Compare boat personal loans

Find personal loans from a wide range of Australian lenders that best suit your needs. Compare interest rates, repayments, fees and more. - Data last updated on 19 Jun 2018

Now showing 1 - 20 of 26 boat loans
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Unsecured Personal Loan (5 Year Term)
*Comparison rate is calculated based on a loan of $30,000 over 5 years.
Advertised Rate
9.78%
fixed
Comparison Rate
11.18%*
Monthly Repayment
$634
Upfront Fee
$350
Compare
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Unsecured Personal Loan (Excellent Credit)
Advertised Rate
From
6.99%
fixed
Comparison Rate
7.69%
Monthly Repayment
$594
Upfront Fee
$500
Compare
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Fixed Low Rate (Excellent Credit Rating)
Advertised Rate
10.99%
fixed
Comparison Rate
12.21%
Monthly Repayment
$652
Upfront Fee
$250
Compare
Low Rate Secured Loan
Advertised Rate
5.14%
variable
Comparison Rate
7.61%
Monthly Repayment
$568
Upfront Fee
$200
Compare
Unsecured Loan (Excellent Credit)
Advertised Rate
From
7.65%
fixed
Comparison Rate
7.65%
Monthly Repayment
$603
Upfront Fee
$0
Compare
Discounted Personal Loan
Advertised Rate
7.99%
fixed
Comparison Rate
8.35%
Monthly Repayment
$608
Upfront Fee
$250
Compare
Secured Personal Loan (Car < 2 Years)
Advertised Rate
7.99%
variable
Comparison Rate
8.97%
Monthly Repayment
$608
Upfront Fee
$200
Compare
Unsecured Personal Loan - Diamond (Excellent Credit)
Advertised Rate
8.50%
fixed
Comparison Rate
9.36%
Monthly Repayment
$615
Upfront Fee
$595
Compare
Excellent Credit Personal Loan - Fixed Repayments (Unsecured)
Advertised Rate
From
8.35%
fixed
Comparison Rate
9.61%
Monthly Repayment
$613
Upfront Fee
3%
of loan amount
Compare
Personal Loan Fixed Rate
Advertised Rate
From
9.50%
fixed
Comparison Rate
10.06%
Monthly Repayment
$630
Upfront Fee
$150
Compare
Secured Personal Loan (Car 2-7 Years)
Advertised Rate
9.49%
variable
Comparison Rate
10.46%
Monthly Repayment
$630
Upfront Fee
$200
Compare
Secured Fixed Standard Personal Loan
Advertised Rate
10.50%
fixed
Comparison Rate
11.13%
Monthly Repayment
$645
Upfront Fee
$200
Compare
Unsecured Personal Loan (NSW, ACT & QLD only)
Advertised Rate
11.45%
fixed
Comparison Rate
11.85%
Monthly Repayment
$659
Upfront Fee
$275
Compare
Unsecured Personal Loan
Advertised Rate
11.89%
variable
Comparison Rate
11.89%
Monthly Repayment
$666
Upfront Fee
$0
Compare
Unsecured Personal Loan Fixed
Advertised Rate
11.99%
fixed
Comparison Rate
11.99%
Monthly Repayment
$667
Upfront Fee
$0
Compare
Unsecured Loan (Good Credit)
Advertised Rate
From
10.99%
fixed
Comparison Rate
12.09%
Monthly Repayment
$652
Upfront Fee
3%
of loan amount
Compare
Unsecured Personal Loan
Advertised Rate
11.99%
fixed
Comparison Rate
12.81%
Monthly Repayment
$667
Upfront Fee
$195
Compare
Grade A SocietyOne Loan Fixed
Advertised Rate
From
11.50%
fixed
Comparison Rate
13.34%
Monthly Repayment
$660
Upfront Fee
4%
of loan amount
Compare
Secured Variable Standard Personal Loan
Advertised Rate
12.99%
variable
Comparison Rate
13.61%
Monthly Repayment
$682
Upfront Fee
$200
Compare
Unsecured Personal Loan
Advertised Rate
12.99%
fixed
Comparison Rate
14.14%
Monthly Repayment
$682
Upfront Fee
$250
Compare
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Boat loans

What are boat loans? 

Getting out on the water is a favourite pasttime for many Australians, but those who have their own boat are in the minority. Boat loans can help finance the purchase of a boat, either new or used and through a private or commercial sale. If you need a boat for business rather than just leisure, you can also find boat loans available for that purpose. These are personal loans and they work in the same way as loans for other purposes, such as buying a car or helping to fund a wedding.

Why do people use boat loans?

People use boat loans when they want to make a marine purchase but don't have all the capital finance available. Boats can be expensive so it's no surprise that you may need some additional funds to acquire what you want. Because of the high value you may find that this type of personal loan will offer a larger amount for you to borrow and you could also benefit from longer repayment terms. Depending on what sort of loan you get you may also have to make a balloon payment when the loan term finishes. 

What are the main features of boat loans?

If you decide to investigate a loan for your boat, you can look at secured or unsecured personal loans. If you choose a secured loan, one that has either the boat or another asset you own, such as a property or the boat itself, as collateral, you are more likely to be offered a lower interest rate. The lender has the guarantee that should there be a problem with repayments the boat or other asset could be sold to pay off the outstanding amount. If you negotiate for an unsecured loan, interest rates will in all probability be higher as the lender has no absolute guarantee of being paid back. It's also possible that the repayment time period will be less than for a secured loan and the amount you can borrow will not be as great.

Repayment options can be with fixed or variable interest rates and you may be able to get a deal whereby you can pay off the boat loan early without incurring a penalty. Always read the small print of a loan agreement to see what fees and charges there may be.

What are the pros and cons of boat loans? 

Boat loans are a useful way of getting the money you need for your purchase without having to wait until you have saved up enough. For an expensive boat that's not always an option so a personal loan that you budget carefully for can make the difference between owning a boat and not. On a variable interest rate bear in mind that your repayments may go up or down depending on movements in the financial markets, and that if you default on a secured loan you are in danger of losing the asset used as the guarantee.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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