Boat and jet ski finance: looking beyond the purchase price
Define the marine package
List the vessel or jet ski, engine, trailer and major accessories, with separate prices where possible. A combined advertised package can make it harder to see what you are buying. Keep the model, year, seller and listing details available for the next conversation.
Allow for the cost of keeping it on the water
Build a budget for insurance, registration, servicing, fuel and storage or mooring. Ask about service requirements and likely maintenance needs for the specific asset rather than relying on an average figure from a different vessel.
Inspect a used asset independently
Consider an appropriate independent inspection of the vessel and engine. Ask what ownership and existing-security checks are needed for the vessel, engine and trailer. A finance assessment and an asset-condition assessment answer different questions.
Compare the full finance cost
Ask about the rate, fees, term, total amount payable and any balloon. Decide how the repayment would fit during periods when you use the boat less often. If you plan to sell at the end of the term, allow for uncertainty in its future value.
Make the next conversation specific
Explain whether the purchase is personal or commercial, where it will be stored and whether the seller is a dealer or private individual. Include your approximate budget and timing. Those details make it easier to clarify which provider requirements need checking.
Explore the next step
Boat and jet ski finance information · Repayment calculator
Enquire About This PurchaseFurther reading: ASIC Moneysmart: comparing car loans and personal loans. For business purchases, see business vehicle and equipment finance. Provider examples do not indicate a lender-panel relationship.