Boat Loans Made Simple

When you see a boat you’d like to purchase, a boat loan can give you the money upfront to get the deal done. You then repay it, plus interest and fees over a period of time. This can be handy from a cashflow point-of-view, and might mean you can afford a more expensive boat than if you were covering the whole purchase price initially yourself.

Getting a boat loan might not take as long as you expect. The team at Motor Vehicle Finance are experts at getting lending done, and sometimes can turn around an application in less than a day. A few factors can affect how long it takes, like having all the necessary information with your application from the get-go. But rest assured that when you work with us, we’ll be doing everything we can to get you on the water as quickly as possible.

Approval subject to responsible lending inquiries.

Part of our process involves helping you identify the right lender for your needs. At the moment, our panel includes Heartland, Marac, Oxford Finance, Finance Now, Geneva Finance, Avanti Finance, UDC, Gem Finance and Community Financial Services.

Your interest rate can vary according to things like your credit history, and whether your loan is secured against your caravan. In general, rates range from 7.95% p.a. to 29.95% p.a. To find out what sort of interest rate you are likely to be offered, complete our simple application form here.

Approval subject to responsible lending inquiries.

It’s a good idea to check what fees you will pay over the term of any loan. When you take a boat loan through Motor Vehicle Finance, there will be establishment/introducer and lender fees involved.

You can click here for a copy of our disclosure statement, or if you want more detailed information about lender fees click here.

As an example, if you had a loan of $5000 over 12 months at 10.95% p.a. with establishment and introducer fees of $495 and a PPSR Fee of $7.39, the total amount to repay would be $5,835.93 which is 12 monthly payments of $486.34.

If you’re wondering what loan repayments might be at different borrowing amounts, terms and rates, our handy calculator can show you different scenarios. Note: The figures produced by the calculator are a guide only — your actual interest rate, fees and repayments will be determined after your application is assessed. For more see 'Loan Information' section below.

Not necessarily. No-deposit lending can be possible, subject to lender approval. If you’d like to look at whether borrowing the full amount of your boat purchase price is possible, you can fill out the application form here.

Our team are expert at helping Kiwis refinance existing boat finance.

Quick tip before you start: Make sure you are clear on what you want to achieve with refinance and the implications, for example: (a) do you want to reduce your current repayments, (b) do you want to review your interest rate and total cost of debt, or (c) other refinance objectives… In a nutshell, when refinancing your boat loan, it is important to be clear on what you want to achieve and any implications of making a change from one lender to another. We’re here to help you make a good choice for your needs.

Savings aren’t guaranteed and refinancing or consolidating can extend the term. Approval subject to responsible lending inquiries. See Important Information below.

When you start an application, we run a soft credit inquiry to size up your options. Soft inquiries don’t change your credit score. If you proceed with a lender, the lender will run a full credit check, which creates a credit inquiry on your file and may affect your score. Applying with multiple providers may lead to multiple inquiries.