Buying your first boat is exciting, but there’s plenty you have to think about. Boats can come with a few extras and a few surprises, so it’s always a good idea to lay out a solid plan before you commit to anything.
Loans Unlimited has the perfect tool to help you chart your course: a boat loan calculator designed for buyers in Australia. Along with some advice from our trusty crew, it will help you take the gravity out of a big financial decision and get you one step closer to that fishing trip in Exmouth.
Here’s how you can get the most out of it.
Boat loans aren’t just for full-time city workers or dealership buyers. With access to over 40 lenders, Loans Unlimited can help a wide range of people get marine finance. That includes:
FIFO workers
Rural residents
People buying privately
Buyers looking to bundle trailers, accessories and upgrades (just ask!)
If you’ve got a regular income and you’re buying a vessel that’s in decent condition, there’s a good chance we can help. Whether you’re paid PAYG, on casual wages, are self-employed or somewhere in between, our lenders can offer a lightning speed approval for your application.
If you’re in Western Australia, using our boat finance calculator is simple and only takes a minute, just follow these steps:
Step 1: Select ‘Boat’ from the ‘Asset Type’ dropdown menu
Step 2: Enter the total price of the boat you’re looking to purchase. Include any add-ons or upgrades if they’re a part of the purchase.
Step 3: Add your estimated deposit, if you have one.
Step 4: Enter your desired annual interest rate.
Step 5: Choose your preferred loan term (the length). You can specify to the month and choose anything between 1 and 7 years.
After that, your estimate should appear instantly. If you like what you see, get in touch with a member of our crew and they’ll get the ball rolling.
If you’re not so happy, try updating the numbers to test a few different scenarios.
Your loan repayments are only part of the picture. First-time boat buyers should also budget for:
Registration and trailer licensing
Insurance (some lenders require it)
Servicing, fuel and routine maintenance
Safety gear and optional extras
Using the calculator lets you set a base budget, so you can figure out how much you have left for the fun stuff. When you combine the cost of everything you’re looking for, you’ll find the real cost of ownership.
Now that you know your budget, you can narrow your search down to boats that suit it. Essentially, you’ve minimised the risk of a boat-shaped black hole appearing in your monthly budget.
It also shows lenders that you’ve done your homework. They’re much more willing to work with borrowers who have a firm understanding of what they can and can’t afford.
Using a boat loan calculator isn’t just helpful for planning – it sets you up for a quick and easy application. When you’ve already worked out what fits your budget, you’re less likely to apply for more than you can comfortably repay. That makes lenders more likely to say yes.
With a clear repayment plan, you can move fast once you find the right boat. You’ll have realistic expectations around the interest rate and term and be ready to submit a complete and accurate application. That allows our crew to move faster and avoid the delays that can hold you up later down the line.
Designed for everyday boaters in Australia, our loan calculator is one of the most helpful financing tools you can use. It will give you a proper idea of what you’re willing to spend, which helps our crew get you a same-day approval with one of our many lenders.
Fill out our 5-minute form and explore the loans universe with a clear path in mind.
Loans Unlimited are Perth and Western Australia’s premier loan and finance brokers. We have helped thousands move towards their financial goals by offering lower rates and faster approvals when it matters. Financial services are provided by Total Biz Pty Ltd T/A Loans Unlimited ABN 78 624 937 882 ACL 506875.
* The comparison rate shown is for a secured loan amount of $30,000 over a term of 5 years based on monthly repayments. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Any calculations or estimations do not constitute an offer of credit or a formal credit quote and is only a calculation of what you may be able to achieve based on the information you have entered. It does not take into account suitable product features or loan product types. Rates + repayments shown are based on user inputted data. All applications for credit must be verified prior to the formal assessment process. All applications for credit approval are subject to lender credit approval. Approval is not guaranteed.
