Boat Loans Australia – Get On The Water

Boat loans with Monzi up to $10,000. Apply and you may be paired with an available lender in just 60 minutes! Bad credit welcome. Quick outcomes. No paperwork. Apply today!

Personal loans available through Monzi may not function as typical boat finance. In other words, you cannot use the vessel you intend to buy as security. Instead, you must use one of your existing assets as collateral.

What are boat loans Australia?

Boat loans Australia are personal loans used to cover the cost of a boat. These loans may be secured and potentially valued up to $10,000.

More specifically, these loans are personal loans that can be used to cover the cost of a boat or jetski. Consumers can apply in minutes and may be able to receive a same day loan; you could be skipping across the big blue before you know it.

Bear in mind, the personal loans potentially available through Monzi’s lender-finder service may not function like traditional boat finance. Specifically, you cannot use the boat you intend to buy as security. In other words, you will need to use one of your existing assets as collateral against the loan.

Aussie boat loans with Monzi

Australia has over 25,000km of coastline; the sixth most in the world!

With much of it home to pristine blue water, picture-perfect landscapes and world-class fishing, Australia really is a boat owner’s paradise.

At Monzi, we love to hit the water. Whether it’s fishing, water-skiing or just cruising, if you’ve got a boat, then you’re never bored.

We also love to pair everyday Aussies with a range of great lenders. Through our lender-finder service, we try to match Aussie borrowers with lenders offering personal loans of up to $10,000.

All it takes is one simple instant loan application and you may have an outcome in no time. Apply today!

Possible loans offered by our lenders can be seen below:

Boat financeAmount (AUD)Approved
Boat loans Australia$800
Easy boat loans$1,500
Boat loans Gold Coast$3,500
Boat loans bad credit$8,500

Bad credit boat loans

Bad credit history doesn’t have to stand in the way of your fishing and boating adventures. At Monzi, we know more than a handful of lenders who may be willing to offer the bad credit personal loans you need.

While in the past bad credit was a red flag for lenders, things have changed. Now, lenders dig deeper. Rather than simply looking at your credit score, they’ll examine your complete financial situation.

Lenders can use your income and expenses to calculate your current budget. Subsequently, if the repayments on your potential loan fit comfortably, you may still be considered for a same day loan despite your bad credit history.

You could be towing your brand new vessel to the boat ramp before you know it.

Boat loans calculator

Looking to apply for boat finance but not sure how much money you can afford to borrow? A loans calculator is what you need.

Just do a quick Google search and you’ll come across a handful of free, online loan calculators. Enter your loan amount, repayment period, as well as your income and expenses and you’ll receive an estimate of exactly how much you can afford to borrow.

However, this is only a guide. Do your own calculations to ensure that the loan is right for you.

Can I get a boat loan with no credit check?

In short, it’s unlikely. However, Monzi cannot provide any guarantees.

When you’re looking for a loan to purchase a new fishing boat, most lenders will conduct a credit check. This is simply so that they can assess your past borrowing behaviours. In other words, are your reliable or do you have a history of missing repayments?

Having said this, some lenders may offer no credit check loans. However, this is usually on a limited basis and will only be at the lender’s discretion.

In any case, a credit check may not necessarily be the end of your personal loan assessment. As we’ve mentioned, Monzi works with some lenders who may consider bad credit applicants. As a result, lenders may be willing to look past your credit if you demonstrate that you are in a secure financial position. However, approval is not certain.

Loans for boats Brisbane

If you’re ready to cruise through the crystal clear waters of the beautiful Moreton Bay, then we’re here to help.

At Monzi, we know a few lenders that are always ready to try to help the residents of the great city of Brisbane. You can potentially borrow up to $10,000 to put towards the purchase of your new boat.

Pack your fishing rods, tackle box and esky and get out on the water today.

Boat loans Perth

Boaties in Perth are spoiled for choice. The beautiful bays and abundance of offshore islands mean there’s always plenty to do. Anchor at Rottnest Island and visit the quokkas or get up close to the penguins of the appropriately named Penguin Island.

If you’re a Perth resident looking to purchase a new boat, Monzi’s might be able to help. We can potentially match you with lenders offering loans up to $10,000. Explore the pristine ocean environment today.

