Australia’s Easiest Way to Get a Boat Loan
Commercial Hire Purchase Boat Loans from 80+ Lenders
Whatever boat you want to acquire – we can finance it. From commercial trawlers and workboats to PWCs and charter yacht vessels, our expert services provide each of our clients with significant financial benefits. Save time and money by discovering the advantages of using our services.
Compare 80+ Lenders
No Impact on Credit Score
What is Commercial Hire Purchase Marine Finance?
Commercial Hire Purchase is a form of commercial credit facility. It is not a vehicle for hiring or renting vessels. Also known as Hire Purchase or CHP, this type of commercial acquisition is available for marine business operators who need to buy a vessel for use within their company.
With a number of features similar to boat leasing and chattel mortgage, CHP involves the lender purchasing the vessel and ‘hiring’ it back to the borrower for a set monthly fee which is the loan repayment. Under Hire Purchase, ownership of the vessel is with the borrower so that the asset can be depreciated in the annual accounts. During the term of the finance, the borrowing business is also responsible for all the operating costs of the vessel like insurance, maintenance, registration and repairs.
Offering competitive interest rates similar to chattel mortgage, borrowers can also choose to structure their loan with a balloon payment which can either be finalised as a lump sum or refinanced.
Financing Your Commercial Vessel: Exploring Hire Purchase
Hire Purchase is suitable for a range of businesses. It is available for many types of watercraft, from small jet skis and PWCs through to large commercial fishing trawlers. At Easy Boat Loans, you can finance both new and used commercial vessels with this type of boat loan. However, different rates and collateral requirements are generally applied to used vessels.
To determine whether this credit facility is the most suitable for your business, first speak with your accountant. To discuss the best Hire Purchase Marine Loan Easy can source for you, give us a call!
Available for new and used commercial vessels
Suitable for a range of businesses and watercraft types
Competitive rates and the option to include a balloon
Bank Beating Boat Loans
We work harder to secure the best rates.
Compare 80+ Lenders
We work for you