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Hi there, Find That Finance, your friendly and reliable Australian asset finance broker. Today I’m going to talk to you about one of my favourite topics: jet ski finance.

If you’re like me, you love the thrill of riding a jet ski on the open water, feeling the wind in your hair and the spray on your face. But you also know that jet skis are not cheap, and neither are the trailers and tow vehicles, you need to transport them. That’s why you need a smart and affordable way to finance your jet ski purchase, and that’s where we come in.

In this article, We are going to show you:

  • 7 Amazing Jet Ski Activities: Unleash the Thrill
  • How to find the best jet ski finance option for your needs and budget
  • How to compare different types of loans and lenders
  • How to save money and avoid hidden fees and charges
  • How to get pre-approved for finance assurance
  • How to apply for a free loan eligibility assessment

By the end of this article, you’ll have all the information and tools you need to make an informed decision about your jet ski finance. So, let’s get started.

7 Amazing Jet Ski Activities: Unleash the Thrill

Whether you're an adrenaline junkie or a fan of water sports, jet skiing offers endless excitement and possibilities. From zooming along open waters to exploring hidden coves and breathtaking coastlines, these powerful machines deliver an exhilarating experience like no other. Join us as we dive into the top seven thrilling and enjoyable activities that jet ski enthusiasts can't get enough of!

1. Splashin' Waves: Surf the Waters like a Pro!

One of the most exhilarating activities on a jet ski is riding the waves like a pro surfer. Harness the power of the waves by expertly manoeuvring your jet ski, experiencing the adrenaline rush as you ride the swells. With the wind in your hair and salty water splashing, you'll feel alive like never before!

2. Island Hopping: Discover Hidden Paradises!

Hop aboard your jet ski and venture to nearby islands, uncovering hidden gems and pristine beaches. Explore tucked-away coves, encounter vibrant marine life while snorkelling, and unwind with breathtaking views in every direction. Jet skiing offers the ultimate freedom to navigate even the most secluded destinations.

3. High-Speed Canyon Run: Get Your Heart Racing!

For those who crave adrenaline-pumping adventures, a high-speed canyon run is a must-try. Navigate narrow waterways, weaving through majestic canyons, and experiencing thrilling curves and bends. Push your jet ski's limits as you race along these mesmerizing routes.

4. Flyboard Fusion: Experience the Ultimate Thrill!

Take your jet ski adventures to new heights with the Flyboard Fusion attachment. Strap on the Flyboard and ride the jet-propelled board above the water surface, soaring into the sky like a superhero. Dive, twist, and flip in the air, enjoying a bird's-eye view of the world below.

5. River Cruising: Combine Nature and Adrenaline!

Who said jet skiing is just for the ocean? Explore winding river systems, carving your way through breathtaking landscapes and marvelling at nature's wonders. From lush forests to dramatic gorges, river cruising on a jet ski provides an entirely unique experience and an escape into the wild.

6. Wakeboarding Adventure: Double the Fun!

Looking to combine speed and tricks? Try wakeboarding with your jet ski! Attach a wakeboard to your jet ski and hit the water at full throttle, gaining momentum to perform impressive jumps, tricks, and spins. It's a perfect activity for those seeking an adrenaline rush while showcasing their skills.

7. Sunset Delight: Cruise into the Magic Hour!

Sometimes, the most enjoyable experience is simply riding your jet ski during the magical hours of sunrise or sunset. Feel the warm golden hues wash over you as you cruise along the calm waters, creating lasting memories and capturing stunning visuals. Embrace the tranquillity and immerse yourself in the beauty of nature.

Embrace the untamed power and breathtaking freedom that jet skiing offers. From mastering the waves to exploring hidden paradises and testing your skills in new environments, the range of thrilling activities on a jet ski is unparalleled. Remember to prioritize safety, follow regulations, and enjoy the ride - adventure awaits with every turn of the throttle! If you like Dave in this post The Campervan, Jet Ski and 4X4 - the adventures of Dave get all three.

