Wondering what your boat repayments might look like? Designed for buyers in Australia, our boat loan finance calculator is perfect for you!
Whether you’re after a little tinnie for weekend fishing or a cabin cruiser for long getaways, use this tool can help you plan your marine finance. Change the price, loan term and your deposit to see what structure best suits you.
Before you get started, we’ve broken down a couple of sample repayment scenarios to give you a hand. They’re based on popular boat types in WA, average prices and a 6% interest rate, but you can adjust the figures in line with your own plans.
Lightweight, reliable and easy to launch, tinnies are the go-to for casual fishers and solo boaters all around WA. Their lower price point makes them ideal for short-term loans with minimal upfront cost. If you were looking to purchase a tinnie, your loan could be structured like this:
Price: $12,000
Deposit: $2,000
Loan Amount: $10,000
Loan Term: 3 years
Estimated Repayments: ~$310/month
Small but sturdy, these aluminium boats are perfect for weekend fishers, first-time owners or solo trips around local estuaries and rivers. Because of their lower price point, Loans Unlimited can secure you a manageable and short tinnie loan with one of our 40+ lending partners.
Bowriders are the weekend all-rounder. They’re comfortable enough for cruising and powerful enough for towing. Here is a possible loan structure:
Price: $35,000
Deposit: $5,000
Loan Amount: $30,000
Loan Term: 5 years
Estimated Repayments: ~$580/month
Bowriders are ideal for families who want a mix of cruising and water sports. These boats tend to be larger, with more power and seating, so you may want to include trailers and electronics in your final application. Just know that this may mean a longer loan term if you want to keep your repayments manageable.
With high horsepower and plenty of deck space for your fishing gear, these are built for serious ocean runs. Because they’re so powerful, centre consoles tend to command a higher loan amount. But with a decent deposit, you can find a loan something like this:
Price: $50,000
Deposit: $10,000
Loan Amount: $40,000
Loan Term: 6 years
Estimated Repayments: ~$670/month
If you’re a serious fisher who needs a strong hull, high clearance and navigation tech, a centre console might be the boat for you. Make sure you budget properly before you buy – on top of your loan repayments, you’ll have operating and maintenance fees to cover too.
With sleeping quarters, shade and more onboard equipment, cabin cruisers suit buyers looking for overnight or long-distance relaxation. But they’re a big financial commitment, so take extra care and consult our crew when you plan your loan term. A loan for a cabin cruiser might look something like this:
Price: $80,000
Deposit: $15,000
Loan Amount: $65,000
Loan Term: 7 years
Estimated Repayments: ~$950/month
A cabin cruiser lets you mix lifestyle with leisure as you set off on an overnight trip along the WA coast. Although they may be a bigger investment, proper planning and a longer loan term won’t leave you with a blackhole in your budget.
Before you dive into boat listings, take a minute to run the numbers. Our boat loan calculator is designed for buyers in Australia and will help you figure out what your repayments will look like. Just enter the following details about the boat you would like to buy or find:
Asset type (select “Boat”)
The price of the boat
Your estimated deposit
Your desired annual interest rate
Your preferred loan term
If you’re hoping to bundle a trailer or extras, be sure to include them in the price of the boat.
Once you’ve entered your details, you’ll instantly see an estimated repayment amount. Use this number to budget your marine finance or, if you’re unhappy with the results, change a few figure to test different scenarios. Once you’re satisfied, get in touch with our team and they’ll guide you through each step of the application process.
Marine finance isn’t one size fits all. That’s why we developed our boat loan calculator, so you can estimate and compare countless different scenarios. Along with some help from our crew, you’ll set yourself up to borrow smarter and buy with confidence.
Once you’ve got you ideal loan, hit ‘apply now’ and our crew will get to work sending your boat-owning dreams into orbit!
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.
