Calculate your jet ski loan repayments instantly. Adjust the loan amount, interest rate, term, balloon payment, and repayment frequency to see what your repayments could look like.
| Frequency | Repayment | Total interest | Total cost |
|---|---|---|---|
| Weekly | $85.04 | $4,110 | $22,110 |
| Fortnightly | $170.19 | $4,124 | $22,124 |
| Monthly(selected) | $369.30 | $4,158 | $22,158 |
Switching from monthly to weekly repayments could save you $48 in interest over the life of this loan.
A used or entry-level jet ski in this range is a popular starting point. At $10,000 over 3 years at 8.5%, monthly repayments are around $315. A shorter term keeps total interest under $1,400 and avoids negative equity as the jet ski depreciates.
New three-seater models from major brands sit in this range. At $20,000 over 5 years at 8.5%, monthly repayments are around $410. Consider a 4-year term if you can afford slightly higher repayments to save on interest and stay ahead of depreciation.
High-performance stand-up models and top-spec touring jet skis can exceed $25,000. At $30,000 over 5 years at 8.5%, monthly repayments are around $615. A small balloon payment can reduce repayments, but factor in the jet ski's resale value at term end.
A jet ski trailer costs $1,500 to $4,000 and comprehensive insurance runs $300 to $800 per year. Some lenders let you bundle the trailer into the loan. Factor these costs into your total budget so the repayments remain comfortable alongside ongoing ownership costs.
Lenders assess your ability to service the loan based on your income, existing debts, and living expenses. They want to see that repayments are affordable for you.
Your credit score and repayment history influence the rate you are offered. A stronger credit history generally means access to more competitive rates.
For secured jet ski loans, the age, condition, and value of the watercraft matter. Most lenders have maximum age limits (e.g. no more than 10-12 years old at the end of the loan term) and may require proof of registration.
Most secured lenders require comprehensive marine or watercraft insurance for the duration of the loan. This covers damage, theft, and third-party liability. Factor insurance into your total cost of ownership.
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Jet ski finance interest rates in Australia typically range from 6.5% to 14% p.a. depending on the lender, your credit profile, the age of the jet ski, and whether the loan is secured against the watercraft. New jet skis purchased from a dealer generally attract lower rates than private sales of used models. Secured loans where the jet ski is used as collateral are usually 1-3% cheaper than unsecured personal loans. The rate used in this calculator is for illustration only. Your actual rate will depend on your circumstances and the lender.
Yes. Most asset finance lenders and brokers can arrange finance for used jet skis, though age limits apply. Lenders typically require the jet ski to be no older than 10-12 years at the end of the loan term. The condition and service history of the watercraft also matter. Used jet skis may attract a slightly higher interest rate than new models, and some lenders require a minimum loan amount of $5,000 for marine assets.
Most borrowers choose a 3 to 5 year term for jet ski finance. Jet skis depreciate faster than cars or boats, so a shorter term helps avoid owing more than the jet ski is worth. A 3-year term means higher repayments but less total interest and you build equity faster. A 5-year term lowers your repayments but costs more overall. Terms beyond 5 years are available but generally not recommended for jet skis due to depreciation.
Many lenders offer jet ski finance with no deposit required, financing up to 100% of the purchase price. However, putting down a deposit of 10-20% can reduce your repayments, lower the interest rate offered, and reduce the risk of being in negative equity. A deposit also strengthens your application if your credit history is limited.
Only if the jet ski is used for income-producing purposes, such as a hire or tour business. Interest, depreciation, and running costs may be deductible in those cases. A jet ski used purely for personal recreation is not tax deductible. If you use the jet ski partly for business, you may be able to claim a proportional deduction. Consult a tax professional for advice specific to your situation.
A balloon payment is a lump sum due at the end of your loan term. It reduces your regular repayments because you defer part of the principal to the final payment. For example, on an $18,000 jet ski loan with a 20% balloon, your regular repayments are calculated on $14,400 but you owe $3,600 at the end. Balloon payments can make repayments more affordable, but you need a plan to pay the lump sum at maturity, whether through savings, refinancing, or selling the jet ski.
Results are estimates only and should not be relied upon for financial decisions. Actual jet ski loan repayments will depend on the lender, your credit profile, and the specific terms offered. Interest rates used are for illustration purposes only and may not reflect current market rates.
Subject to lender approval, terms and conditions apply.
This calculator is general information only and is not financial advice.