Secured Boat Loans
A secured boat loan is a typical consumer boat Loan which is used by an individual to purchase a boat for private use. The boat is encumbered by the financier and you'll also be protected from any interest rate rises as the rate and your regular monthly repayments are fixed, so you can easily budget for your repayments each month. This facility falls under the consumer credit code (UCCC) where the interest rate, commission and other fees are disclosed on the contract. All consumer credit conditions apply to this type of boat loan.
Who does a secured boat loan suit?
A Secured Boat Loan is designed for those who wish to finance a boat for private use. The finance lender funds the full or part purchase price of the boat. This finance option also allows the borrower to finance their boat dealer costs as well as any government costs
Secured boat loan features
- Low establishment fees
- Flexible contract terms from 1 to 5 years
- Fixed monthly repayments for the term of the agreement
- Fixed interest rate for the life of the loan
- A balloon or residual payment can be added as a final payment to reduce the monthly repayments
- Deposit or a trade-in may be used
- You can obtain pre approval before you go shopping
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.