Sale Hire Back

A "Sale Hire Back" occurs where a finance lender provides a loan or finance facility for the financing of a boat that you already have ownership of. This type of loan can take the form of a commercial hire purchase, chattel mortgage or a lease and can be referred to as a 'saleback', 'hireback or 'leaseback' depending on the structure you choose

Taxation implications for a sale hire back

How you account for the GST and Tax and how you claim the loan as an expense will depend largely on the structure you have chosen the loan to take, you can refer to our pages on the other loan types to learn more about this

Sale hire back terms

Terms generally range from 12 to 60 months (occasionally longer), repayments are made in advance and can be made monthly, quarterly, bi-annually, or yearly.

Who does a sale hire back suit?

A Sale Hire Back may suit someone who has just bought a boat and was forced into making a quick settlement with their own money. In this case the sooner you apply for a sale hire back loan the better chances of success you have. There are also options for someone who is looking to raise cash for working capital or to pay off or consolidate some existing debts using a boat they may have owned for quite some time.

Many banks or brokers don't deal in boat finance yet alone boat sale or hire backs so just because you have been refused elsewhere doesn't mean you are not eligible for this type of finance for your boat.

Which boat loan option is right for you?

Deciding on the right Boat finance option for your situation can sometimes be confusing, Commercial Hire Purchase, Chattel Mortgage, Boat Lease are just a few of the boat financing options, Platinum Direct Finance can assist with your decision making and make the process simple and easy. Use our "Which boat loan product is right for you?" today!

Why use Platinum Direct Finance?

The Platinum Direct Finance group of companies will finance over 800 million dollars worth of equipment and car finance this year! Due to this volume and buying power, we can give our clients access to the best boat finance rates and boat financing products across Australia.

Need further information?

Either complete the friendly boat finance enquiry form and one of our boat finance experts will contact you shortly or talk to an experienced finance consultant on 1300 554 553.