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Leisure finance can be categorised under a personal loan. Some even view it as a type of personal loan. However, a personal loan is not usually classified as a leisure loan. You probably get the picture now. Personal loans can be used for a wide variety of purposes, including funding a car purchase, whereas leisure finance is strictly for leisure or recreational purposes.

Under leisure loans, you can buy a boat, jet ski, or caravan. Many Australians take out leisure financing, especially before the summer, when there are lots of opportunities for outdoor activities. It targets purchases relating to recreation, such as boating and water sports.

Not all lenders are willing to risk their business, so you will most likely find secured leisure loans. However, the good news is that a secured loan often means lower interest rates, particularly if you have an excellent to satisfactory credit history.

Usually, when a boat, caravan, or any other asset is involved, that specific asset will automatically serve as collateral or security for the loan. If you are certain that you will not miss any monthly repayments, a secured leisure loan is a good option.

It will depend on a few factors, including your financial circumstances, the security you are offering, and the strength of your accounts. That is why you need to provide proof of income and other requirements set by the lender. You can borrow up to 70 per cent of the leisure purchase, although the typical is around 50 to 60%. 

Make sure that you use our calculator to help you figure out how much you can borrow and comfortably pay each month. It’s free and does not obligate you to apply for a loan with us.

Yes, of course! You can choose the leisure or recreational vehicle that you would like to purchase from any seller. However, your application will still be assessed. Loans Unlimited specialises in providing finance help to those wanting to buy a new or used boat, jet ski, or caravan. You will benefit from hiring a finance consultant to assist you in liaising with the seller. Additionally, it will be easier to arrange supporting documents required by the lender.

Once you have found the perfect leisure craft for you, send in your application. We offer pre-approval, which lets you begin your purchase right away.

Loans Unlimited can help you, no matter what your situation and needs may be. We usually cater to those with established businesses or steady employment history. However, if you have just started a new job, lenders generally find you a risky borrower.

Still, it does not mean you cannot find a suitable option for your case. Typically, we look at your current employment status, along with your work history. Then, we will have to examine your credit history and other general details. Proof of income is needed so ensure that you can provide sufficient documentation. You can contact us for more information.

Our financial professionals are easily reachable on 1300 212 200. If you are a pensioner, there are surely some loan products that suit you. Here at Loans Unlimited, we always strive to assist people to live their dream. As a retiree, you probably want to spend some time on your own or doing what you love.

Unfortunately, it is not always easy to get approved for leisure financing from mainstream sources. That’s why we are here for you. Call us, and we can guide you to kickstarting your leisure finance process today.

If you go to the bank or a mainstream lender, it is often difficult to get approved if you have a bad credit history. This is what makes Loans Unlimited different. We are committed to helping everyone, including those who have less than desirable credit scores. Please remember, though, that while there are lenders that will be willing to work with you, they cannot give you attractive rates.

If you would like a cheaper leisure loan, you should first start fixing your credit history by paying your dues on time and in full.