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.
Updated April 7th, 2020
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.
Matt Corke is the head of publishing in Australia for Finder. He previously worked as the publisher for credit cards, home loans, personal loans and credit scores. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time he has survived the dot-com crash and countless Google algorithm updates.
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.66% p.a. to 19.59% 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% p.a. (13.34% p.a. comparison rate) or less. See Comparison rate warning in (i) above. Application fee of $150 waived off.
You'll receive a fixed rate between 7.95% p.a. and 16.95% p.a. based on your risk profile A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.