Boat Loans

A boat loan is a type of personal loan created to help you buy a boat or other type of vessel. Handy Finance Boat Loans are secured and have a term of one to seven years. No deposits are required to secure your loan – all you need to do is apply online, and our team will send you an indicative decision within minutes. 

Our boat loans also consider your financial circumstances, providing you with an interest rate tailored to your situation. Most customers use their Handy Finance Boat Loans to buy a brand new or secondhand boat. You can also use the boat loan to refinance your existing loan for a better rate.

With a Handy Finance Boat Loan, you can borrow between $2,001 and $75,000 and take advantage of flexible loan terms, ranging from one to seven years. Our boat loans offer a competitive interest rate and are fixed: this means you can expect a regular and consistent repayment sum over the terms of your loan. Tailoring repayment schedules to align with your financial situation means we can make managing it easier for you. Boat loans can be used on a range of new and used vessels, too – fishing boats, houseboats, and yachts are all examples of what you can buy with your boat loan. There isn’t a vessel age limit that you need to consider, which can open up a lot of options.

When you apply for a boat loan with Handy Finance, our team will need proof of identity (passport or driver’s licence), proof of income (such as recent bank statements) and any other loan or credit card statements.

You can get pre-approval on a Handy Finance Boat Loan. This means our loan experts will check your financial situation and give you an idea of how much you can borrow, all before you go boat shopping. You can apply for pre-approval online, and the pre-approval terms last for three months. Pre-approval can be helpful in giving you a realistic idea of your budget while shopping for your boat. At Handy Finance, you need to submit an online application with all the relevant documentation and details to get pre-approval for a boat loan.

At Handy Finance, we offer secured boat loans of up to $75,000. This sum will go towards purchasing the new or secondhand boat you’ve had your eye on. If there are extra funds left over after the purchase of your boat, you can spend this money on other boat-related purchases, such as safety or general boat equipment, maintenance for an existing vessel, or other regular costs like mooring or fuel. The main purpose of your boat loan should always be to buy a boat.

If you need a loan just for boat-related purchases, there may be a better Handy Finance loan for you – speak to our team about your plans, and they’ll be able to point you towards the right product. 

Before finalising any loans, Handy Finance will do a credit check to assess your financial history. Once this check has been run, our loan experts will receive your credit score. A credit score affects your interest rate and how much you’ll be approved to borrow for your boat loan.

Note that you can request a personalised quote before you apply for your boat loan. This step doesn’t require a hard check, so it won’t affect your credit score. Getting a personalised quote can be helpful in understanding what your borrowing power might be.

The eligibility criteria you need to meet to apply for a boat loan are:

• Be 18 years of age or older
• Be an Australian citizen or permanent resident
• Have a regular source of employment (including self-employment)
• Have no outstanding or unpaid defaults
• Have no history of bankruptcy or be party to a court judgment

Our aim at Handy Finance is to provide a smooth and easy pathway to your maritime dream. If you have any questions on whether you’re eligible for one of our boat loans, contact our credit team today.

All boat loans from Handy Finance are secured, and their main purpose should be to finance the purchase of a brand-new or secondhand boat. You can use the boat loan for other related expenses – like maintenance, upgrading safety equipment, or fuel and mooring costs – as long as the main purpose is to buy a boat. 

All boat loan applications with Handy Finance are assessed by our experts on a case-by-case basis, so it is always important to provide as much information in your application as possible. 

Remember, if you need a loan for boat-related expenses, we can still help you! Contact our team today to explore the different personal loan options available at Handy Finance. 

Boat loans cover a range of water vessels – speedboats, yachts, fishing boats, houseboats and jet skis. 

Before you decide on the type of boat you’d like to finance with your loan, it’s a good idea to review your current expenses. This will give you a good sense of how much you can afford in repayments. Remember, always include a smaller buffer for unexpected costs.

This helps set a limit as to what types of boats you will be able to afford.

Traditional bank lenders tend to have higher operating costs, resulting in higher rates. Handy Finance keeps rates low by keeping operating costs down and remaining focused on our mission – allowing people to live life to the fullest.

Fixed-rate loans are completely transparent from day one – because the rate doesn’t change, you know exactly how much you will be repaying and how often for the entirety of your loan.

Handy Finance will offer you an interest rate based on your personal credit history and situation. You can find your personalised rate in just a few minutes with our free quote. Please note that this rate is just an estimate, and it won’t affect your credit score.

With Handy Finance, you can repay most personal loans for up to seven years. Repayments are made weekly, fortnightly or monthly. 

Repayments on Handy Finance loans can be made weekly, fortnightly or monthly. You must use direct debit for all scheduled repayments. To make repayments ahead of schedule, log into your borrower dashboard and do so using BPAY.

If financial hardship is making repayments difficult to meet, please contact the Handy Finance team at 1300 990 115 or [email protected]

Boat loans from Handy Finance range between $2,001 and $75,000, depending on how much you need, your income and your credit rating.