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A secured loan (personal) is what most people think of when they think about borrowing for a boat. It is, quite simply, a loan between a lender and the buyer with a regular repayment structures.
A Chattel Mortgage is suitable for business financing . It is a requirement that a business (ie an entity with an ABN)who takes out a loan and the vessel must be used for a minimum of 50% business use. Repayment options can... [click here to read more about a boat chattel mortgage]
A commercial car hire purchase is where a finance company buys the boat for a customer and then in turn grants the client use and custody of the motor vehicle on an contractually stated payment plan.
Boat leasing may be a preferred option when purchasing a boat. Leasing provides various advantages, including the ability to maintain a low repayment.
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