Loans as they should be
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Borrow up to $45,000 for a new or used vehicle
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Simple online application
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Loan terms from 18 to 60 months
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No early repayment fees
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Two weeks conditional pre-approval
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Fast finance – funds typically disbursed within 24 hours of approval
Learn more about our boat loans
Dreaming of owning a boat and cruising out on the water? Whether you’re looking for a brand-new model or a reliable second-hand vessel, a boat loan from Rapid can help make it happen. We do fast and flexible loans for real Australians.
Our tailored financing options can be used for a range of boats, such as recreational boats, fishing boats, jet boats, and more. We make it simple to find a loan that fits your lifestyle and budget. Apply online in minutes and sail towards boat ownership with confidence.
Set Sail Sooner with Tailored Boat Finance
Every boat owner has a different lifestyle, budget, and vision of the ideal day on the water. For this reason, Rapid Loans provides boat financing tailored to your needs. So, whether early morning fishing sessions is what you’re after, or you’re in the market for a comfortable and reliable family runabout, look no further than a Rapid loan.
Our secured boat loans come with straightforward terms, fixed repayments, and no confusing conditions, so you always know where you stand. Because the loan is secured against a registered vehicle, the security can be the boat you’re purchasing, or another registered vehicle if that works better for your situation.
From tinnies and jetskis to trailer boats, catamarans and small yachts, we can help finance a wide range of vessels and boating accessories. Ready to get on the water faster? We’re here to make it simple.
Loans From $5,000 to $45,000 for Any Type of Boat
Rapid Loans gives you the flexibility to borrow the amount that best fits your needs. So, if you are looking for a second-hand vessel or want to take the leap and get something brand new, our boat loans range from $5,000 to $45,000. If you’ve come across boat loans for the first time and are interested in exploring further, here are some boat options that may be exactly what you are looking for:
- Aluminium runabouts
- Family leisure boats
- Jet skis
- Fishing boats
- Inflatables and dinghies
- Cabin cruisers
- Trailerable marine vessels
You can buy from a dealership, a private seller, or a specialist marine retailer. The amount you’re approved for will depend on your financial situation and our lending criteria, but our broad loan range means we can support everything from the basics with a few boating accessories to more premium models with all the gadgets.
How to Get a Boat Loan: Apply in Minutes
At Rapid, we understand that our customers are real Australians who are always keen to get outside and enjoy our incredible landscapes. That’s why we’ve streamlined our application process to make getting boat finance simple and quick, so you can get on the water faster.
Here’s how it works:
- Complete your application online: Enter a few key details (such as your income, expenses, and the amount you’d like to borrow). The form only takes a few minutes and is completely secure. You may need to provide supporting documents, but our team will be in touch to let you know what’s required.
- Assessment and review: Our team will review your application and determine if you are eligible for pre-approval. Our team will contact you typically within 24 hours for minimal delays in your journey.
- Final approval and funding: If your application is approved, provide us with the details of the vessel you’re purchasing and funds will be transferred to the boat seller or dealership promptly, typically within one business day.
- Organise the pick up of your new boat and prepare to set sail!
Conditional Pre-Approval: Secure Funding Before You Shop
Shopping for a boat is much easier when you know exactly how much you can spend. That’s why Rapid Loans offers conditional pre-approval for marine finance. This gives you the confidence to browse, compare, and negotiate prices with a clear budget in mind.
Pre-approval helps you:
- Avoid overstretching your budget
- Strengthen your position when negotiating with sellers
- Move quickly when you find the right vessel
- Shop knowing your finance is already on track
Once you’ve chosen the vessel and met the remaining approval conditions, we finalise your loan and transfer funds as quickly as possible.
Helpful Tips Before you Buy a Boat
To get the most out of your boat loan and avoid common pitfalls, consider these tips before you buy.
- Set a budget and stick to it: If you include all of your incomes and expenses, you will be able to clearly see your money going in and money going out that will give you a realistic idea of your finance habits to help you manage your scheduled repayments.
- Check the boat’s condition: Research to ensure you are getting a boat with all the features that you desire and in good working condition, especially if buying second-hand.
- Ask about warranties or recent repairs: You can either buy a brand new boat or a second hand option, but weigh up the options of each. While new models are likely to have warranty and the latest technology, second-hand options are typically more affordable.
- Review insurance options to protect your investment.
How It Works
1. Apply Online
Get started with our simple online application and be on your way in just a few clicks! Our secure online platform keeps your information safe.
2. We’ll Get In Touch
Your application will be reviewed and one of our friendly loan consultants will be in touch soon! We’re here to help.
3. Receive Funds
We take our commitment to being fast seriously! If you applied in the morning and were approved, your funds could be available the very same day.
Why go with Rapid for your loan?
Loans Tailored to You
Our auto and personal loan products were created with our customers in mind. We live in the real world too, so we created flexible loan solutions to suit most circumstances.
Quick and Easy Process
Our online application takes just minutes and our secure online portal allows you to upload your essential documents quickly and conveniently.
Personalised Service
Like everything at Rapid, we make sure dealing with our professional customer service representatives is straightforward and simple. We’re here for you!
Trusted Lender
We’ve funded loans for over 50,000 happy customers to make life happen. Our people are experienced, professional and understand that life isn’t always straightforward.
