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Boat Finance

SocietyOne / Boat Finance


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Total repayment (inc. interest and fees)
Total interest
8.20% p.a.
Example interest rate*
8.27% p.a.
Comparison rate*

Boat Finance

Getting into boat finance may seem intimidating at first glance, but here’s a trade secret: if you qualify for a car finance loan, you likely qualify for boat finance options too.

There are various options for boat financing, which include credit providers, banks, Australian marine finance, and private sellers of registered boats. Financing options are varied as well – you could opt to finance your boat with a deposit or down payment and pay the remaining balance in instalments, or you could opt for full boat finance loans with fortnightly or monthly payments.

To help you get started with boat finance, here are some general tips to remember when you start canvassing for your dream boat.

What is the average cost for boat financing?

The average boat loan term depends on the boat.

Entry costs for boats vary greatly depending on the type of boat desired. Smaller boats, like sailboats or deck boats, start at $20,000, while the more high-maintenance boats like yachts or houseboats could cost as much as $200,000.

Generally speaking, the more luxurious your boat, the higher the entry pricing will be. Dinghy loan rates won’t compare with yacht loan rates.

Because boats are vehicles, you should also consider the other costs and fees involved, such as registration, licences (if you plan on using your boat commercially), and insurance coverage. You may also be required to pay monthly fees or additional taxes if you’re docking your boat at a port or jetty.

If you have enquiries about proceeding with your boat finance application, email us at or call us at either 1300 144 221 or 02 8397 9700 (Mondays through Fridays, 9.00 a.m. to 5.00 p.m. AEDT). Our customer support team will be more than happy to answer any questions you may have about the application process or requirements.

What is the longest loan term for boats?

At SocietyOne, we determine term lengths based on loan security. Secured loans require collateral for fund security, while unsecured loans don’t require it.

Secured loans are among the more common boat finance options you’ll encounter. Loans of this type require collateral, so if you intend to apply for a secured boat finance loan, you will be required to pledge an asset in order to obtain the loan.

The advantage of secured loans is that they have more competitive rates and terms overall.

SocietyOne’s secured loans have a loan floor of $5,000 that’s payable in two-, three-, five-, or seven-year terms, and the maximum loanable amount is $70,000. When applying for secured loans, our team may request copies of personal documents, like ID cards, utility bills, and payslips, for loan personalisation purposes.

If you prefer shorter loan terms, on the other hand, unsecured personal online loans may be the ideal boat finance option for you. Unsecured loans have no collateral requirement.

They’re also a good choice for first-time borrowers without any credit history, as they help build a credit profile within a relatively shorter period compared to secured loans. Our unsecured loans have the same loan floor as our secured loans, with a competitive $50,000 maximum loanable amount that’s payable for up to five years. Two-year and three-year term lengths are also available.

How difficult is it to get a new boat finance?

Getting a new boat finance loan can be as easy as completing an application in minutes and waiting for same-business-day loan disbursement. This is the typical turnaround at SocietyOne – and if your credit score is excellent, you’re likely to get a fairer and more competitive rate from us.

This also applies to our other vehicle financing options, including green loans, motorbike loans, and other unsecured car loan options.

Credit scores go a long way towards opening lending opportunities, and not just for boat finance loans. If you’re concerned that your credit score may be less than ideal for your needs, consider signing up for the SocietyOne Credit Score Club.

The Credit Score tool is a free credit resource we offer to new and returning SocietyOne borrowers. It’s powered by Experian as our credit reporting partner, so your credit scores are from official and regulated sources. Our Credit Score Club offers unlimited access to credit resources and insights that will help you identify problem points in your credit history, plus tried-and-tested advice on how to get your rating back to a healthier range.

Loans aren’t risky with responsible credit management – they can even be an effective financing tool. Join the Credit Score Club today; it’s obligation-free, so you don’t have to commit to a loan with us to take advantage of the service.

Discover new ways of maximising credit for personal achievements and lifestyle comforts. Whether it’s a wedding loan, a boat finance loan, or a holiday loan, SocietyOne aims to deliver the same award-winning credit products to you that thousands of satisfied clients have trusted since 2012.

With powerful tools like our personal loan repayment calculator and our Credit Score Club service, we expand on credit as more than just a financing means. You can also now invest in loans through consumer lending through SocietyOne.

Don’t let the stigma of loans being bad keep you from seizing opportunities right in front of you. As part of the MONEYME Group, we understand and respect what’s at stake when you take on a loan. Rest assured that your credit is in good hands with us, and apply for your first SocietyOne boat finance loan today.


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