Home - Boat Loans

Boat Loans

Set Sail on Your New Boat With

Responsive Lending


Loans from $5,000 to $100,000

Rates from 6.45%* APR

Getting a quote from us is cost and obligation free.

* Subject to suitability, affordability and verification

Am l Eligible to Apply?

To be eligible the following criteria applies:

  • Earning at least $450 per week;
  • You are over the age of 18;
  • You are currently employed, self employed or on an eligible pension;
  • You are an Australian citizen, or a permanent resident of Australia or New Zealand;
  • If you are on a Visa, you must have 2.5 or more years remaining on your expiry (PLEASE NOTE: We cannot assist those who hold a student Visa)
  • You maintain an Australian residential address


NOTE: These are the basic requirements to apply for any loan product with Responsive Lending. A full assessment is required to determine eligibility.

Boat Loans

Responsive Lending 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

Am l Eligible to Apply?

To be eligible the following criteria applies:

  • Earning at least $450 per week;
  • You are over the age of 18;
  • You are currently employed, self employed or on an eligible pension;
  • You are an Australian citizen, or a permanent resident of Australia or New Zealand;
  • If you are on a Visa, you must have 2.5 or more years remaining on your expiry (PLEASE NOTE: We cannot assist those who hold a student Visa)
  • You maintain an Australian residential address


NOTE: These are the basic requirements to apply for any loan product with Responsive Lending. A full assessment is required to determine eligibility.

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.

Why a Responsive Lending Boat Loan?

40+ Lenders

We have over 40 lenders on our panel who we work with to match you with a lender that will get you the best loan interest rate for your circumstances.

Great Low Rates

Our boat loan rates start from 6.45% and with our large lending panel, we're able to find the best loan rate for you!

Fast Approvals

Our brokers work tirelessly to get your loan settled in less than 5 days.

Paperless Application

Our application process can be done completely online. You can apply online, upload, and sign your documents directly from your phone or computer, ensuring a convenient and paperless experience.

Soft Credit Touch

Requesting a quote with us does NOT affect your credit score or leave an enquiry. Our process includes a soft credit check, which is part of our comprehensive credit assessment. This allows us to determine your eligibility for personal loans without impacting your credit score. 

Personalised Service

Our team of finance brokers are all Aussie based and work with you until your boat loan settles. Our customers receive tailored boat finance options that best suit their financial situations. 

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.

See What Our Customers Think

3 Steps to Your New Boat Loan

Step 1!
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!
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!
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

Secured Boat Loans

These loans use the boat as security, which can often result in lower interest rates and fees. If you’re looking for a cost-effective option, a secured boat loan might be the way to go.

Unsecured Boat Loans

These loans do not require any security, but they may come with higher interest rates and fees. This option is suitable if you prefer not to use your boat as collateral.

Fixed-Rate Boat Loans

With a fixed interest rate, your repayments remain the same throughout the loan term, providing you with repayment certainty and easier budgeting. Often, a lump sum payment is required at the end of the loan term.

Variable-Rate Boat Loans

These loans have an interest rate that can change over time. While they offer flexibility, they also come with potential risks as your repayments can increase if interest rates rise. A balloon payment, which is a lump sum required at the end of the loan term, can help lower your regular payments while maintaining cash flow.

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.

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're after, where you live and your income source(s).

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 a boat! You choose where you get it from!

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.

​Frequently Asked Questions

What does Credit History mean?

Excellent = 800 - 1,000 credit score with no defaults

Very Good = 800 -899 credit score with no defaults

Average = 500 - 799 credit score with 1 utility default

Poor = 200 - 499 credit score with 2 or more defaults or ex bankrupt or Part IX

* These examples are provided as a guide only. Each situation is different and a credit score is only one part of the assessment puzzle. Being specialists in our field, we pride ourselves on trying to help as many people as we can, no matter what their circumstances are.

What do your interest rates start at?

Our boat loan interest rates vary depending on your credit history, credit score, assets and liabilities. Our rates start as low as 6.45%, subject to the specified criteria above.

What documents do l need to apply?

Our application process is quick and simple. You will just need to have the following documents ready to upload to your broker:

  • Current drivers licence (back and front pic)
  • Two recent payslips
  • Last 90 days bank statement and if on Centrelink, a Centrelink Income Statement
  • If Visa holder, we require your current Australian Residency Identification (VEVO) check
Do you perform credit checks on all applications?

