The most common questions we are asked by visitors to our website, Chat, or who call us on 1300 880 883 are “what is your interest rate?” or “what is the best interest rate can you give me?”
Boat Finance has a panel of lenders who we use to source finance for our clients.
The best interest rate achievable for each particular loan is dependent on a large variety of factors, some being:
- the lender,
- amount borrowed,
- age of the boat,
- the boat or marine craft being purchased,
- the personal financial situation of the borrower,
- the type of finance (secured or unsecured) and a whole lot more.
It needs to be understood that interest rates on their own are not the complete picture that can affect your loan repayments. Yes, interest rates are important, but other things like term, repayment frequency, type of loan, how your loan is structured, fees & charges (upfront and/or ongoing), and payout penalties may also have an effect on what you end up paying to repay your loan.
These are the things most companies don’t tell you when they advertise a very attractive “starting from” interest rate as bait to get you on the hook. If it’s too good to be true, it probably isn’t.
Without knowing your personal circumstances and the details of your purchase, it’s impossible to give you an honest answer as to what the interest rate we can source from our lenders for you will be. All I can say is that our rates will be highly competitive.
For this reason, we don’t publish an interest rate on our website. Everyone’s circumstances are different. We work for you and not for the bank, finance company or boat yard! It’s our job to get you the best deal we can.
To find out what interest rates and more importantly what your repayments are likely to be, contact Boat Finance on 1300 880 883 or apply online. There are too many factors that are specific to you, our customer and your intending boat or marine craft purchase.
With a few details about you, one of our trained finance consultants can provide you with an indication of the interest rate and likely repayment.
You should also ensure that your boat finance package takes into account:
- your approval prospects,
- the level of flexibility you require,
- what it will cost you to pay out your loan early,
- all fees and charges,
- interest rates,
- secured / unsecured,
- and repayment amount (whether weekly, fortnightly or monthly).
To make sure you receive a fast approval and a high level of personal service call us on 1300 880 883 or apply online – 7 days a week. We aim to save you time and deliver you peace of mind.
Our aim at Boat Finance is to deliver on all these factors and help you compare your options to find the Boat Finance package that suits you best, at the lowest overall cost given your unique circumstances.