Boat Finance Calculator

If you’re considering buying a boat for yourself, and you’ve sat down and made certain that you’ll use it often enough to make it a worthwhile investment, you’re ready to use a boat finance calculator to work out what kind of boat you can really afford.

Using a Boat Finance Calculator

When calculating the finance you’ll want for your new boat, one thing you’ll need to know is exactly what your income and current expenditure is. You’ll also need:

  • Type of boat - age, model etc
  • New or second hand
  • Whether it’s for leisure or business
  • Your credit score - know if you have missed payments or defaults.

Talk To a Boat Loan Expert

Boat loans vary so much that the best way to get the information that you need is to talk to a boat loan broker about your options.

Towing Your Boat

When you are buying a new boat, you will need to consider how you will transport your boat too. Depending on what kind of boat you’re considering, you might need a trailer to transport it.

This means you’ll also need a car that can tow the load you need to transport. This may mean getting a towbar installed on your current vehicle, or it might mean you need a new vehicle that can handle the load.

Storing Your Boat

You might be able to store your boat right at the site where you’ll use it - whether that’s in a shed or a marina berth.

This does mean you’ll need to budget for the storage or berthing fees that apply.

If you’re storing your boat on the water, this will affect the type of boat that you buy too. You’ll want something durable and weather-proof. Luxurious cushioned seats are okay if you can store the boat in a shed out of the weather, but they won’t fare so well on the open water for long periods.


Depending on how much you decide to spend on your boat, you’ll want to consider insuring it so if anything does happen and the boat is damaged, you can get repairs and get back on the water.

How To Choose Your First Small Power Boat

Buying a boat, especially for the first time, can be a daunting challenge if you don’t have a thorough knowledge of boating and what’s available.

  • Consider Buying Second Hand For A Tried and Tested Boat

  • Unlike buying a car, buying a used boat may have many advantages. A second-hand boat has been tested enough that anything faulty or problematic has likely been fixed by the owner. In fact, around 90% of large boasts sold each year are second-hand boats.

    One reason we say this is that boat builders are often small companies, unlike car companies that can provide extended warranties and service.

    When you’re buying a second hand boat you’ve got the opportunity to ask the previous owner questions about how they’ve used the boat and any problems they’ve experienced - you’ll know pretty soon if you’re getting a reliable vessel.

  • Should you buy an outboard motor or stern drive?

  • The answer to this is actually easy. If you store your boat dry, or you’re only using it in fresh water, a stern drive is fine.

    For salt water, you’ll want an outboard motor you can lift out of the water while the boat isn’t being driven, to protect it from the corrosive effects of the salt.

  • For inboard motors: do you need a closed cooling system?

  • Once again, this depends if you’re using the boat in salt or fresh water. In fresh water there’s no need to pay the extra cost. In salt water, you definitely need one to prevent corrosion from the salt, similar to how a car that’s kept near the ocean corrodes.

    With an outboard motor you don’t have a cooling system, when the engine stops the water just runs out due to gravity, rather than staying in the engine and causing corrosion. This means there’s no cooling system needed.

How To Apply For Your Power Boat Loan

For more information on getting your own boat, call 1300 722 210 to talk to a boat loan broker about your boat finance options.

They’ll run through the boat finance calculations with you so you understand how your boat finance will work. You can ask any questions that you have too.

Quick Quote

By clicking Get My Quote, I acknowledge and accept the Terms & Conditions.

We make finance a Positive experience