Jet ski finance rates
Rates correct as of 20 August 2026. Rates are based on a $30,000, five-year loan term. Your actual interest rate will depend on factors including your credit history, financial position, the vessel being financed, loan amount, term and the lender's assessment criteria.
What's a good interest rate for jet ski finance?
The lowest available jet ski loan interest rate through one of Savvy’s lending partners is 6.95% p.a., as of July 2026. However, the average interest rate Savvy customers received across the 2025-26 financial year was 11.03% p.a. That’s not to say that you can’t get the lowest rate on your jet ski, of course, but rates aren’t always straightforward.
In practice, there’s a variety of factors that influence the interest rate you’ll be offered on your jet ski loan. This means that the best rate available to you might be higher than one person’s or lower than another’s. These factors include:
- Income and salary
- Job stability and employment history
- Credit score and borrowing history
- Jet ski model, age and condition
- Loan amount and term
- Existing property and asset ownership
What is a jet ski loan?
A jet ski loan is a type of asset finance that lets you borrow money to buy a personal watercraft and repay it, plus interest, in regular instalments over an agreed term. It works in much the same way as a car loan, just tailored to jet skis and other personal watercraft instead. Loan amounts range from as little as $5,000 up to 100% of your jet ski’s value.
Secured vs unsecured jet ski finance
Most jet ski loans are secured, meaning the jet ski itself acts as collateral. Because this reduces the lender's risk, secured loans generally come with lower interest rates and higher borrowing limits, letting you finance the full purchase price.
Unsecured finance is also an option but tends to suit those looking for an older or non-standard jet ski that might not meet a lender's security requirements. It's generally quicker to arrange and gives you more freedom in how you use your funds, such as including jet ski equipment or other unrelated costs in your deal, though it comes with higher interest rates in exchange for that flexibility.
How long can you finance a jet ski for?
Jet ski loan terms typically range from one to seven years, depending on your lender and how much you're borrowing. A shorter term means higher repayments but less interest paid overall, while a longer term spreads your repayments out further at the cost of paying more interest over the life of the loan.
What types of jet skis can I finance?
We can help you secure finance for a range of jet skis, including:
- Performance
- Recreation
- Sport fishing
- Stand-up
- Tow sport
In terms of the age of the jet ski, most lenders will restrict you to models up to ten years of age by the end of your loan term. However, we work with lenders who can approve deals for jet skis beyond ten years old, while an unsecured loan allows you to buy any age model you like.
How much does it cost to finance a jet ski?
Based on jet ski loans approved through Savvy in the 2025-26 financial year, here's what the average cost looks like across new and used jet skis:
| Jet ski | Loan amount | Loan term | Interest rate | Monthly repayment | Interest payable |
|---|---|---|---|---|---|
| All jet skis | $25,775 | 5 years | 11.03% p.a. | $561 | $7,873 |
| New jet ski | $29,745 | 5 years | 11.00% p.a. | $647 | $9,059 |
| Used jet ski | $24,443 | 5 years | 11.05% p.a. | $532 | $7,481 |
| Interest rates based on average rate available for each asset type through Savvy in the 2025-26 financial year. These aren't necessarily reflective of the rates you'll receive on your loan. Calculations are for illustrative purposes only and don't include loan fees. | |||||
Beyond the loan amount itself, several other factors influence what your jet ski loan will cost:
- Interest rate: your rate will be influenced by your credit history, income and whether you're a property owner, among other factors. The higher it is, the more you’ll pay.
- Fees: most lenders charge an establishment fee, and some also charge an ongoing monthly or annual fee for the life of the loan.
- Loan term: a longer term lowers your monthly repayments but increases the total interest you'll pay over the life of the loan.
- Loan amount: the more you borrow, the more interest you’ll pay overall, as the above table shows for very similar rates.
- Deposit: putting down a deposit reduces the amount you need to finance, which lowers your total interest.
Jet ski finance cost: new vs used
Jet ski finance cost: new vs used
Sea-Doo GTX 230
| Year | Price | Interest rate | Monthly repayment | Overall interest |
|---|---|---|---|---|
| 2023 | $20,000 | 11.05% p.a. | $435 | $6,121 |
| 2026 | $27,399 | 11.00% p.a. | $596 | $8,344 |
|
2023 2026 |
|
$20,000 $27,399 |
|
11.05% p.a. 11.00% p.a. |
|
$435 $596 |
|
$6,121 $8,344 |
Yamaha FX SVHO
| Year | Price | Interest rate | Monthly repayment | Overall interest |
|---|---|---|---|---|
| 2023 | $28,800 | 11.05% p.a. | $627 | $8,814 |
| 2026 | $35,000 | 11.00% p.a. | $761 | $10,659 |
|
2023 2026 |
|
$28,800 $35,000 |
|
11.05% p.a. 11.00% p.a. |
|
$627 $761 |
|
$8,814 $10,659 |
Jet ski model prices obtained from boatsales on 18 August 2026. Interest rates reflective of the average new and used interest rates for Savvy customers in the 2025-26 financial year. Calculations are for illustrative purposes only and may not reflect the terms you’re offered on your jet ski loan.
By comparing new and used versions of the same model as shown above, you can see that not only do you pay hundreds less per month when buying used, but you’ll also save thousands in interest overall. It’s important to note that other fees, such as establishment and ongoing charges, aren’t included in this calculation and may vary between lenders.
To run the numbers yourself, you can use Savvy’s jet ski and boat loan calculator. This allows you to play around with different loan amounts, interest rates and terms to find the best one for your needs.
Case study: the importance of locking in the best interest rate
Annie is in the market for a new jet ski and is looking for a loan to help her complete the purchase. She settles on a 2026 Sea-Doo GTI recreation model, which starts at $18,099. Once she has this in mind, she decides on a five-year loan term. She applies with Savvy and compares her available options with her broker, which are as follows:
| Loan amount | Loan term | Interest rate | Monthly repayment | Total interest paid |
|---|---|---|---|---|
| $18,099 | 5 years | 7.50% p.a. | $363 | $3,661 |
| $18,099 | 5 years | 8.00% p.a. | $367 | $3,920 |
| $18,099 | 5 years | 9.00% p.a. | $376 | $4,443 |
| $18,099 | 5 years | 10.50% p.a. | $389 | $5,242 |
| $18,099 | 5 years | 12.50% p.a. | $407 | $6,332 |
| Interest rates and calculations are for illustrative purposes only and may not reflect the terms you’re offered on your jet ski loan. | ||||
Although there’s barely any difference between the monthly payments listed above, you can see that an increase of 2.00% p.a. results in around $600 extra paid over the life of the loan. With this information in mind, the lowest rate is selected for Annie and she buys the GTI at the most affordable price.
Why the jet ski you choose matters
"Before buying a jet ski, it’s worth looking beyond the thrill. Many lenders require a boat or jet ski licence (depending on the state you reside in), so you may need to hit the books first. Finance terms can also vary by model, with high-performance jet skis often attracting higher rates."
How to apply for your jet ski loan with Savvy
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Apply online
Kick-start the process by filling out our simple online form.
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Supply documents
Send us any documents we need to verify your profile.
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Speak with your broker
We’ll give you a call to discuss your jet ski finance options.
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Application prepared and submitted
Your broker puts together your application on your behalf.
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Approved, signed and settled
Once approved, we’ll settle the loan and the jet ski is yours!