Sydney boat loan

Sydney’s boat owners are a lucky bunch. You can experience the majesty of the world-renowned harbour or spend the day anchored at one of the many pristine, sheltered beaches.

Looking for an ideal day trip location? Our favourite places to anchor for the day include:

  • Balmoral Beach: you can get there by car, but why not take the boat? There’s a shark net for swimming and a range of local restaurants and cafes nearby.
  • Quarantine Beach: The eerie name is a throwback to the location’s early days. However, there’s no need to worry. The golden beach and crystal-clear waters combine to make a perfect day trip location.
  • Manly Cove: pull up to the wharf or anchor offshore. Have a swim, hire a paddleboard and indulge in the great food on offer at the nearby cafes and restaurants.

Loans for Melbourne boaties

Discover all 1930 square kilometres of Port Phillip Bay. While it’s often too cold to swim, there’s always plenty of fish.

There’s also a ton of variety. Depending on when and where you’re fishing you might hook into snapper, bream, King George whiting or some squid.

Finance your boat purchase via a boat loan with Monzi. Borrow up to $10,000 today.

Secured boat loans

Loans over $2,000 are generally secured. Therefore, you will need to attach an asset of adequate value against the loan. Lenders can accept the following assets as collateral:

  • caravan
  • car
  • motorbike
  • boat.

Finally, you cannot use the boat you intend to buy as security if you apply with one of Monzi’s lenders. You will already need to own an asset of adequate value.

However, you may be able to use your purchased boat as security if you apply with a traditional marine lender or dealer. Although you must do your own research to determine your options.

New boat vs used boat loans

Buy new or buy used?

That’s the big question when it comes to purchasing a car, boat or any kind of vehicle. While both have their pros and cons, ultimately, the decision is in your hands.

On the one hand, a new boat is just that. New! As a result, there’s no need to worry about damage, wear and tear or the milage. However, new assets depreciate as soon as you drive them away.

On the other hand, a used boat will be cheaper. As a result, buying used can often be a great way to score a bargain. However, it’s understandable to worry about what kind of state the vessel may be in.

Are there any boat motor loans?

Have you got a boat but need a motor?

Maybe your old motor’s packed it in or you’re looking to add a few more horsepower. Whatever it is you’re looking for, Monzi can potentially help.

In short, if you apply with us today, we’ll do what we can to match you with a lender offering cash loans up to $10,000. In most cases, these loans may be used to cover a range of expenses. This may even include the purchase of a new motor for your pride and joy.

All you need to do is provide the exact reason why you need a loan when you apply. If a lender discovers that you have lied on your application, then your application may be denied. Moreover, lenders may be reluctant to offer you credit in the future.

Can I use my boat as security for a loan?


If you already own a boat and would like to apply for a secured loan online, then one way that you could guarantee the loan could be to use your boat. With this, your boat becomes the security, meaning that if you default on your loan, then it is potentially at risk of being repossessed. So, ensure you understand the possible consequences before applying.

Having said this, if you manage your loan well and make your repayments on time, then you shouldn’t face any issues. Moreover, you’ll be able to borrow the money you need today.

Ultimately, Monzi can potentially match you with a lender willing to accept your boat as security on a loan. Apply today for cash loans from $300 to $10,000.

Monzi’s eligibility criteria

Keen to hit the water in your new vessel? Monzi can help you access the finance you need.

However, before you get started, you must check these four boxes to be eligible:

  • At least 18 years of age
  • An Australian citizen or permanent resident
  • Have an active email address and mobile phone number (so we can contact you)
  • Earned a regular income for the three months prior to your application.

How do I apply for personal loans with Monzi?

Monzi’s application process has been refined to ensure it’s easy for you. When you’re ready to begin, just follow these steps to apply for an easy loan online today:

  1. Apply: decide on your ideal loan amount and repayment period. Then supply the required personal information. Hit ‘submit.’
  2. Search: our automated system takes over. It will scan our lender-network to try and pair you with an available lender.
  3. Outcome: We’ll keep you updated via text and email so stay by your phone. If you apply during business hours, then you may receive an outcome in just 60 minutes. If we match you with a lender, they will contact you to complete an assessment.

