By: Peter Quilty

Presented by
  • Trade-A-Boat

In the second instalment of our marine finance series we examine boat finance pre-approval.

Ready to buy? Want to hit the boat show season up-and-running for the best deal?
Here are some pearls of wisdom from Credit One’s managing director and founder, Michael Rojek, on getting your boat and marine finance pre-approved.

Arm yourself with  pre-approved finance

"It’s easy to get caught up in the excitement of the boat shows, the crowds, the noise, and the hot sun," says Rojek.

"And it can be easy to sign on the dotted line for something that might be a little out of your reach in terms of price, or conversely, even miss out on your perfect watercraft because you weren’t sure if you could afford it or not."

However, Rojek adds that more and more savvy boat buyers are making the smart choice and getting finance pre-approved prior to doing the ‘boat show circuit’.

"Know exactly how much you want to spend. An online calculator, similar to that listed on our website (, will provide the ability to predetermine how much you can borrow based on a payment amount and term," says Rojek.

Entering your loan details on Credit One’s Loan Repayment Calculator allows you to submit your Loan Amount, Loan Term, Balloon, Interest Rate and Payment Frequency (weekly, monthly, yearly) prior to pressing Calculate.

"Take the time to consider all expenses and plan an accurate budget. Don’t forget to take into consideration registration, maintenance and insurance costs of the new boat, as well as allowing a buffer for unexpected expenses at home such as a change in overtime or seasonal changes in income and expenses."

Credit One specialises in financing boats, yachts and sailing boats, new and used jet skis and commercial fishing vessels.It offers such marine finance options as secured boat loans, marine chattel mortgage, private sale boat loans, boat personal loans, and business boat finance.

Michael adds that pre-approved finance allows you to negotiate with the dealer as a ‘cash buyer’ and may well result in a better price than a lot of ‘subject to finance clauses’.
"Choose a broker, like Credit One, that lets you compare all of your finance options rather than just the one or two choices that dealer or a bank may offer," says Mr Rojek.

"Credit One talks to over thirty of Australia's leading financiers. We compare all the variables including establishment fees, interest rates and early termination fees, helping you secure a great overall loan package rather than just a rate that looks cheap but may come with hidden fees."

Mr Rojek adds that all of this can be done from the comfort of your own home: "Simply apply online and one of our boat finance specialists will give you a call to discuss budget, ideal make and model and approximate pricing, and then negotiate a great finance deal for you.

"This gives you more time to relax and focus on the exact build and optional extras for that perfect boat, and plan your first trip away," says Rojek.

"The best thing about this is that if you decide not to proceed or simply change your mind, you don’t owe anyone a cent. It’s a completely obligation-free service."
The Online Loan Application page simply requires you to submit your details, Privacy Consent and Finance Details prior to receiving an Application Confirmation.

Footnote: Credit One offers premium boat loans and marine finance from the smallest jet ski and trailerboat to the largest fishing vessel or charter yacht.

Its boat finance specialists provide the fastest possible service whilst still providing the competitive products that have made Credit One an award-winning broker. Plus, its premium, low rate boat loan approvals can quite often be arranged the same day.

Financiers assess boat loan applications on a case-by-case basis. If you're looking for a slightly older or unique boat, you can call Credit One's boat finance specialists to obtain a special obligation-free quote.

Best of all, applying for a low-rate Credit One express boat loan is easy! Its expert boat finance specialists are available online or by phone six days a week with an enquiry.

You can also obtain finance to purchase a 'private sale' boat and, being an authorised Club Marine insurance partner, Credit One can organise insurance.

Call Credit One on 1300 273 348 or visit them online at

Check out the full feature in issue #505 of Trade-a-Boat magazine. Subscribe today for all the latest camper trailer news, reviews and travel inspiration. 



Want the latest stories delivered straight to your inbox? Sign up for the free TradeBoats e-newsletter.