Set sail with a
competitive marine loan
Take to the water sooner
with fast pre-approval and expert
services from Simply Finance.
Taking out a consumer loan gives you straightforward and simple repayments with a fixed interest rate during its lifespan. Your boat will be used as a security guarantee, increasing your lender’s confidence. If for any reason you’re in a position where you can’t pay your loan, your vessel will be sold and its value will go towards the repayment sum. Any unpaid balance is the consumer’s responsibility. A loan repayment calculator can help you to figure out which loan is going to be most suitable for you and your lifestyle.
A personal loan can give you the funds you need to pay for the boat that’s caught your eye, or any marine accessories you’re in need of. If you’re on the hunt for competitive rates, flexible terms that suit you and your budget, and a steady repayment schedule, a personal loan is a great option. Your boat or new accessory can be used as security to reduce your interest rate and repayment amounts.
If you’re using your boat for business purposes then a chattel mortgage is a great option. Under a chattel mortgage, your chosen lender buys your boat, then registers a mortgage, sets a fixed interest rate and organises an ongoing repayment agreement with you. And because you’re using your boat for business, you’ll benefit from tax-deductible interest charges and depreciation.