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How to find the best jet ski finance option for your needs and budget

The first step to finding the best jet ski finance option is to know what you want and what you can afford. Here are some questions you should ask yourself before you start shopping around:

  • What kind of jet ski do you want? New or used? Brand, model, size, features, etc.
  • How much do you want to spend on your jet ski? What is your maximum budget?
  • How much can you afford to repay each month? What is your income and expenses?
  • How long do you want to repay the loan? What is your preferred loan term?
  • Do you have a good credit history? Do you have any defaults or bankruptcies?
  • Do you have any assets or savings that you can use as security or deposit?
  • Do you have any other debts or loans that you need to consider?

Once you have a clear idea of what you want and what you can afford, you can start looking for the best jet ski finance option for your situation. There are two main types of loans that you can choose from: secured and unsecured loans. Read more Use Find That Finance to find your Jet Ski Loan.

Secured loans.

A secured loan is a loan that is backed by an asset, such as your jet ski, trailer, tow vehicle, or other property. This means that if you fail to repay the loan, the lender can repossess and sell the asset to recover their money. Secured loans usually offer lower interest rates and higher borrowing limits than unsecured loans, because they pose less risk to the lender. However, they also come with some drawbacks, such as:

  • You need to have an asset that is worth enough to secure the loan.
  • You may lose your asset if you default on the loan.
  • You may have to pay extra fees and charges for valuation, registration, insurance, etc.
  • You may have less flexibility in choosing your loan term and repayment schedule.

Some examples of secured loans are:

  • Jet ski loans: These are loans that are specifically designed for buying jet skis. They usually require the jet ski as security, but some lenders may also accept other assets or deposits. Jet ski loans typically have competitive interest rates and flexible terms, but they may also have strict eligibility criteria and conditions.
  • Car and 4X4 loans: These are loans that are used for buying cars or 4X4 vehicles that can tow your jet ski. They usually require the car or 4X4 as security, but some lenders may also accept other assets or deposits. Car and 4X4 loans generally have lower interest rates and longer terms than jet ski loans, but they may also have higher fees and charges.
  • Personal loans: These are loans that can be used for any personal purpose, including buying a jet ski, trailer, tow vehicle, or anything else. They can be secured by any asset that the lender accepts, such as your car, boat, etc. Personal loans may have higher interest rates and similar terms to jet ski, car and 4X4 loans, but they may also have more flexibility and fewer restrictions, but it all depends on your credit score.

Unsecured loans

An unsecured loan is a loan that is not backed by any asset. This means that if you fail to repay the loan, the lender cannot repossess or sell anything to recover their money. Instead, they can take legal action against you or report you to credit agencies. Unsecured loans usually offer higher interest rates and lower borrowing limits than secured loans because they pose more risk to the lender. However, they also come with some benefits, such as:

  • You don’t need to have an asset that is worth enough to secure the loan.
  • You don’t risk losing your asset if you default on the loan.
  • You don’t have to pay extra fees and charges for valuation, registration, insurance, etc.
  • You may have more flexibility in choosing your loan term and repayment schedule.

Some examples of unsecured loans are:

  • Personal loans: These are loans that can be used for any personal purpose, including buying a jet ski, trailer, tow vehicle, or anything else. They are not secured by any asset, but they may require a good credit history and income. Personal loans may have higher interest rates and shorter terms than secured loans, but they may also have more flexibility and fewer restrictions.
  • Credit cards: These are cards that allow you to borrow money up to a certain limit and repay it over time. They are not secured by any asset, but they may require a good credit history and income. Credit cards usually have the highest interest rates and fees of all loan options, but they may also offer rewards, cashback, or other benefits.

How to compare different types of loans and lenders

The next step to finding the best jet ski finance option is to compare different types of loans and lenders. There are many factors that you need to consider when comparing loans and lenders, such as:

