Boat Loan Calculator

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Boat Loan Calculator

Credit One is one of Australia's leading marine financiers. We have years of experiences financing everything from jet skis and trailer boats to fishing charters and yachts.

To get an idea of just how affordable your Credit One boat loan could be, try our free online boat finance application or call us on .

What Our Customers Say ...

We know that customers are at the centre of our business. That is why everything we do, we do for our customers. See why Credit One has become one of the most trusted and preferred brokers in Australia.

My name is Geoff. I went through Credit One, a third choice as other finance companies, in Melbourne I might add, was so disengaged and just couldn't be bothered with the difficult task I needed. So I give Credit One a chance, it started as, oh, I'm not sure about this? but as we progressed it started to become more tangible? Then the lady I was dealing with, Emma, stepped up to the plate, and went way and beyond the line of duty.
My finance was very difficult indeed to achieve, and I knew that! Emma nailed it, and Alan the manager, was extremely helpful as well! I have to say in the end, I can't fault them.
I don't usually give my opinions to anybody in writing, but these individuals deserver praise. They kept me informed of everything that was happening, and WOW, there was a lot that happened! and it took such a long time to complete, and such a big headache it was!
I will give them 10 out of 10, as I was extremely impressed! Great job, your company should be proud to have such dedicated staff!

Geoff McClelland

Emma Johnson from Credit One was super helpful and quick to help me get approved for a loan. She’s was very informative and helped answer all the questions I had. Emma is lovely and professional and fantastic customer service. Highly recommend her!

Courtney Renee

Shaylah was extremely kind and energetic the whole process of getting the loan and willing to do what it took to get the loan done quickly and with consideration to my needs. Was fantastic to work with and 100% would suggest going through this company.

Iachlan Earley

Highly recommend Alan to help with all your loan needs. We have used many brokers over the years and we can confidently say that Alan has been by the far the best. Knowledgeable, no fuss, professional and efficient - we would and will continue to use Credit One in the future.

Katie Andrews

Have found my new go to for finance. A very professional team who are very supportive in all step required. Nothing was too complicated and always kept in touch with the process.

Trace Saunders

Jenny Youl was so good to us, she made things so easy with the paper work and she kept us notified with everything. I think we may have been her longest clients with COVID going on. Thanks Jen.

Amanda Schuman

I’ve dealt with Shaun & Andy for 2 settlements this year and cannot fault the professional service and response time these gents supply. Along with these top quality attributes they also have extremely competitive rates. 5 stars.

Mitch Harris

Brett Murphy was such a great help and found me the best possible loan that suits me! I definitely recommend using him for all your loan needs! Will be recommending all my family and friends. Thanks again Brett!

Joel Sandry

I have dealt with Michael a few times now and each time he delivers with fast reliable service. He keeps in touch and knows what he is doing. I would highly recommend him to anyone looking for finance.

Scott Taylor

Brooke S was an absolute superstar! Nothing was too much trouble, more than happy to go above and beyond expectations and made the whole process simple, pleasant and easy. Highly recommend Credit One to anyone.

Merita Hammond

How the Boat Loan Calculator Works

Are you dreaming about days on the water, soaking up the rays as you fish with mates or spending some quality family time together? Buying a boat for the first time is a big decision, and also an exciting venture that should be celebrated.

Naturally, it can also come with a lot of stress. From researching the best boat for your circumstances to working out the finance options available to you, there is a lot to think about. A boat loan repayment calculator is the perfect tool to help you navigate this.

Put simply, a boat loan calculator shows you how affordable a boat loan or jet ski loan can be. You can work out exactly how much you will be paying each week, fortnight or month and determine what you can afford. This is one of the first steps anyone should take when applying for boat finance.

There are a number of different factors that will affect this estimated repayment, such as loan amount, loan term, interest rates and the frequency of the loan.