No, we don't perform credit checks on all applications.


In fact, our "soft" credit checks don't even leave an enquiry on your file!


We perform these "soft" credit checks so we can gather enough information to be able to direct your application to the lender/s we think will be suitable for your financial position.


If your application is then submitted to a lender, the lender will more than likely perform a hard credit check. This WILL leave an enquiry on your file. Just know that, we will not submit your application to a lender unless we have discussed it with you and you have agreed to it.

Why are your rates cheaper than the big banks?

As a finance broker, we put a large volume of applications to lenders. Because of this, lenders offer our group wholesale interest rates. It's like shopping at Costco, without the need to buy 400 packets of pasta.


We also get the benefit of being completely independent from the finance companies. This allows us to shop around from multiple lenders to get the best deal. Lenders often fluctuate their interest rates based on the amount of capital they have available to lend, so in respect we can often negotiate great deals with cashed up lenders.

Can l finance a private sale?

Yes, we can finance private sale boats.


When you've put through your application, just let us know that you're looking to finance a boat from a private seller and we can ensure that we only use lenders that will help.

How much can I borrow for a boat loan?

Our boat loans generally range from $5,000 to $100,000, though some customers may qualify for higher amounts depending on credit history, financial situation, and the value of the boat. 

Our team will match you with a lender from our panel of 40+ lenders that best aligns with your borrowing needs.

Do I need boat insurance to secure a loan?

While it’s not always mandatory, many lenders strongly recommend having comprehensive boat insurance. This protects both you and the lender’s investment against potential damage, theft, or accidents. 


Our Aussie‐based brokers can advise you on whether your chosen lender requires insurance, or if it’s merely advised for peace of mind.

Is my loan secured or unsecured?

Secured boat loans use your boat as collateral, potentially offering lower interest rates. 


However, if you don’t want to use the boat as security or you don’t meet certain criteria, unsecured loans may be available (but often with higher interest rates). We’ll help you choose which option fits your budget and circumstances.

Can I make extra repayments or pay out my boat loan early?

Yes! Many of our lenders allow additional repayments and even early loan settlements without penalty. 


We’ll work with you to find a product that provides the flexibility you need if you plan to pay off your loan sooner than expected.

Can I refinance an existing boat loan?

Absolutely. If you already have a boat loan and want to look for a better rate or more favourable terms, refinancing may be an option. 


Our brokers will compare multiple lenders to see if you could save on monthly repayments or total interest costs.

What if I’m new to boating—does that affect my loan eligibility?

Being new to boating typically has little impact on your eligibility, as lenders focus more on your financial profile, income, and credit score. 


Having a specific boat in mind and a rough idea of the purchase price does help streamline the application, though.

How quickly can I get approved and receive the funds?

Thanks to our paperless application and soft credit checks, many customers receive a conditional approval within 1–2 business days. 


After you submit all required documents, final approval and funding can often occur in under a week, though this varies depending on the lender and complexity of your application.

Are there any fees or charges I should know about?

We aim to be transparent with all fees from the outset, including establishment fees or monthly account fees if applicable. 


We’ll make sure you’re aware of any costs before you commit, so there are no surprises down the line.

What is the difference between a boat loan and boat finance?

Both terms are often used interchangeably, but there can be a subtle distinction:

  • A boat loan generally refers to a specific type of secured personal loan, where the boat itself is used as collateral. This means if you default on the repayments, the lender may repossess the boat.

  • boat finance is a broader term that can encompass various financing solutions, such as unsecured personal loans, chattel mortgages, or hire purchase arrangements. It may or may not require your boat to be offered as security.


Ultimately, the best option for you depends on factors like credit score, deposit, and whether you prefer a secured or unsecured arrangement. A finance broker can help you decide which structure best suits your circumstances.

How do boat loans work?

Boat loans work by providing you with the funds needed to purchase a boat, whether new or used. The loan application process involves submitting necessary documents such as proof of income and identification. 


Eligibility criteria include a credit assessment, which impacts your loan eligibility and terms. Loan amounts vary based on personal circumstances and credit history. You can choose between a secured loan, which uses the boat as collateral, or an unsecured loan.


It's important to consider extra costs associated with purchasing a boat. Comparison rates help you understand the overall cost of the loan, including fees and charges. The purchase price of the boat influences the loan conditions, and you have the flexibility to pay off the loan sooner without exit fees.

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