Jet Ski Financing

There are a few options available to help you finance a jet ski. Some lenders offer loans designed for jet ski purchases as well as secured or unsecured personal loans.

Each of these options comes with benefits and drawbacks. This guide will take you through your options so you can find the right one for you.

Credit Concierge Boat Loan

Credit Concierge Boat Loan

From

3.99 % p.a.

fixed rate

From

5.25 % p.a.

comparison rate

• Large loan amounts
• Range of lenders
• Flexible loan terms

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Credit Concierge Boat Loan

Borrow funds of up to $250,000 to finance your boat purchase and choose from both secured and unsecured loan options.

• Interest rate from: 3.99% p.a.
• Comparison rate: 5.25% p.a.
• Interest rate type: Fixed
• Application fee: $395
• Minimum loan amount: $5,000

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Compare Jet Ski loan products below:

Loan amount

$

Loan term

1 year 2 years 3 years 4 years 5 years 6 years 7 years

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Name	Product	Interest Rate (p.a.)	Comparison Rate (p.a.)	Min Loan Amount	Loan Term	Application Fee	Monthly Service Fee	Monthly Repayment
Credit Concierge Boat Loan		From 3.99% (fixed)	5.25%	$5,000	1 to 7 years	$395	$10		You'll receive a fixed rate from 3.99% p.a. Borrow up to $250,000 with a secured boat loan. Get assigned a personal boat loans expert to guide you through the process.	Go to site More Info	Compare	loading Fetching your data...
NAB Personal Loan Unsecured Fixed		From 6.99% (fixed)	7.91%	$5,000	1 to 7 years	$150	$10		You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.	Go to site More Info	Compare	loading Fetching your data...
Wisr Secured Car Loan		From 4.74% (fixed)	5.01%	$5,000	3 to 7 years	$195 for refinance and dealer sale ($245 for private sale)	$0		You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers. ⭐Special Offer: Wisr's standard establishment fee $605 will be reduced to $195 for applications submitted through Finder. T&Cs apply.	Go to site More Info	Compare	loading Fetching your data...

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What options do you have for a jet ski loan?

• Specialised jet ski finance. Some specialised lenders offer tailored products that are designed to be used for the purchase of a jet ski. You may find these structured similarly to dealership finance in that you will be required to pay a balloon payment and your repayments are quite low. You can find these loans online through speciality lenders or by applying for finance when you purchase your jet ski.
• Unsecured personal loan. You can generally use funds from an unsecured personal loan for whatever purpose you need, so if you're approved for the right amount you can put it towards your jet ski purchase. These loans are available for up to seven years and you can usually apply for between $3,000 and $50,000. Rates vary but are usually between 10-18% p.a.
• Secured personal loan. Some lenders may allow you to use the jet ski you're purchasing as security for the personal loan. By doing so you will be able to get more competitive rates as the lender will be more likely to recoup its losses should you default. Rates for secured personal loans can be between 5-13% p.a. and you can usually borrow between $3,000 and $80,000. Terms extend up to seven years/

How should you compare your jet ski loan options?

To find the right loan for you, pay attention to and compare the following features:

• Turnaround time. Some lenders can get you the funds in one business day following approval but others may take longer. Remember to check the turnaround time when considering your options.
• Interest rates. What is the interest rate you will be charged and is it competitive? You should also check the comparison rate as it gives you a better idea of the true cost of the loan.
• Balloon payment or deposit. Will you be required to pay either of these? This will affect your repayments so make sure you have taken this into account.
• Loan terms. Most jet ski loans are offered from one to five years, but some will go as high as seven. Check what your repayments will be based on your loan term and loan amount and see if this will be affordable.
• Repayment flexibility. Are you able to make additional payments without penalty or pay back the loan before the end of the loan term? Check this before you apply.
• Fees. Check for upfront fees such as application or establishment fees and ongoing fees such as monthly or annual fees.

How much do jet skis cost in Australia?

The cost of a jet ski varies greatly depending on elements such as the model, age, hours ridden and whether it is new or used. At the lower end, a used jet ski could set you back as little as $2,000. A higher end new jet ski could cost upwards of $17,000.

You then need to add the costs of licencing, maintenance and gear into the upfront cost.

Is there anything to avoid when applying for jet ski finance?

• Over applying. There are many jet ski loan providers who will work with individuals with less than perfect credit scores. Research lenders thoroughly if you have a bad mark on your credit report and find one that is willing to work with you. Multiple applications and rejections will only reduce your chances of getting approved for a jet ski loan, or an loan, in the future. Multiple applications and rejections will only reduce your chances of getting approved for a jet ski loan, or a loan, in the future.
• Penalties. Check the fees that lenders charge carefully for late payments. In some instances these can be extremely high in comparison to your loan amount.

How you can apply

Use the comparison table on this page to sort through your options and find the right one for you. You can click through to each lender's review page or website to check the eligibility criteria and documents that will be required to complete your application.

Eligibility criteria differ so it's important to check this before you apply. Most lenders will require you to be over 18 and earning an income. If the loan is secured there may also be requirements regarding the jet ski you want to finance.

"What if I have bad credit?"

While most lenders will require you to have good credit, there are some lenders that will consider you if you have negative marks on your credit file. Keep in mind that these loans will be higher in cost and you may be required to meet additional criteria. For example, you will need to supply three months of your bank statements on application.

You can compare a range of bad credit jet ski loan options below.

A range of jet ski loan options to consider

The loans below allow you to borrow cash for a short period when you may need the emergency money.

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Name	Product	Maximum loan amount	Term of Loan	Turnaround time	Arrears Fee	Costs	Fortnightly Repayment (for $5000 Loan)
Nimble Medium Loan		$5,000	up to 22 months	1 hour - conditions apply*	$15	Application fee of $400 + 47.62% p.a.	$262.75	Apply for up to $5,000 and have up to 22 months to repay.	Go to site More Info	Compare	loading Fetching your data...
Credit24 Medium Term Loan (Good Credit)		$10,000	12-24 months	Same day	$10	$400 establishment fee + 48% p.a. interest	$263.18	A small loan with long terms: Apply for up to $10,000 and have up to 3 years to repay.	Go to site More Info	Compare	loading Fetching your data...
Jacaranda Finance Personal Loan		$10,000	9-24 months	Under 1 hour - conditions apply	$35	$0 - $1,000 depending on credit	$226.47	Borrow up to $10,000 and get access to your funds in as little as 1 hour.	Go to site More Info	Compare	loading Fetching your data...
Fair Go Finance Personal Loan		$10,000	3-36 months	Within 24 hours	$35	from 17.9% p.a. + establishment fee of between $360 - $771 + $9 monthly fee	$238.07	A larger loan up to $10,000 you can apply for even with bad credit. Fast turnaround within 1 business day. Note: You must earn more than $500 per week.	Go to site More Info	Compare	loading Fetching your data...
Swoosh Finance		$4,584	60 days -12 months	Next business day	$35	$416 + 47% p.a. of borrowed amount	$244	A secured loan up to $4,584 you can apply for in 10 minutes. Have up to 1 years to repay what you borrow.	Go to site More Info	Compare	loading Fetching your data...

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• Warning about Borrowing

  Do you really need a loan today?*

  It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

  Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

  The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

  * This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

Depending on your credit worthiness and suitability there is a wide range of options in the marketplace for you to finance your jet ski. Remember to compare the options available to you before applying with any of the lenders on this page.