There’s no guarantee that your dream boat will be waiting for you in the local marina. Sometimes, you have to look overseas. Whether you’re eyeing a luxury yacht in Europe, a classic cruiser in the US or a hard-to-find model elsewhere, international boat buying opens up a world of choice.
But can you actually get a boat loan for an overseas purchase in Australia? The short answer: it’s possible, but it’s not always as straightforward as buying locally.
Here’s what you need to know if you’re planning to go global with your next big float.
Loans Unlimited are partnered with over 40 lenders and plenty of them are willing to finance overseas boat purchases. But it’s important to understand that conditions are usually stricter that domestic loans. That’s because overseas purchases carry bigger risks – the lender can’t inspect the boat, the resale value can be hard to assess and transporting the vessel can be complicated.
Here are a few ways you can boost your eligibility:
Choose a boat that meets Australian registration and compliance standards
Provide a detailed purchase invoice or sales contract
Maintain a strong credit history and steady income
Pre-arrange shipping to Australia
If you’re hoping to keep the boat overseas on a more permanent basis, your options will be more limited. Get in touch with our crew to explore alternative boat lending structures.
It’s not just lenders who take on the extra risk in an overseas boat purchase. Before you go hunting for a bargain, it’s worth understanding the extra steps that can affect you:
Any vessel brought into Australia must comply with the Australian Maritime Safety Authority (AMSA) requirements and Australian Design Rules (ADR). If your boat doesn’t meet those standards, you’ll be required to either modify or register it as such. That can put a sizeable hole in your overall budget
Currency isn’t static – any exchange rate fluctuations may throw off your budget, especially is there’s a delay transferring funds. Don’t forget to factor in:
GST on imports (10%)
Customs duty (typically 5%, but it can vary)
Port and freight charges
Moving a boat internationally can be a big task, but we know you can do it! Just make sure you secure marine freight insurance and double check whether your lender will finance these costs.
It can be difficult to get a reliable valuation and inspection on an overseas vessel. Whichever company you choose, make sure they’re an accredited marine surveyor – that’s what lenders like to see.
Unlike general-purpose finance, specialised boat loans are purpose-built to consider the vessel itself. That means lenders assess value, condition and import intentions with boating in mind, not as an afterthought.
A tailored approach makes it easier to factor in elements like registration timing, marine survey reports and freight arrangements. Those are all standard parts that lenders want to see, so it’s important you get them right.
If you’ve got your heart set on a boat overseas, here’s how to keep the purchase and financing on track:
Map out a clear purchase plan, including costs, shipping details and timeline
Work with our crew for help with local compliance
Get all your documentation ready early (sales contract, import paperwork, marine survey)
Apply for pre-approval to get a better understanding of your borrowing power
If you prepare well, you give yourself the best chance of finding the right lender.
In short – yes! Working with Loans Unlimited, you can get a boat loan for an overseas purchase. We’ll help you match your dream boat and financial profile with a lender willing to help.
It’s not the smoothest route, but for the right vessel, it might be worth the voyage.
If you’re interested in a boat beyond Australian shores, our crew can help you map out your financing options. Click ‘Apply Now’ to start your pre-approval today!
