Frequently Asked Questions

Simply better and faster finance packages for boat finance, car finance and equipment finance for almost any purpose. From hire purchase and leasing for cars, trucks, vans, office equipment, machinery, tractors, equipment, caravans, motorcycles, business furniture & fittings.

Just call one of our friendly staff on 1300 00 MFIA for assistance

Minimum loan is $5,000.00. Boats preferably no more than 8 years old. (but will look at all avenues to for you). The finance will be secured on your purchase at a fixed interest rate that will not go up over a 3 to 5 year term. MFIA Finance Group also provides a range of insurance products for boats, motor vehicles, and trucks, and a unique 2nd chance finance service for people with bad credit or just having difficulty getting a loan

Minimum loan is $3,000.00. Suitable for holiday loans, debt consolidation, furniture, and for all general purpose use, even old cars & boats unsuitable for the secured finance mentioned above with terms up to 7 years offered. The interest rates offered are either fixed at a competitive rate or a variable interest rate allowing you to take advantage of possible interest rate drops.
Note: This unsecured product is not available in all areas

Business finance (hire purchase, chattel mortgage or lease) is available to both company & individuals, providing the goods are to be used predominantly for business use, ie more than 50% business usage. For example, taxi drivers, mobile sales reps, couriers, etc could qualify for lease or hire purchase. A school teacher driving to & from work would not qualify. Call MFIA Finance Group or speak to your tax adviser. Business finance is usually lower interest rates, and there are many structures available to maximise your budget or tax benefits.

Usually MFIA Finance Group Boat Finance can get boat loans approved in just a few hours, however complex or difficult applications can take a few days. Once approved original finance documents must be signed and the supplier will be paid directly usually within 1-2 days.

Yes, providing you can give us an idea of what you're intending to purchase. Getting pre-purchase approval on a boat loan before you go shopping is a good idea, allowing bargaining power on the showroom floor. MFIA Finance Group Boat Finance needs to assess the total amount of finance against the current market value of the item. We must also approve your supplier, as there are many fraudulent vendors in the market place.

MFIA Finance Group Boat Finance considers things such as: have you ever filed for bankruptcy, do you own a home, how much is your current income, how long have you been employed at your current job, how long have you lived at your current address, do you have a credit rating, what is your net worth, and so on. The financial officer will then apply some maths to ascertain your credit status, determine the security over the boat loan, your current debt level, your income, and your ability to repay the boat loan. From this MFIA Finance Group Boat Finance will determine how much money you can borrow. You can do the sums yourself to determine your monthly budget. Simply deduct your expenses from your after-tax earnings. This will ensure that your next boat loan is affordable and not a struggle.

MFIA Finance Group will consistently monitor current interest rates to maintain and offer the most competitive deals in Australia. MFIA Finance Group will help you get the best deal on a boat loan, boat finance. However, the interest rate offered may vary by several per cent depending on whether you are a high or low-risk borrower. Contact MFIA Finance Group and get a quote now, then you will see the difference why we are the market leaders for boat loans and boat finance.

Marine Finance Industry Australia will always provide you with the most competitive offers it has available on boat loans, however those with high risk, bad credit ratings or ex-bankrupts may try the 2nd chance product available. This 2nd chance option is more lenient & lax in relation to approval, however is generally a higher interest rate to cover the higher risk.
Do I need to provide anything with my boat loan application?
On settlement of a boat loan some of the following may also be requested before finalising:
1. Payslip or letter from your employer
2. Bank account details for direct debit
3. Proof of home ownership
4. Formal identification
5. Comprehensive insurance policy
6. Drivers licence (with correct addresses)
7. Rent receipt (if your renting)
8. Company common seal (if a company)

The first boat loan repayment will be due 14 days (if fortnightly) or one month (if monthly) after settlement of a boat loan. Business finance boat loan applicants have the first monthly repayment due on the day of settlement. Remaining payments are deducted from your nominated bank account. Extra payments of any amount can be made at any time by cheque, cash, direct deposit and BPAY where applicable (some fees may apply).

The Marine Finance Industry Australia boat loan is without monthly or ongoing account keeping fees. Business applicants are subject to pay any government taxes, stamp duty, REVS, FID, GST and any other government charges – varies in each state.
Once approved, there is a once only fee to cover these costs and those involved with the set up, approval and/or establishment of your boat loan. This fee varies based on finance amount, state location, & product. Contact us to get an exact quote.
There is no fee if Marine Finance Industry Australia does not approve your application.

Contact us now on 1300 761 638 and one of our professional and courteous staff will be happy to assist. Or email to finance@marineqld.com.au and ask us about any boat loan.

No worries! Drop us a line, we'll be happy to help.