  • Interest rate: This is the percentage of the loan amount that you pay as interest each year. The lower the interest rate, the less you pay in total. However, you also need to consider the comparison rate, which includes the interest rate and other fees and charges. The comparison rate gives you a more accurate picture of the true cost of the loan.
  • Fees and charges: These are the extra costs that you pay on top of the interest rate. They may include application fees, establishment fees, valuation fees, registration fees, insurance fees, monthly fees, annual fees, late fees, early repayment fees, etc. The higher the fees and charges, the more you pay in total.
  • Loan amount: This is the amount of money that you borrow from the lender. The higher the loan amount, the more you pay in interest and fees. However, you also need to consider the loan-to-value ratio (LVR), which is the percentage of the value of the asset that you borrow. The lower the LVR, the less risk you pose to the lender and the more likely you are to get approved.
  • Loan term: This is the length of time that you must repay the loan. The longer the loan term, the lower your monthly repayments. However, you also pay more interest and fees in total. The shorter the loan term, the higher your monthly repayments. However, you also pay less interest and fees in total. Typically loan terms for Jet Skis and related assets are 36 to 84 months.
  • Repayment schedule: This is how often and how much you repay the loan. You may have a choice between weekly, fortnightly, or monthly repayments. You may also have a choice between fixed or variable repayments. Fixed repayments are set at a certain amount for the entire loan term. Variable repayments may change depending on the interest rate or other factors.
  • Flexibility: This is how much freedom and control you have over your loan. You may want to look for features such as redraw facilities, offset accounts, extra repayments, repayment holidays, etc. These features allow you to access your extra funds, reduce your interest charges, or adjust your repayments according to your needs.
  • Customer service: This is how well the lender treats you as a customer. You may want to look for aspects such as online access, phone support, email support, chat support, etc. These aspects allow you to manage your loan easily and conveniently.

To compare different types of loans and lenders, you can use online tools such as loan calculators, comparison websites, or reviews. These tools allow you to enter your details and preferences and see how different loans and lenders stack up against each other.

How to save money and avoid hidden fees and charges

The third step to finding the best jet ski finance option is to save money and avoid hidden fees and charges. There are many ways that you can do this, such as:

  • Shop around: Don’t settle for the first offer that you see or hear. Compare different types of loans and lenders and look for the best deal that suits your needs and budget. But shopping around and making multiple applications over a short period is likely to reduce your credit score and have negative effect on your ability to borrow in the future. That’s why we recommend you use a Asset Finance Broker like find That Finance as they have access to multiple lenders and provide a free loan eligibility assessment that will not impact on your credit file.
  • Negotiate: Don’t be afraid to ask for a better deal or a discount from your lender. You may be able to lower your interest rate, waive some fees, or get some extra features.
  • Read the fine print: Don’t sign anything until you read and understand all the terms and conditions of your loan contract. Look out for any hidden fees, charges, penalties, or clauses that may cost you more money or limit your options.
  • Stick to your budget: Don’t borrow more than you need or can afford. Use a budget planner to track your income and expenses and set realistic goals for your savings and repayments.
  • Make extra repayments: If possible, try to make extra repayments on your loan whenever you can. This will reduce your interest charges, shorten your loan term, and save you money in the long run.

Refinance: If your circumstances change or if you find a better deal elsewhere, consider refinancing your loan with another lender. This, may allow you to lower your interest rate, waive some fees, or get some extra features. However, you also need to consider the costs and benefits of refinancing, such as exit fees, application fees, valuation fees, etc.

How to apply for a free loan eligibility assessment

The fourth step to finding the best jet ski finance option is to apply for a free loan eligibility assessment. This is another service that we offer at Find That Finance, where we help you find the best loan option and lender for your needs and budget. This saves you time and hassle, as we do all the hard work for you. Here’s how it works:

  • You contact us via phone, email, chat, or online form and tell us about your jet ski finance needs and preferences.
  • We search our panel of multiple lenders and compare their products and offers.
  • We present you with the best loan option and lender that matches your criteria.
  • We guide you through the application process and assist you with any queries or issues.
  • We liaise with the lender and the seller on your behalf and ensure a smooth and fast settlement.

To apply for a free loan eligibility assessment, all you need to do is contact us today and let us know how we can help. We are available 7 days a week from 8 am to 7 pm AEST. We are friendly, professional, and experienced in jet ski finance. We will make sure that you get the best deal possible and enjoy your jet ski as soon as possible.