Boat loans power boat over water at sunrise

How long can you get a boat loan for?

At Monzi, we work with lenders who offer short repayment terms, potentially ranging from 12 to 24 months.

If you are borrowing less than $2,000 then typically your loan term will be anywhere up to 12 months.

On the other hand, for loans over $2,000, the choice will be yours. You’ll have to decide on a repayment period with options ranging from 13 to 24 months.

While a shorter repayment period will mean you get your loan paid off sooner, it will mean your regular repayments are higher. Conversely, a longer repayment period equals a longer commitment but comes with the benefit of lower repayments.

In short, it’s your decision. You must decide which option is best for your budget.

What is the average interest rate on a boat loan?

In short, it will depend on several factors. As a result, Monzi is unable to provide an estimate of what your rate may be.

When you are offered a loan, the interest rate applied will be detailed in your loan contract. So, read it carefully before agreeing to anything.

Factors that may influence the interest rate of your loan include:

  • Secured or unsecured: secured loans may have a lower interest rate as the lender’s risk is reduced.
  • Your credit history: if you have bad credit, then lenders may apply a higher interest rate on your loan.
  • The amount you wish to borrow.
  • Your repayment period.

How can I access low interest rate boat loans?

In short, Monzi cannot say.

Ultimately, we’re a lender-finder service. As a result, we cannot guarantee if you will be offered a low interest rate on your boat loan. It will simply be up to your lender. To get an idea of what your costs may be for a personal loan, you can check out our costs page. However, these figures may vary between lenders.

In addition, when it comes to finding a good idea, it’s never a bad idea to shop around. Compare your boat loan options as well as your potential financiers. For instance, look at the different rates between banks, marine lenders and boat dealerships. From this, you can potentially determine what a low rate may be.

Where can I get a loan for a boat?

You may want to consider Monzi if you are looking for a loan for a boat. We do not offer loans ourselves, but we might be able to put you in touch with a lender ASAP.

With Monzi, all it takes is one simple application. After that, we’ll work to pair you with one of our trusted lenders who is available and willing to assess your personal loans application.

They’ll always stick to their responsible lending practices and will make sure all the rates, fees and charges attached to your loan are clearly detailed in your contract.

In short, Monzi is the hassle-free way to find easy loans approved online.

However, if you would prefer a different option, there may be financing available through a range of marine lenders and financial institutions. You will need to consider your options to determine which is best for you.

Which lenders offer the best boat loans?

There are many great lenders who potentially offer loans for both new and used boats. In short, it’s nearly impossible for us to say which one is the best.

When you apply with Monzi, you can potentially be paired with one of the many lenders that we trust.

Most importantly, all the lenders in our network take their responsible lending obligations seriously. Your application will be thoroughly assessed to ensure it’s affordable for you.

At the end of the day, a great loan is one that works for your situation. Monzi knows plenty of lenders who may help deliver this. Apply today.

Can I apply for a boat loan if I’m self-employed?


At Monzi, we work with lenders who may offer loans to those who are self-employed or own their own business. In short, this can be a huge relief, given that it can often be difficult to access credit if you fit this criterion.

So, when you’re looking to purchase a boat and you’re self-employed, turn to Monzi. We’ll do what we can to pair you with a lender who may offer the personal loan you can use to purchase a vessel today. However, remember that you must prove that you are earning sufficient income to cover the cost of your repayments.

What credit score do I need for a boat loan?

Most lenders will indeed have minimum credit score requirements. However, these requirements do vary. After all, some lenders are more willing than others to consider applicants with bad credit. Unfortunately, though, this makes it difficult for Monzi to say what credit score you may need to access a personal loan to purchase a boat.

In any case, usually, the higher your credit score, the better. So, if you’re credit isn’t looking too flash, here are a few quick tips that could help you see improvement over time:

  • Pay your bills on time.
  • Keep your credit balances low
  • Find the best rates and terms before opening new credit accounts.
  • Apply for credit as a last resort.
  • Monitor your credit report to ensure it remains error-free.

How do I apply for boat loans as a pensioner?

