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Commercial Boat Loans

Australia has a huge coastline, reefs, bays and harbours, rivers and lakes there are many businesses that operate on the water. have a number of commercial boat financing options including loans, hire purchase, Chattel Mortgage and Finance Leases to cater to commercial boat sales.

Hire Purchase

  • Boat Hire Purchase is still a rental agreement but differs from Finance Lease in that the goods become yours (or your businesses) once all the terms of the agreement have been completed.
  • Ownership of the boat remains with's lenders until the final payment is made.
  • For tax purposes, however, you may be able to claim depreciation and interest paid on your business income. Talk to your accountant with regards to your eligibility for this.
  • There is also the option of including an upfront deposit, trade-in or set a balloon payment so you can reduce the rental commitment, or you may choose to structure the rentals to clear the debt in full over the term of the agreement.

Chattel Mortgage

  • This is a charge for goods to be financed, allowing businesses operating under a ‘cash accounting’ basis to claim the full input tax credit from GST expenses.
  • These Boat loan structures can be tailored on a similar basis to Finance Lease and Hire Purchase facilities.

Finance Lease

  • Under a Finance Lease agreement, you lease your nominated craft for an agreed term and rental amount.
  • Residual value is agreed upon to reflect the boat’s value at the end of the term.
  • Although the boat is owned by the finance company, the lease rentals are tax-deductible to you so long as the vessel is used in connection with producing an assessable income.
  • At the end of the lease, you can either make an offer to purchase the boat, trade-in for a replacement, return it, or extend the lease for another term.

If you are looking for a commercial boat but still have a concern about which option you should select, contact our experienced finance consultant on 1300 880 954 today!

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