How to get pre-approved for finance assurance

The final step to finding the best jet ski finance option is to get pre-approved for finance assurance. This is a service that we offer at Find That Finance, where we assess your eligibility and creditworthiness for a loan before you apply. This gives you several advantages, such as:

  • You know how much you can borrow and what interest rate you can expect.
  • You can shop around with confidence and negotiate better deals with sellers.
  • You can avoid multiple credit enquiries that may affect your credit score.
  • You can speed up the approval process and get your jet ski and trailer sooner.

To get pre-approved for finance assurance, all you need to do is fill out a simple online form on our website. We will then contact you within 24 hours and let you know if you are pre-approved or not. If you are pre-approved, we will send you a conditional approval letter that you can use as proof of your finance assurance. This letter is valid for 30 days and subject to final verification of your documents and information.

 Lets look at a worked example

Below is a table showing the loan repayment and total interest for various terms, based on a 7.5% (only to keepp the maths simple) interest rate for an $18,000 loan:

Loan TermMonthly RepaymentTotal RepaymentTotal Interest Paid
36 months $556.88 $20,008.29 $2,008.29
48 months $435.94 $20,892.14 $2,892.14
60 months $359.10 $21,543.95 $3,543.95

This table presents a comparison of different loan terms, namely 36 months, 48 months, and 60 months, at a fixed interest rate of 7.5% for an $18,000 loan amount. It provides important educational information that helps potential borrowers understand the impact of the loan term on monthly repayments, total repayment amounts, and total interest paid.

Firstly, looking at the monthly repayment column, we can see that as the loan term increases, the monthly repayment decreases. For example, with a 36-month term, the monthly repayment is $556.88, whereas with a 60-month term, it reduces to $359.10. This means that selecting a longer loan term allows for smaller monthly payments, which can be beneficial for individuals on tight budgets or those who prefer lower monthly financial obligations.

However, it is important to consider the total repayment amount over the entire loan term. The total repayment includes both the principal (loan amount) and the interest paid. As the loan term extends, the total repayment amount also increases. In this case, the total repayments for 36, 48, and 60-month terms are $20,008.29, $20,892.14, and $21,543.95, respectively. So, while longer loan terms result in lower monthly repayments, they lead to a higher total repayment amount. Borrowers should carefully consider their financial situation and long-term affordability before selecting a loan term.

In terms of the total interest paid, a longer loan term typically results in significantly higher interest payments. For the same $18,000 loan, the total interest paid for 36, 48, and 60-month terms are $2,008.29, $2,892.14, and $3,543.95, respectively. This indicates that borrowers who opt for longer loan terms end up paying more interest over the life of the loan. It is crucial to evaluate whether the benefit of lower monthly repayments outweighs the additional interest paid in the long run.

When considering advantages and disadvantages, longer loan terms offer immediate relief with lower monthly repayments, making them more feasible for individuals with limited monthly income. However, it is important to balance this advantage with the fact that longer terms lead to higher total repayment amounts and increased interest paid over time. In contrast, shorter loan terms result in higher monthly repayments but allow borrowers to save on interest payments and repay the loan sooner.

Opting for a shorter loan term can be advantageous if the borrower has a stable income and can afford higher monthly repayments. This approach allows borrowers to pay off the loan sooner, reduce the total repayment amount, and save on interest. On the other hand, longer loan terms can be beneficial for those who prioritize lower monthly repayments over long-term interest savings.

Ultimately, borrowers should carefully assess their financial situation, income stability, and personal goals before selecting a loan term. This analysis provides essential insights to help readers make well-informed decisions regarding their loan options and ensure they align with their financial considerations. We recommend you read 

Do not fall for the Interest Rate TRAP!

 

 Get in touch with us today and let us help you make your dream a reality!

Call 1300 378 021 0r Apply/Enquire Now

Frequently Asked Questions

Q: What is jet ski finance?

A: Jet ski finance is a type of loan that allows you to buy a jet ski and pay it off over time. Jet ski finance can also include the trailer and tow vehicle that you need to transport your jet ski.

Q: Why should I use Find That Finance for my jet ski finance?

