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Life is too short to not enjoy your free time. Whether you'd like a boat to go fishing, a Harley Davidson to cruise or a caravan for weekend adventures, it can be secured with a leisure loan.
Leisure loans are fairly similar to car loans. The loan is secured to the asset (such as a boat) that you finance. That means the funds you've been approved for can only be used on that leisure item and your repayments go towards paying it off. Leisure finance is different to a personal loan. That means you can't take your approved finance and spend on whatever your heart desires.
Types of leisure loans
There's a few different items that are classified as leisure. They are most commonly:
If you're looking to secure finance for a more extreme toy such as a go kart or drag racing vehicle it's more likely to be classed as a personal or even business loan pending how you use it. The good news is Savvy can still assist you with financing for it.
Why compare leisure loans with Savvy?
Have the hard work done for you
Once you tell us about yourself and the loan you're after, we'll compare offers for you and prepare your formal application.
Trusted lender panel
We're partnered with some Australia's leading lenders to bring you a range of competitive offers to compare in one place.
Award-winning service
We're a Platinum Trusted Service Award winner with Feefo and our rating of 4.9 stars our of 5 shows our customers' satisfaction.
Are leisure loans more expensive than car loans?
Yes – leisure finance rates are usually higher than those offered on car loans. As of March 2025, Savvy has car loan rates starting from 5.94% p.a. The best rate available for leisure loans begins at 6.74% p.a.
You can see the difference in what you’d expect to pay with each loan in the following table:
| Loan type | Loan amount | Interest rate | Loan term | Monthly repayments | Total cost |
|---|---|---|---|---|---|
| Leisure loan | $30,000 | 6.80% p.a. | Five years | $592 | $35,473 |
| Car loan | $30,000 | 6.00% p.a. | Five years | $580 | $34,800 |
The above rates are for illustrative purposes only and do not necessarily reflect the rate you will be offered on your leisure or car loan.
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Leisure loan FAQs
When you apply with Savvy, you’ll fill out our online application form and supply documents that show your income and bank activity. Our consultants will use this information to determine how much you can be approved for with one of our lending partners. They’ll give you a call to discuss your finance options after you apply.
Yes – we’re partnered with specialist lenders who can work with you even if you’ve struggled with your credit score in the past. Your consultant will seek out the best available solution for your needs!
Yes – as long as you meet all the eligibility requirements and can supply evidence of a reliable income, you’ll qualify for a loan as a business owner!
No – we can help you finance used leisure crafts or vehicles purchased through private sales as well. They’ll still need to meet your lender’s requirements in relation to age and condition, though.
Pre-approval is a conditional approval from your lender on the terms they’d be willing to offer. For example, your pre-approval for a motorbike loan will show your borrowing power and indicative interest rate. Using this information, you can set yourself a budget and have an idea of how much it’ll cost each week, month and overall. Pre-approval can also give you the upper hand in price negotiations, as it sets a clear ceiling for your spending.
