Chris Reid Jul 10, 2023

The implication when you’re in the market to buy a boat - whether it’s your first or tenth - is that you have something of a passion to get out on the water and have fun. But if it is your very first time shopping for a boat, there are a few key things you have to consider before you’ve even started browsing

Here are the biggest factors for you to think about, which should give you a great idea of both where to start and also how to make sure you don’t end up buying a lemon.


Boat finance and budget


Deciding on the amount you want to spend and how you’ll finance your new boat are the most important elements in the equation.

If you’re only planning on spending a thousand dollars, a tinnie is probably as far as you’ll get, while conversely shelling out a couple of million and you’re cruising on a sweet 56-footer. And then there are the countless options in between!

You also need to think about what you want to use the boat for primarily. For example, speed and wake boats are very different in shape and style to fishing boats. Further, the number of passengers allowed will differ a lot depending on the boat’s size. You may even be in the market for a houseboat - something you can holiday on while mooring a couple of jet skis and chugging slowly around Eildon.

Whatever the case may be, check out how low your monthly repayments could be using our free online boat finance tool! If you’re happy with the repayments (we know you will be), have a chat with us and we’ll sort out boat finance pre-approval so you have negotiating power when you’re ready to buy.


Should you buy a new or used boat?


This may well come down to how much you wish to spend, but we suggest opting for something new. Why? Same reason buying a new car is usually the better choice - you’ll be protected by a manufacturer’s warranty, and there are no unknowns either. That is, if you’re buying a used boat, you don’t know how well it’s been treated and maintained.

If for whatever reason you do decide to buy used, we can’t stress enough how important it is to get it inspected by a professional. There are quite a few pre-purchase boat inspection providers out there, so take advantage of their services. Better to pay a few hundred bucks to learn it’s on its last legs than fork out the full price and find out a kilometre or two offshore!


Speak with us today to arrange boat finance


At Stratton Finance, we’ve been helping customers just like you to secure boat finance at the lowest possible rates for more than 20 years now. Whatever style or shape you’re after, we’ll tap into our huge network of lenders to find the very best finance deals available to suit your needs.

Give the friendly team here a call today on 1300 787 288 if you have any questions for us, or to discuss finance for your new boat. Alternatively, you can send us a message online and we’ll be in touch with a response shortly.

We can also work with you to arrange finance for cars, caravans and RVS, and even commercial equipment. So get in touch with us today for all your financing needs.


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