Boat Financing Gold Coast


Boat Loans

For many living on the Gold Coast, spending time on the water is part of life. A boat is no small expense, and if you’ve been thinking about buying your dream boat, getting the right boat financing can turn your dream into a reality sooner than you think.

Whether you’re looking to spend more time on the water with family and friends, dreaming of pursuing your favourite water sports or wanting to start or expand your marine business, Our experienced brokers will work with you to find a competitive boat loan rate to suit your needs.

Boat Loans

Boat Finance on The Gold Coast

Entering into a boat finance agreement means a lender will loan you the money to purchase a boat. Depending on the agreement, you will pay off the loan in regular instalments, either weekly, fortnightly or monthly.

Generally speaking, boat financing works similar to car or vehicle financing. There are two types of loans that you can apply for: Unsecured or secured.

Boat Loans

Unsecured Boat Loan

Personal loans give you the freedom to take to the water sooner. Your lender will look at the strength of your cash flow to determine the amount they will loan you. As no asset is held as security against the loan, the loan is deemed unsecured. You can use an unsecured personal loan to purchase a boat as long as you clearly state its intended purpose on the loan in the application. Learn more about how we can help you get a personal loan.


Secured Boat Loan

Secured boat loans are specifically designed for boats or other marine vehicles. The key difference between personal and secured loans is that a secured loan uses Asset financing meaning the boat as collateral or security against the loan. As the lender has extra protection against the loan, interest rates are typically lower. However, if loan payments can’t be met, the lender may rely on the collateral to clear the remaining loan balance, interest or fees.

Use our repayments calculator to determine how much you will be able to borrow, which may inform the type of boat you can purchase.

Used vs New Boat Financing

We often get asked, can you finance a used boat? It might surprise you to learn that when it comes to boat or yacht financing, there is no difference between new or used. The age of the boat or marine vehicle will not affect your boat loan rate. 

Many of our clients choose to obtain finance for a used boat because it can usually be more affordable than buying a brand new boat. As every lender sets their own requirements regarding the condition of used boats, we have strong relationships with lenders and knowledge of their different conditions.

Whether through a second-hand dealership or a private seller, we can help navigate those requirements and secure your finance with favourable terms.

What To Consider When Looking At Used Boat Loans

You need to assess a few important benefits and considerations before purchasing a used boat.

Small Loan Amount

One of the biggest benefits->potential benefits of purchasing a used boat is the lower cost. Because a used boat costs less than a new one, you won’t have to borrow as much money. It’s important to only borrow what you need when looking to buy a boat or finance any other asset.

Check the Condition of The Boat

Before purchasing a used boat, we recommend asking for the service and maintenance records so you can check the condition of the boat. These records will give insights into how the boat has been cared for by the previous owner. It’s also common for the buyer to organise an independent inspection before making the final decision.

Ongoing Costs

Another benefit of purchasing a used boat is that you should be able to get an understanding of the ongoing cost. Ask the seller what onboard gear is included in the purchase and what is not, and also to share any hidden costs such as:

  •   Insurance and registration
  •   Fuel
  •   Storage and mooring
  •   Maintenance
  •   Boat trailers and winches

Commercial Boat Finance

The marine industry is full of opportunities but can often require significant investment. Commercial boat finance is an excellent option for any sized business with competitive terms and flexible repayment options.

Whether you’re a fisherman looking to expand your fleet, you work in life-saving and need a new surf rescue boat, or you conduct boat tours in the scenic Gold Coast waterways. We can find an option that suits your business needs while financing a boat that will help your business grow.

Commercial Boat Loans
boat loan gold coast

Chattel Mortgage

A chattel mortgage agreement is an excellent solution if you intend to use your boat for business more than 50% of the time. Similar to a car or home loan, a lender gives a business the funds to make the purchase, using the boat as security. Once the mortgage has been repaid, the boat’s title belongs to the business.

Advantages of Chattel Mortgage:

  • You own the boat from the moment of purchase
  • If registered for GST, you may be able to claim the purchase price
  • A balloon payment can be included
boat loan gold coast

Boat Finance Lease

A long-term lease for a high-value purchase, a commercial lease agreement is when a lender purchases a boat and leases it to a business over an agreed period of time. Once the lease has expired, the business can take ownership by paying off the remaining value or deciding to refinance the lease altogether.

 Advantages of Boat Finance Lease

  • Interest rate fixed for the term of the lease
  • Repayments could be tax-deductible
  • 100% funding with no equity allowed
boat loan gold coast

Hire Purchase

A Hire Purchase is an agreement where the lender purchases the boat and hires it back to the business for a fixed repayment over a set period. Once the final payment has been made, ownership transfers to the business.

Advantages of Hire Purchase

  • Takes the pressure of ownership during the hire term
  • If registered for GST, you may be able to claim the purchase price
  • May be tax-deductible
Wakeboard boat loans

Apply For Boat Loans on the Gold Coast

At Crest Lending we’re here to get you out on the water faster, and the best way we can do that is to help you get flexible and affordable financing. Expand your business fleet, upgrade to a yacht or finally purchase that fishing boat – it can all be done with the team here at Crest Lending. Contact us today to find a competitive boat loan rate on the Gold Coast.

Crest Lending Pty Ltd ABN 18 604 419 427 Credit Representative 477340 is authorised under Australian Credit Licence 389328 

Disclaimer: We recommend that you seek independent financial and taxation advice before acting on any information in this page. It contains general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. Interest rates are subject to change without notice. The lender’s terms, conditions, fees & charges apply.