Explore Our Other Loan Types
Jet Ski Loans
For when you want to make a splash
Motorhome Loans
For when it’s time to hit the open road
Motorcycle Loans
For the times you want to rev your engine
Car Loans
For your new or used car purchase
Boat loan questions
What is a boat loan?
Rapid Loans provides several different types of financing options, including boat and marine loans. A boat loan in Australia is a type of financing provided by banks or lending institutions, such as us at Rapid Loans, to individuals or businesses for the purpose of purchasing a boat. It works similarly to a car loan or personal loan, with the boat serving as collateral for the loan. At Rapid Loans, this is what we call a secured boat loan. The boat finance amount, interest rate, and repayment period are determined by a range of factors such as the borrower’s credit history and the value of the boat. The borrower makes regular repayments until the boat loan is fully repaid. At Rapid Loans, we are pleased to offer our customers flexible loan and payment schedules to ensure they can have the boat of their dreams and also maintain the boat loan to avoid any extra fees and charges.
What amounts can I borrow for a boat loan?
At Rapid, we want to make sure you can live your dream of owning a boat. That’s why our boat loans range from $5,000 to $45,000. You can use this finance for almost anything in relation to purchasing a boat. Our dedicated team will assess your application thoroughly to determine your borrowing power based on your income, credit history and other factors.
What are the benefits of a boat loan in Australia?
A boat loan with Rapid Loans offers many benefits. The benefits of boat loans in Australia can include:
Affordability: A boat loan can make the purchase of a boat more affordable by spreading the cost of the boat over a longer period of time. Marine finance is a great option for people who want to achieve the dream of a new boat now but may not have the extra cash on hand to pay for the full amount of the boat upfront.
Flexibility: Boat loans usually come with a range of options, such as different repayment terms and interest rates, which can be tailored to the individual needs and circumstances of the borrower. At Rapid Loans, we offer secured boat loans with security taken over the boat being financed.
Convenience: Taking out a boat loan is a convenient way to purchase a boat without having to pay the full amount upfront. Instead of a lump sum, customers can make easy weekly repayments for the life of their boat loan which is easy on the bank account.
Improved credit score: Repaying a boat loan on time can help improve the borrower’s credit score. Having a good credit score can benefit borrowers in the long run when applying for other loans or credit products.
Overall, taking out a boat loan in Australia can provide a convenient and affordable way to purchase a boat and enjoy the benefits of boat ownership.
What is a balloon payment?
A balloon payment is a significant extra payment made on your loan that is greater than your normal repayment. A balloon payment can be made at any time of the loan term and will reduce the loan term and interest charges for that loan. We do not require balloon payments at Rapid Loans, however the option is available to you to make extra repayments without incurring any fees.
How do I apply for marine finance?
We make applying for a boat loan simple and quick at Rapid Loans. To apply for marine finance with us in Australia, there are a few important points you must consider before submitting your application for marine finance.
When looking into boat finance, ensure you’ve done your research to find a lender like Rapid Loans which specialises in marine finance. Ensure you have checked their interest rates, repayment terms and other fees and charges associated with the loans.
Before you take out a loan or begin looking for a new boat, ensure you are eligible to take out a boat loan. There are certain eligibility criteria you will have to meet for marine financing. It is a good idea to check your credit score, as most lenders will require you to meet a certain minimum credit score. You will also need to ensure you can prove you have a steady income to be able to repay the marine finance. You’ll also need to be able to show where your money goes each week to show the lender that you have enough funds available each time the repayment comes around to pay your boat loan back.
At Rapid Loans, we make the application process very easy. We want you to be able to submit your information, gather the required documents and give you an answer about whether you’re eligible for marine finance as soon as possible. At Rapid Loans, we need to be able to see you have a source of income, and formal identification, so we know to whom we’re loaning the money and some information about the boat you’re dreaming of to ensure it is able to be financed.
We try and make sure that if you’re eligible, you have your marine finance approval as soon as possible. Once we have everything from you, we assess each loan on an individual basis to ensure we understand you and your needs. If you’re approved, we aim to get the funds to you within 24 hours.
Before we disburse the funds to you, you’ll need to sign the loan agreement and commit to making your repayments according to the agreement.
It’s important to carefully consider your financial situation and understand how marine finance works before applying for a loan.
Can you get finance for all boats?
At Rapid Loans, we make it possible to obtain financing for many types of boats in Australia, including recreational boats, fishing boats, yachts, and other vessels. However, the specific financing options and requirements may vary depending on the type of boat, its value, and your personal financial situation.
To obtain financing for a boat, you will need to provide proof of income and employment, be aware of your credit history, and may need to provide a deposit for the boat loan. At Rapid Loans, our marine finance is similar to a car loan and is a secured boat loan. This means we hold a security on the boat and in the unfortunate circumstance that you don’t repay your loan, we will collect and sell the boat.
You should assess your financial situation as well to ensure that you have the financial means to afford and repay a boat loan.
Can I get conditional pre‑approval?
Yes. Rapid Loans offers conditional pre-approval, which allows you to have a clear budget in mind before you start browsing. This makes it easier to compare boats, negotiate confidently, and move quickly when you find the right one.
Are there any early repayment fees?
No! At Rapid, we believe that if you can pay off your loan sooner, you shouldn’t be penalised for it. So, if you’d like to finish your payments sooner, no additional fees will be charged.