If you’re considering applying for boat finance with bad credit, how much you can borrow is understandably going to be limited by different factors, such as your current level of debt. Though we offer loans for boats with bad credit that are quick and easy, we’d still suggest that you check your credit report in advance. You’re entitled to a certain amount of “free” checks each year, and it can ensure that any debt you’ve already paid off has been properly removed and isn’t needlessly clogging up your credit score. To find out more information, contact your credit reporting body.

Though it’s normal to want to look at multiple loans before making a final decision, it’s important that you avoid doing this via multiple applications. If you’re trying to finance a boat with poor credit, multiple applications can actually damage your credit rating — making it more unlikely that you’ll be able to get the loan you’re after. Ensure that you do your research first before applying.

One of the most important facets of maintaining your boat finance for bad credit is making timely and regular repayments in accordance with your loan agreement and ensuring that you don’t fall behind schedule. This can be easily done by setting up direct debits to automatically deduct payments from your bank account when they fall due.

If you’re looking to apply for a loan for a boat with bad credit, make sure you get in touch with the team at Finance One. From Darwin to Hobart, we work almost all around Australia to help people get the finance they need. Although we don’t offer boat finance for bad credit with guaranteed approval, we work closely with you to help find an appropriate solution for your situation. In addition to boat finance with bad credit, we also offer a number of other vehicle finance solutions with bad credit, including loans for cars, 4x4s, motorbikes, caravans and trailers.

Yes! Finance One will consider applicants whose credit history includes defaults, previous bankruptcies or Part IX Debt Agreements.

Yes! Finance One will consider applicants who receive any of the following:

• Family Tax A & B
• Parenting Payment
• Carer Payment
• Aged Pension
• Disability Pension
• Department of Veterans’ Affairs (DVA) Service Pension/Partner Service Pension

Our interest rates vary depending on your overall credit profile. This includes, but is not limited to, the stability of your employment and residence, your credit history, your income and your banking conduct.

Yes, you can make extra repayments or increase your repayments. However, some of our loans do have an early payout fee. We recommend you review your loan terms or contact us to confirm if an early payout fee applies to your loan.

The minimum documents we require for an application include:

• three months of bank statements (we will provide you with our secure link to bankstatements.com.au to provide your bank statements); and
• proof of your income; and
• completed application form and privacy statement; and
• ID (ie. drivers licence)