At Monzi, we know lenders who may offer loans to people receiving benefits or a pension. As a result, it may be possible to access a personal loan to fund the purchase of a new boat. Moreover, you may use these loans to cover a range of other expenses too.

However, if you are a pensioner, keep in mind that taking out a personal loan or a boat loan may not be an appropriate choice for you. These loans can be expensive and must be repaid with interest. As a result, you may need to consider alternatives.

Is financing a boat a good idea?

In short, it will come down to your unique financial situation. As a result, Monzi is unable to provide you with a definitive answer.

So, before you apply for easy personal loans, make sure you have a clear idea of your finances. Consider your income, expenses and savings as well as the purchase price of the boat you have your eye on.

Next, try to work out what repayments would suit your budget.

If you’re not sure where to begin then a great first step is to create a budget using one of the many free, online budgeting tools. For example, the Moneysmart budget planner makes it easy to enter your income and expenses, so you know exactly where your money is going each month.

Can I apply for marine loans?

Of course.

Freshwater or saltwater? It doesn’t matter with Monzi.

In fact, you can access finance for a range of different boat-types through Monzi. Borrow from as little as $300 up to $10,000 to finance your purchase of any of the following:

  • Catamarans
  • Dinghies
  • Sailboats and yachts
  • Houseboats
  • Runabouts and other fishing boats
  • Ski boats
  • Any other boat you could think of.

How to compare loans

Finding the right loans gives you the best chance to manage it effectively. So, when you apply, keep these factors in mind:

  • Secured or unsecured loan?
  • How much can I borrow?
  • What repayment periods are offered?
  • What fees, rates and charges are included?
  • Check the lender’s reviews online: ensure that past user experiences have been positive.

Boat ownership: what are the costs?

While cheap boat loans might make it possible for you to cover the cost of your new boat purchase, there are a host of other costs you need to consider too.

Purchases and costs you’ll encounter as a boat owner may include:

  • Fuel
  • Insurance (may cost more than $100 per year)
  • Equipment (ropes, anchor, electronics, safety equipment)
  • Maintenance and repairs
  • Storage (if you’ve got no room in your driveway).

Are no-doc boat loans possible?


In the past, lending regulations were more relaxed. As a result, it was possible for lenders to offer no or low-doc loan options. In other words, you could potentially be offered a loan without providing documents related to your financial situation.

However, those days have passed. Lenders are now bound by a series of regulations that mean no doc loans cannot be offered. Instead, lenders will always require a range of personal and financial details. They will then use this information to determine if you should be offered a loan.

While this may seem inconvenient, remember that loan assessments are about ensuring you can afford the boat loan you take out.

Why should I use Monzi’s lender-finder service?

Monzi can make it simple to access a range of great lenders offering the boat finance you need. However, that’s not all. There are a host of other benefits that you’ll experience when you apply with Monzi.

Quick outcomes

Apply during business hours and you may be paired with an available lender in under an hour. Moreover, our lenders will work fast to assess your application. While it’s not guaranteed, you may receive your cash on the same day that you apply.

Access anywhere

We’re here to help Australians from every corner of our wonderful country. If you have an internet connection, then you can apply with Monzi. We’re online 24/7 too, meaning you can apply at any time that works.

Trusted Security

We’ve enlisted the services of McAfee and Comodo to protect our online system. Backed by two of the most trusted names in the cybersecurity game, you can be sure that your personal details are safe with us.

Manageable repayments

When you apply, you’ll have to decide on your ideal repayment period. While loans under $2,000 are typically repaid over 12 months, loans over $2,000 can be repaid over 13 to 24 months.

Moreover, you’ll get to decide between weekly, fortnightly or monthly repayments. Consider all relevant information to determine the right combination for your financial situation.

Making repayments is easy too. Simply set up a direct debit from your account and your repayments will be automatic.

We’re always willing to help

If you’ve got questions, queries or concerns, then don’t be a stranger. Reach out and contact us at We’re always happy to answer any questions that you might have.

Apply today

The water’s waiting. Get your new boat today! Monzi is ready to help you access the boat loans you need. Scroll up and begin your application now!

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You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.