Boat Loans: Looking for a boat but short on funds? With Nifty for boat loans up to $10,000!

Andrew Bell

Last updated: July 15, 2020

• 8 minute read

8 minute read

Set sail with boat loans with help from Nifty

Yearning for the open sea? Have a hankering for some fresh fish? Just want to get away from things? Well, channel your inner Jack Sparrow and get a boat! Depending on the variety, boats enable you to explore a whole host of new activities. Think deep-sea fishing to open-water Kayaking or water skiing to wakeboarding; whatever you want, you can do it with a boat! Don’t have enough funds? Don’t sweat! With boat loans through Nifty, you could be gliding across those waves in no time.

“Who’s Nifty?” You may ask yourself. Well, we’re an Australian based lender looking to shake up the game. We offer online personal loans from $300 to $10,000 aimed to suit your small to medium financial needs. Need something a little larger? We’ve got just the thing! Nifty also offers a unique broker-finding service that allows our clients to go further and apply for loans from $10,000+, though we’ll get into this later. In the mean-time, let’s get into some boats! 

Boats, big and small

As you’ll already know, boats can come in all different shapes and sizes, from a small paddle boat to a 15m yacht, they all have their uses. Following this point, though, it is common that you will need to fork out the ‘big bucks’ for a larger boat. There is a reason they are often labelled as ‘holes in the water where you throw your money’. Now, even with this reputation, purchasing a boat does not have to mean breaking the bank; in fact, with boat loans through Nifty, becoming a boat owner is something you could even look forward to. We have compiled a quick list of three different crafts that we think provide the most versatility and best bang for your buck.

1. The versatile Kayak

To some, labelling a Kayak as a boat may seem like a stretch, though, when you think about it, why would you think otherwise? It is a craft designed for traversal over water. Now, it may not be the most elegant option, but there is definitely an argument in saying it is one of the most versatile of its brethren. 

With a lightweight and sleek frame, there aren’t too many places you cannot take it. Simply plonk her in and you’re good to go. Have a river or dam close by? Hope on in! If you’re brave enough, feel free to take it out into the open ocean. Make sure your arms are up for it though, as the only form of propulsion is you and the last thing you want is to be stuck out there. 

Depending on your interests, there are a few different types of Kayaks that you may want to look into. If you’re looking at taking it slow and cruising, you will be fine with an inflatable or beginner Kayak, either of these will set you back roughly $100 to $200. Looking to do some fishing? Pick up a fishing Kayak for around $400, these will be a little sturdier and offer a hatch for your equipment. Want to go extreme? White water and touring Kayaks are significantly more expensive, being around $1,000 and $2,000 respectively, though the increased stability and durability they offer is needed for those looking to chase that adrenalin. If you’re interested in this type of boat but are short on funds, small boat loans through Nifty will be a great option to get you in the water!

1. The true-blue Tinnie

Nothing says quintessential Australian like sinking a few tins in a Tinnie. And by tins, we mean soft-drink…Obviously. On a serious note, though, a Tinnie, or otherwise known as an Aluminium Boat, is the perfect option for those looking for a more laid-back boating experience. With a simple aluminium body and often sporting a singular motor, a Tinnie is often seen as an entry point into the boating world.

Due to their low power and smaller frame, it is best to keep these types of boat in calm waters; so, sticking to rivers, creeks and dams will be a good option. Although, as they are bigger and more stable than the typical Kayak, Tinnies provide a bigger and more comfortable platform for those looking to fish. Along with this, they are more than capable of towing for simple water sports. Summer days at the dam have never been better!

As with most boats, the larger and more complex, the more expensive they will be. Given the relative simplicity of a Tinnie, they are often the fraction of the cost of the average boat. Depending on the horsepower of the motor, the average cost for this type of boat is around $4,000 to $5,000. Although, the price rises steeply with more or higher power motors. Interested in a Tinnie? Nifty offers medium-sized boat loans that can service the cost for these useful crafts!

1. The family-oriented Cabin Boat

Coming in at the most expensive on the list, Cabin Boats are essentially bigger and more powerful tinnies. Featuring a closed deck over the boat’s bow, the boat allows a convenient storage space and easy navigation. Cabin Boats are usually built of fibreglass and aluminium, and the minimum length is around 4.75 meters. Due to their increased space and size, Cabin Boats are the perfect option for larger groups of people looking to get over the open ocean. Dreaming of deep water fishing? This is the boat for you. 

With all this extra space and comfortability, Babin Boats come at a steep cost. The average price for a smaller Cabin boat sits between $20,000 and $30,000. Looking at a Cabin boat for the family and need finance? Well, with the help of our broker-finding service, we could put you in touch with a broker that can help you apply for larger boat loans!

More on Nifty’s fast Personal Loans

With all of this talk of boats, we would like to squeeze in a little about who we are and what we can offer regarding boat loans. As touched on earlier, Nifty is an Australian based lender offering personal loans from $300 to $10,000 completely online. “What’re the benefits of this?” You may ask. Well, think faster applications, faster processing times and fast outcomes, how good is that?! In fact, if you apply during regular business hours, our team will aim to have an outcome within 60-minutes! 

The beauty of these loans is that they can be used for almost anything! Think boat loans to medical loans; dental loans to car repair loans; Nifty has it all! For greater reference, shown below is a break-down of the offered loan types and their respective loan amounts: 

Fast Personal Loans Criteria

Interested in applying for one of our fast personal loans for your boat? Fantastic! Before you apply, it is worth checking that you meet our base criteria. To be eligible to apply, you must:

1. Must 18 years or older;
2. Have Australian citizenship or permanent residency;
3. Be receiving a regular work income into a personal bank account for the last 3-months;
4. Have an active mobile and email address.

About our broker service

As our in-house funded loans only range up to $10,000, we have partnered with a broker in an attempt to bridge the gap for our client’s looking for something more. Our broker of choice? Diversifi Finance. A highly-awarded finance broking company, supported by Choice Aggregation Services, Diversifi is one of Australia’s foremost team of brokers. 

Why did we choose them?

Using state-of-the-art software, the Diversifi broker team is able to find finance solutions efficiently, matching your unique financial needs. All brokers have extensive experience in the finance sector and commit to ongoing training, as well as holding Australian Credit Licenses.

With the help of Diversifi, our clients are able to apply for loans of $10,000+. Have your eye on a new boat? Enquire through Nifty and Diversifi will be able to assist you in applying for boat loans online.

Broker Service Criteria

Of course, we’d like to help everyone, though, our broker-fiding service works a little differently than our personal loans. Our brokers require that you meet the following requirements before applying:

• Must be over 18 years old;
• Be an Australian citizen or permanent resident;
• Have a drivers licence;
• Be receiving a regular work income into a personal bank account for the last 3-months;
• Have a credit score of 300+ (not sure what your credit score is? You can still apply and we can help you find out).

And that’s it! If you’re interested in this service, scroll the top of the page and select the ‘over $10,000’ option. In a few short steps, you could be on your way to sourcing a new boat loan!

Want to know more?

If there is anything else you want to know, don’t be a stranger, give us a call on 1800 471 328 or send us a message from our contact us page, and one of our friendly customer service staff will be able to assist you. 

Want more of Nifty? You can also follow us on Pinterest, Instagram, Twitter and also keep up to date with the latest personal finance and lifestyle trends via our blog.