A: Find That Finance is your one-stop shop for all your jet ski finance needs. We offer free loan eligibility assessments, free pre-approval for finance assurance, multiple lenders, competitive rates, flexible terms, and excellent customer service. We are friendly, professional, and experienced in jet ski finance. We will make sure that you get the best deal possible and enjoy your jet ski as soon as possible.

Q: How do I apply for jet ski finance with Find That Finance?

A: Applying for jet ski finance with Find That Finance is easy and convenient. You can contact us via phone, email, chat, or online form and tell us about your jet ski finance needs and preferences. We will then search our panel of multiple lenders and compare their products and offers. We will present you with the best loan option and lender that matches your criteria. We will guide you through the application process and assist you with any queries or issues. We will liaise with the lender and the seller on your behalf and ensure a smooth and fast settlement.

Q: What are the requirements for jet ski finance with Find That Finance?

A: The requirements for jet ski finance with Find That Finance may vary depending on the type of loan and lender that you choose. However, some of the common requirements are:

  • You must be at least 18 years old.
  • You must be an Australian citizen or permanent resident.
  • You must have a valid driver’s license.
  • You must have a regular income and stable employment.
  • You must have a good credit history or a guarantor.
  • You must have an asset or deposit that can secure the loan (for secured loans only)

Q: How much can I borrow for jet ski finance with Find That Finance?

A: The amount that you can borrow for jet ski finance with Find That Finance depends on several factors, such as:

  • The value of the jet ski, trailer, and tow vehicle that you want to buy.
  • The type of loan and lender that you choose.
  • Your income and expenses
  • Your credit history and score
  • Your asset or deposit that can secure the loan (for secured loans only)

To find out how much you can borrow for jet ski finance with Find That Finance, you can contact us today and apply for a free loan eligibility assessment. We will assess your situation and let you know how much you can borrow and what interest rate you can expect.

Q: How long does it take to get approved for jet ski finance with Find That Finance?

A: The approval time for jet ski finance with Find That Finance may vary depending on the type of loan and lender that you choose. However, we aim to make the process as quick and easy as possible. If you apply for a free pre-approval for finance assurance, we will let you know if you are pre-approved within 24 hours. If you apply for a full loan application, we will let you know if you are approved typically within 24 to 48 hours. Once you are approved, we will arrange the settlement with the lender and the seller within 1 business days.

Q: What are the benefits of getting pre-approved for finance assurance with Find That Finance?

A: Getting pre-approved for finance assurance with Find That Finance is a smart move if you are looking for jet ski finance. It gives you several benefits, such as:

  • You know how much you can borrow and what interest rate you can expect.
  • You can shop around with confidence and negotiate better deals with sellers.
  • You can avoid multiple credit enquiries that may affect your credit score.
  • You can speed up the approval process and get your jet ski sooner.

To get pre-approved for finance assurance with Find That Finance, all you need to do is fill out a simple online form on our website or call us 1300 378 021. We will then contact you within 24 hours and let you know if you are pre-approved or not.

Q: How do I repay my jet ski finance with Find That Finance?

A: Repaying your jet ski finance with Find That Finance is easy and convenient. You can choose from weekly, fortnightly, or monthly repayments. You can also choose from fixed or variable repayments. Fixed repayments are set at a certain amount for the entire loan term. Variable repayments may change depending on the interest rate or other factors. You can make your repayments via direct debit, BPAY, cheque, or cash. You can also make extra repayments or pay off your loan early without any penalty (subject to the lender’s terms and conditions).

Q: What if I have bad credit or no credit history? Can I still get jet ski finance with Find That Finance?

A: Yes, you can still get jet ski finance with Find That Finance even if you have bad credit or no credit history. We understand that everyone’s situation is different and that sometimes things happen that are beyond your control. That’s why we work with a range of lenders who specialise in bad credit or no credit history loans. They may be able to offer you a loan based on your current income, employment, and affordability. However, you may have to pay a higher interest rate, provide a larger deposit, or have a guarantor to secure the loan. That’s why using the free eligibility loan assessment is a great idea.

To find out if you qualify for jet ski finance with Find That Finance despite having bad credit or no credit history, you can contact us today and apply for a free loan eligibility assessment. We will assess your situation and let you know if you have any options available.

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