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How To Use The Boat Loan Calculator

Using a boat finance calculator is simple, and it can give you valuable insight into what you can afford and how much you can expect to be paying each week, fortnight or month, and over the course of the loan. Here is the information you need to get started:

  • Loan amount: this is the total loan figure. It will generally be the price of the boat, minus the down payment. You can use the loan calculator to work out how much you can actually afford by changing this amount.
  • Loan term: a long-term loan means your repayments will be smaller over a larger period of time. It will take longer to pay the loan off and you will pay more interest, but the repayments will be more affordable.
  • Interest rates: the lower the interest rates, the more affordable your loan will be. This figure is added on top of your loan amount. Keep in mind that rates are generally higher on unsecured loans. While a secured loan typically attracts a lower rate.
  • Frequency: you can choose from weekly, fortnightly or monthly repayments. While the repayment amount won’t change, one option might be easier for you to manage.

After entering each of these variables into the calculator, you will receive an estimated repayment amount.

Please keep in mind that the repayment figure provided by the calculator is for illustrative purposes only. The true cost of the loan will depend on your credit history, loan type, the asset being financed and other factors.

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Benefits of Using The Boat Finance Calculator

When it comes to buying a boat, many people mistakenly focus on the overall price, which unsurprisingly can be very daunting to think about. Yet, this isn’t your primary concern when financing a boat.

It’s more important to work out the repayments you will be making on your loan, which will change depending on how you choose to structure your loan and the interest rate. This is where a finance repayment calculator can be very helpful. By inputting each of the different factors discussed above, you will be able to determine what you can afford to pay back on a regular basis.

Knowing your repayments is the most important number when it comes to taking out a boat loan. This number is determined by those factors mentioned above. Interest rates are an important factor to consider when comparing boat loans. A higher interest rate will have you paying off more money over the term of the loan, in addition to the purchase price of the boat.

But interest rates aren’t the only factor to consider. The next one to look at is the term of your loan. A longer term loan may sound appealing, as your monthly repayments will be smaller. However, you will be paying interest over a longer period of time, which means you end up paying more by the end of the loan due to the interest accumulated.

You should also consider any additional fees and charges such as loan establishment fees or early repayment fees. A marine finance broker will be able to discuss this with you.

A $20,000 boat may sound like a big investment. Yet, taking out a $20,000 boat loan with an interest rate of 5% and a term loan of 5 years, will cost you just $80-90 each week in repayments. When you consider your weekly expenses and how much you have left over, this figure might be much more achievable. With a boat loan calculator, you can adjust the price, interest and loan period to find a repayment that works for you.

Related: The Costs Of Buying A Boat In Australia

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Factors To Consider

Now we understand the different factors that affect your repayments, let’s take a look at what you need to consider before taking out a boat loan.

There are 4 questions you need to ask yourself:

  1. How much is the boat?
  2. What down payment will I be putting on it?
  3. What is the interest rate?
  4. How long will the loan be?

By answering these four questions, you can determine how much your loan is actually going to cost you. While the cost of the boat might be $20,000, you need to factor in the answers to the questions above to work out the overall cost of the loan – two very different figures. Start by deducting the down payment from the cost of the boat. This has already been paid and won’t need to be factored into the loan. Next, you need to look at the interest rate, and how much you will be paying in interest over the course of your loan period. Adding this figure to the amount you want to borrow will give you the overall cost of the loan.

This is what a loan calculator does for you in seconds. Instead of spending all your time working out the maths and calculating a number of different alternatives, a loan calculator will speed up this process. This allows you to explore more options to determine the right solution for your circumstances.

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What Are The Next Steps?

Once you have done the hard yards and worked out a repayment option that suits your circumstances, you are ready to take the next steps. While the calculator gives you a great insight into what you can and can’t afford, it’s important to contact a broker who can accurately assess your financial situation and borrowing power before taking out a loan.

Consulting with a financial broker will ensure you gain a thorough assessment of your financial situation, so you enter into a loan agreement with both eyes open. Our expert team of boat finance brokers can provide you with a deeper evaluation of the boat loan calculator results, focused on your individual circumstances. They will help determine what you are able to afford when it comes to taking out a boat loan, offering their expert advice and tips so you get the most out of your boat loan.

After an initial discussion with a broker, they will be able to guide you through the next steps on getting a pre-approval for your boat loan.

Give us a call today or submit an online enquiry so you can get out on the water even sooner.

4 Tips On Getting Approved For Boat Finance

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