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Get on the water sooner than you think
We understand that making the decision to purchase a boat can be overwhelming. It doesn’t have to be that way. begin your next boating experience with a flexible and affordable finance solution, tailored to your budget and requirements. We have a team of finance experts here at MFL to help you through the process. There are three loan options available for you to choose from when purchasing a boat:
Consumer Loan
Are you interested in buying a new boat but can’t afford to pay upfront? No problem, a consumer loan will help you have your boat on the water in no time. Once you have been approved for the loan, we will advance the funds to you and you can purchase and take ownership right away. As your finance company, we then take an interest in the boat as security for the loan. Once the term agreement has concluded, we no longer take an interest in the boat.
Personal Loan
By using a personal loan to buy your new boat, you are not using the asset (boat) as security for your repayments. This is also known as an unsecured loan. When you are approved for the personal loan we will advance the money on to you and you take full ownership of the boat with no interest from us.
Chattel Mortgage
If your boat is going to be used for business purposes more than 50% of the time, you are eligible to benefit from a chattel mortgage finance solution. much like a traditional home mortgage, you take ownership of the boat upon purchase. We take out a mortgage the boat as security for the loan. Once the contract is up and the final payment has been made we will remove the mortgage and you have complete ownership over the title of the boat.
- Expert advice and support
- Agreements specifically designed to coincide with your cash flow
- A customised contract outlining the terms and repayments
It takes just 2 minutes to complete our online application enquiry
Our financial experts will contact you within 24 hours
We help you decide the best loan option available for you
We find the most suitable Lender out of our panel of nearly 50
How does it work?
1. We get to know you
Firstly, we want to know a little more about your financial situation. This is so we can correctly determine how much money you are capable of borrowing.
2. Help you make a decision
We do some research and assess your financial situation. This is so we can recommend and offer you advice about what loan agreement we think will work best for you.
3. We do all the paperwork
To relieve your stress during the process, we take care of all the paperwork. We ensure that all information is correct and lodge the application on your behalf.
Testimonial
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