounts available
Best For
People who need flexible funding for any purpose without risking their assets. Ideal for debt consolidation, home improvements, holidays, and old or exotic vehicles.
Fixed Rate Boat Loan
A secured boat loan with a fixed interest rate for purchasing new or used boats, yachts, and watercraft. Enjoy predictable payments while financing your dream vessel.
Pros
- Fixed interest rate provides payment certainty
- Competitive rates secured against the boat
- Longer repayment terms available for larger vessels
- Can finance both new and used boats
Cons
- Boat serves as security - risk of repossession
- Cannot benefit from interest rate decreases
- Comprehensive marine insurance required
- Depreciation affects loan-to-value ratios
Best For
Boat enthusiasts who want predictable monthly payments and protection against rising interest rates when financing their watercraft purchase.
Variable Rate Boat Loan
A secured boat loan with variable interest rates that can fluctuate with market conditions. Potentially benefit from rate decreases while financing your boat purchase.
Pros
- Can benefit from interest rate decreases
- Often lower initial rates than fixed loans
- More flexible loan features available
- Competitive rates for quality vessels
Cons
- Monthly payments can increase with rising rates
- Uncertainty in budgeting due to rate fluctuations
- Boat serves as security - risk of repossession
- Marine insurance requirements
Best For
Boat buyers comfortable with payment variability who want to benefit from potential rate decreases and prefer flexible loan terms.
What can you use a boat loan for?
Finance the boatâand the gear that makes days on the water safer and more fun.
New Boat Purchase
Runabouts, bowriders, cabin cruisers, centre consoles or RIBsâfinance the model that suits your waters.
Used Boat Purchase
Buy pre-owned from a dealer, broker or private seller with terms suited to age and value.
Fishing Setups
Outfit a tinny or offshore rig with sounder/GPS, electric motor, livewell and rod storage.
Wake & Ski Boats
Spread the cost of inboards, towers, ballast and wetsound upgrades.
Sailboats & Trailer Sailers
Finance sails, rigging refresh, safety gear and trailer upgrades.
Repairs & Refurbs
Cover repowers, electronics, upholstery, gelcoat and major servicing.
Trailer & Tow Gear
Include trailer, winch, tie-downs and tow bar so youâre launch-ready.
Safety & Essentials
Bundle PFDs, flares, VHF, EPIRB/PLB, anchors and covers into one repayment.
Mooring & Storage Costs
Some lenders allow marina/yard fees, rego and insurance to be included.
Case Study
Sam & Jess
Sam & Jess upgrade to a family bowrider without draining savings
Challenge: Sam and Jess wanted a late-model bowrider with a wake tower and updated electronics, but they preferred steady repayments over a big upfront hit.
Solution: A secured, fixed-rate loan over 5 years financed 90% of the purchase price, with the sounder/GPS and safety kit bundled at settlement.
After comparing offers through Emu Money, Sam and Jess locked in a competitive fixed rate and rolled the essentials into the same facility. One predictable repayment made weekend launches easyâno budget surprises.
How much can you borrow?
Boat loans typically range from $5,000 to $150,000+. Your limit depends on income, credit profile and vessel age/value. Newer boats and higher-value rigs can qualify for larger limits; older boats can still be financed with slightly shorter terms or lower maximum LVRs.
Terms generally run 1â7 years. Shorter terms mean higher monthly repayments but less interest overall; longer terms keep repayments lower but increase total interest paid. Weâll help you find the balance that fits your plans.
Boat Loan Repayment Calculator
Estimate repayments before you commit. Adjust amount, rate, term and balloon to see what fits your budget.
Balance over time
Are you eligible for boat finance?
Lenders want to see that repayments fit comfortably alongside your other bills. Theyâll review your income, employment stability, credit history and recent bank statements. The boat matters tooânewer or well-maintained vessels often attract sharper pricing and longer terms, while older hulls may have shorter terms or lower maximum LVRs. If your credit isnât perfect or youâre self-employed, specialist lenders may still have options.
You may be eligible if you are:
An Australian resident aged 18+
Earning a regular income (PAYG or self-employed)
Able to provide payslips or bank statements
Buying an eligible new or used boat from a dealer, broker or private seller
How to apply for a boat loan
Apply online in a few minutes, upload your documents and weâll match you with lenders. Pick your offer and weâll handle settlement with the seller so pickup, registration and insurance are seamless.
Documents you may need:
Driverâs licence or passport
Recent payslips or bank statements
Employment/ABN details if self-employed
Vessel details (HIN/VIN, invoice/quote) + trailer details if applicable
How to save money on a boat loan
Look beyond the headline rate. Secured loans usually price sharper than unsecured. A balloon payment can lower your monthly cost but leaves a lump sum at the endâset it to a level that aligns with expected resale value. Newer boats and clean histories often qualify for better pricing. Bundle electronics, trailer and safety gear at settlement so theyâre financed at the same competitive rate, and always check fees and early-repayment policies to avoid surprises.
Example: Balloon impact â $60,000 over 60 months at 8.79% p.a.:
| Balloon | Approx. Monthly Repayment | Notes |
|---|---|---|
$0 | $1,240 | Highest monthly cost |
10% ($6,000) | $1,116 | Lower monthly cost |
20% ($12,000) | $992 | Balance of cost vs cash flow |
30% ($18,000) | $868 | Lowest monthly cost; plan to clear balloon |
Boat loan options explained
These features shape cost and flexibilityâpick what suits how you use your boat:
Secured vs Unsecured
Secured uses the boat as collateral for sharper rates. Unsecured can be faster and more flexible but usually costs more.
Fixed vs Variable
Fixed keeps repayments steady; variable can move with market ratesâpotential savings if rates fall, higher costs if they rise.
Balloon Payments
Lower monthly repayments by deferring a lump sum to the endâhave a plan to pay, refinance or sell.
Early Repayment Flexibility
Some lenders allow extra repayments or early payout with little/no penalty, helping you save interest.
Fees & Charges
Check establishment, monthly and exit feesâthe true cost is rate + fees + time.
Testimonials
Verified Review
Brad has been absolutely amazing to work with to help with financing for our business! The process was very simple, well explained and Brad went out of his way to provide updates - highly recommended!
Karn P.
Verified Review
Jackson was very helpful in getting me a loan for my daughters car. Very happy with the service he provided.
Rick D.
Verified Review
Matt @emumoney helped me get the best rate on a personal loan for our new car, and we are currently finalising sorting our business finances into one loan. Awesome service and responsive to requests.
Tim P.
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Kylie L.
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Highly recommend, process was simple and quick! very nice fella Jackson đ¤đź
Shayshay K.
Verified Review
I had an excellent experience with Emu Money as they managed my car financing process smoothly and quickly. They were extremely professional and proactive, making the entire process stress-free. From start to finish, Emu Moneyâs team ensured that everything was handled efficiently, keeping me informed along the way. I appreciate their responsiveness and dedication, which made the process seamless. Highly recommend Emu Money for anyone looking for a reliable and professional financial partner!
Zain R.
Frequently Asked Questions
Boat Loan FAQs
These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.
