Written by Being out on the open water brings with it a sense of calm, in many ways being the ultimate getaway for the busy Australian. If you're looking to join the That’s where Savvy can help you. We’re partnered with a range of reputable lenders who specialise in helping Australians like you secure finance for the boat or leisure craft you’re after with minimal fuss and maximum satisfaction.
With the help of a member of our finance consultant team, the heavy lifting can be done for you on your boat loan application, with the entire process taking place online and handled by experts. We can help you source and purchase your next boat whether brand-new from a dealer or used in a private sale. You can get the boat finance process started with us today by taking out a free, no-obligation quote.
Why compare leisure loans with Savvy?
Once you tell us about yourself and the loan you're after, we'll compare offers for you and prepare your formal application.
We're partnered with some Australia's leading lenders to bring you a range of competitive offers to compare in one place.
We're a Platinum Trusted Service Award winner with Feefo and our rating of 4.9 stars our of 5 shows our customers' satisfaction.
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Savvy is rated 4.9 for customer satisfaction by 616 customers.
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Common queries about boat loans
Which types of boat can I finance?
There’s a wide range of boats for which you can get a loan approved through Savvy. Whether you’re looking for a sailcruiser, yacht, dinghy, motor cruiser, powerboat, keelboat, trailer sailer or anything else, you can apply for finance through us today.
Can I still get approved for a boat loan if I have bad credit?
We may be able to help those who have struggled with their credit in the past get approved for boat finance. You can speak with your consultant about what your available options are if you find yourself in this position and want to purchase a vessel to hit the water on.
How do I work out how much my repayments cost?
There are many variables which help determine the cost of your repayments, such as the size of your loan, the length of your term and your interest rate. However, you can quickly and easily work out what these may be by using Savvy’s boat loan repayment calculator. This enables you to input all the above variables, as well as how often you’ll make repayments, to provide an estimate of how much your loan may cost you per instalment or overall.
How should I compare boat loans?
There are several key areas you should look at when comparing boat loans, which your consultant will also look at for you. These include:
- Interest rates
- Fees
- Available loan terms
- Minimum loan amount
- Vessel eligibility criteria
- Applicant eligibility criteria
Can I apply for a boat loan if I’m self-employed?
You can still qualify for a loan to purchase a boat if you’re self-employed, provided you can supply all the documents required to verify your income. Because self-employed individuals generally don’t receive payslips, you’ll typically be asked to provide the last one to two financial years’ worth of tax returns to display your earnings.
Will I be able to take out a boat loan if I’m retired?
We may be able to help applicants who have retired and are looking for finance for a boat, provided the income you’re receiving is stable enough to support your repayments. Some of our lending partners accept the aged pension as a source of income, so your consultant can help you find a suitable loan for your needs.
