What is a boat loan?

At Nimble, we offer boat loans from $5,000 to $25,000. But how do boat loans work?

  • A Nimble boat loan is an unsecured form of credit, you’ll have your money in your account in under 60 minutes on acceptance*

  • You pay back your loan with loan terms of 6 to 48 months

  • Your personalised interest rate is fixed for your whole loan term, and don’t worry about any monthly account keeping fees

If you’re finally ready to take the dive and buy a new or used boat, a Nimble boat loan is your best friend! 

A boat loan is borrowed money that you can use to buy your boat today and pay us back in regular, manageable repayments over time - getting you on the water sooner.

Whether it’s your dream yacht, jet ski or even a fishing boat - for boat loans in Australia, choose Nimble.

Estimate your repayments

2 months23 months

Your repayment frequency will typically align with how often you get paid

Fixed repayment amount


Interest rate

47.6158% p.a.

Comparison rate

65.6597% p.a.

The repayment calculator is for illustrative purposes and does not comprise a quote or guarantee of approval.

There is a $400 Establishment Fee for Personal Loans between $2,050 and $5,000.

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Top tips for buying a new boat

Research, research, research!

Consider what kind of vessel you’re after, how many people you need to carry onboard, where you’ll store it and whether your car can tow it. Make a list of all your add-on costs, including things like insurance, licence, registration and mooring, then set yourself a budget. Next up is inspecting and test driving, making sure it’s the right fit for you and is ship-shape. 

Finally, get excited! If you’ve planned ahead, you’ll be smooth sailing.

Bonus tip: If you’re buying a personal watercraft like a jet ski, you can save money by buying an older model or purchasing it outside of the peak season. 

Buying a new or old boat?

Choosing a preloved boat could be a great option to help cut down costs and get you on the water for less money. Just consider that you’ll need to be extra thorough in your inspection, ask the seller every question you can think of. 

Whether it’s a new or used boat, a Nimble boat loan has you covered.

How can I check the value of the boat I’m buying?

Check out the condition of the engine and external appearance, do you need repairs? Do your research on what brands and manufacturers are reliable and valuable. Consider what materials the craft is made of and how old it is. A new boat will depreciate roughly 10% in its first year, and 6-8% every year after that.1


To apply for a boat loan, you’ll fill out our 100% digital application (ie. no annoying paperwork). Gather your personal identification details and have your phone at the ready in case we need to give you a quick call to confirm any details. After you submit your application, we’ll be in touch with your outcome shortly, so sit tight and dream of the high seas.

Our expert customer service team have been approving loans since 2005, our team endeavour to get back to you as soon as possible. Once you have been approved and you accept the loan offer, you’ll have your entire loan sum transferred into your account in under an hour.

In some cases, you can get a mortgage on your boat, though Nimble does not offer this service. A Nimble boat loan allows you to pay off the entire amount lent in manageable repayments in under 48 months, not decades of debt.

Your credit history is only part of the puzzle that makes up the decision making process in granting your loan. Our team has been in the biz for years and can see whether you have the financial stability to comfortably repay, there is no one-size-fits-all credit score that can guarantee you a Nimble boat loan.

Our team undertakes a credit check on every single customer applying for a Nimble boat loan. If you are bankrupt, in a debt agreement or have multiple adverse listings on your credit file your application will be declined. But your credit history is not an automatic “yes” or “no”.

Our expert team considers your financial situation and history, your credit score and the boat you are wanting to purchase. Keep your phone handy in case we need to give you a quick call.

To speed up the application process, gather all of your relevant personal identification details, including your driver licence or Australian passport and internet banking credentials. If you have already selected the boat you wish to buy, keep any details on it handy.

Your boat loan term will be 6 to 48 months. How long is a typical boat loan? This totally depends on the size and price of your water vehicle. Give us a call on 133 156 and we can help give you an idea of how long you could expect to have your boat loan with Nimble.

The information on this website is general in nature and does not take into account your objectives, financial situation or needs.

1 https://www.boattrader.com/resources/boater-envy-new-vs-used/

*Terms, conditions, fees and charges apply, and are subject to change. Applications are subject to Nimble’s credit approval criteria. Redraw not available. Funds will generally be transferred within 60 minutes of the loan contract being signed between 9:00 am and 4:30 pm AEST on business days. Clearance times are subject to your bank.

Warning about borrowing