Home - Boat Loans
Boat Loans

Loans from $5,000 to $100,000*
Rates from 6.45%* APR
If you're dreaming of owning a boat but need a bit of help with your finance, Responsive Lending can help*. We don't have any buried treasure, but can help your nautical dream come true. Let us help you navigate the seas of financing so you can set sail on your very own vessel!
We're independent and proud of it.
Getting a quote with us is cost and obligation free.
* Subject to verification, affordability & suitability
What is a Boat Loan?
A boat loan is a type of personal loan specifically designed to help you purchase a new or used boat or personal watercraft. Whether you’re after a sleek speedboat or a second‐hand fishing vessel, this loan provides the financial support you need to get on the water as soon as possible. The boat loan application process is typically hassle-free, allowing you to quickly access the necessary funds.
With a boat loan, you can access the necessary funds to buy your desired watercraft, and repayment terms can be tailored to suit your unique financial situation. Boat loan terms can vary significantly among lenders, typically ranging from three to ten years, with shorter terms leading to higher regular payments. These loans can be either secured or unsecured, with interest rates and fees varying based on the lender and your credit history. Having a good credit score, generally 550 and above, can help you secure more favourable loan terms.
Boat Loan Repayment Calculator
Use our Boat Loan Repayment Calculator to estimate your repayment plans by adjusting variables such as amount to borrow and loan length. The comparison rate helps you understand the costs associated with different loans, providing a clear picture of various loan options. It's crucial to understand the total cost of the loan, as it includes all factors that influence your overall expenses.
Boat Loan Repayment Calculator
Boat Insurance
When taking out a boat loan, it’s essential to consider boat insurance. This insurance provides financial protection against unexpected events such as accidents, theft, or damage. You can purchase boat insurance separately or as part of your boat loan package. In many cases, lenders may require you to have comprehensive insurance coverage for the boat to safeguard their investment. Ensuring you have the right insurance means you can enjoy your adventures with peace of mind, knowing you’re protected against unforeseen circumstances.
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3 Steps to Your New Boat Loan

Step 1
Use our online application form to apply for your boat loan in under 3 minutes! The application form will ask you questions like what type of vehicle you are after, where you live and what your income source(s) is.

Step 2
Speak to our team. Our team will call you to discuss your requirements and get to work to match you with the best lender for your circumstances.

Step 3
Once you're pre-approved, it's time to find your boat! You choose where you get it from!
Types of Boat Loans
When it comes to financing your new or used boat, there are several types of loans to consider
By understanding the different types of boat loans, you can choose the one that best fits your financial situation and personal objectives. Additionally, there are various repayment options available, tailored to meet individual customer needs and financial goals.
Budgeting & Tips Before You Apply
If you’re dreaming of setting sail or cruising along the coastline, proper planning is key. Make sure to evaluate your savings when planning your budget.
Understanding the importance of regular repayments can help you manage your budget effectively. Make sure to factor in monthly repayments, ongoing boat maintenance, marina fees, and insurance premiums when evaluating your budget.
Whether you’re opting for a secured boat loan or an unsecured option, comparing rates across multiple lenders can help you find terms that fit both your lifestyle and your finances. Consider how you’ll use the boat—occasional weekends, frequent fishing trips, or extended liveaboard cruises—to ensure you borrow an amount that’s right for your needs.