What is the lowest credit score for a boat loan?
Credit score requirements for boat loans in Australia can vary among banks and financial companies. The credit rating accepted for approval of a loan application is influenced by many factors such as the lender's policies, the borrower's financial history, income, and other criteria. Commonly, lenders may consider a credit score of around 600 to 700 as a baseline for approving a marina loan, but some financial companies may be more flexible or stringent.
You can find out your credit rating by submitting an online application to one of the credit agencies, like Equifax, Experian, or Illion. Every Australian can count on one such statement free of charge every 12 months.
As an alternative, you can also take out a personal loan. Your possible expenses:
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 5,000 | 8.45% | 229 |
| 5,000 | 15.45% | 418 |
| 5,000 | 22.45% | 608 |
| 10,000 | 8.95% | 485 |
| 10,000 | 15.95% | 864 |
| 10,000 | 22.95% | 1,243 |
| 15,000 | 9.45% | 768 |
| 15,000 | 16.45% | 1,337 |
| 15,000 | 23.45% | 1,905 |
| 20,000 | 9.95% | 1,078 |
| 20,000 | 16.95% | 1,836 |
| 20,000 | 23.95% | 2,595 |
You can also get more detailed calculations by using our financial calculators.
Am I eligible for boat finance with bad credit?
Requirements for borrowers depend on the financial company, but in Australia usually include:
- have 18 years or be older
- have a regular income of at least 300-500 dollars weekly (after tax)
- have Australian citizenship or permanent residence
- not be a bankrupt
The situation is similar regarding documents, the most required include:
- ID like a passport or driver's license
- banking statements for the last 6-12 months
- 2-3 current payslips
See also:
- Amex cards in Westpac Bank
- Balance transfer from Bankwest
- Bank of Melbourne: credit card points
- Bank of Melbourne: fraud contact
- Bank of Melbourne: lost card, what should I do
Details of companies offering the financial services:
Bendigo and Adelaide Bank
Head office’s address: The Bendigo Centre
Contact center: 1-300-361-911
Phone: 61-2-8023-5417
Mail address: The Bendigo Centre PO Box 480 Bendigo Vic 3552
Web-site: http://www.bendigobank.com.au/
Swift code: BENDAU3B
Stock code: BEN
ABN: 11 068 049 178
BSB: 633-300
CarLoans
Head office’s address: Australia
Contact center: 1300-889-669
Web-site: https://www.carloans.com.au/
CommBank
Head office’s address: 201 Sussex Street
Contact center: 13-22-21
Phone: 61-2-8055-4001
Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street
Web-site: https://www.commbank.com.au/
Swift code: CTBAAU2S
Stock code: CBA
ABN: 48 123 123 124
Finance One
Head office’s address: 49 Dalrymple Road
Contact center: 611800346663
Web-site: https://financeone.com.au/
Fox Finance Group
Head office’s address: The Corporate Centre, 13
Web-site: https://www.foxfinancegroup.com.au/
Greater Bank
Head office’s address: 103 Tudor Street
Contact center: 13 13 86
Phone: +612 4921 9111
Mail address: Greater Bank PO Box 173, Hamilton NSW 2303
Web-site: https://www.greater.com.au/
Swift code: ASLLAU2CGBS
ABN: 88 087 651 956
BSB: 637 000
Great Southern Bank (former CUA)
Head office’s address: Brisbane
Phone: 1300-705-750
Web-site: https://www.greatsouthernbank.com.au/
BSB: 814-282
Latitude Financial Services
Head office’s address: 130 Lonsdale St
Contact center: 1-800-005-809
Phone: 61-287-478-178
Mail address: Level 18, 130 Lonsdale St, Melbourne, VIC 3000
Web-site: https://www.latitudefinancial.com.au/
Swift code: LATFAU3M
Financial institution code: LATF
Stock code: LFS
money3
Head office’s address: Australia
Contact center: 1300-014-870
Web-site: https://www.money3.com.au/personal-loans/any-credit-considered.php
NAB
Head office’s address: 800 Bourke Street
Contact center: 13-22-65
Phone: 61-3-8566-7023
Mail address: Level 4, 800 Bourke Street, Docklands, VIC
Web-site: http://www.nab.com.au/
Swift code: NATAAU3303M
Financial institution code: NAB
Stock code: NAB
BSB: 086-027
OurMoneyMarket (OMM)
Head office’s address: 104 Frome St
Contact center: 1300-990-115
Web-site: https://ourmoneymarket.com/
RACQ
Head office’s address: 7/515 St Pauls Terrace
Contact center: 13-19-05
Mail address: 7/515 St Pauls Terrace, Fortitude Valley QLD 4006, Australia
Web-site: https://www.racq.com.au/
Swift code: QTMBAU41
Financial institution code: QTM
ABN: 83 087 651 054
BSB: 514-000
Rapid Finance
Head office’s address: 1/13 Bonview Circuit
Contact center: 1300 467 274
Web-site: https://gorapid.com.au/
Savvy
Head office’s address: 4 Clarke Street
Contact center: 1300-974-066
Mail address: Sydney, Suite 206, 4 Clarke Street,Crows Nest, NSW 2065
Web-site: https://www.savvy.com.au
St. George Bank
Head office’s address: 275 Kent Street
Contact center: 13-33-30
Phone: 61-2-9553-5333
Mail address: St.George Bank Locked Bag 1 Kogarah NSW 1485
Web-site: http://www.stgeorge.com.au/
Swift code: SGBLAU2S
Financial institution code: STG
Stock code: SGB
ABN: 33 007 457 141
BSB: 112-908
Westpac Bank
Head office’s address: 275 Kent Street
Contact center: 13-20-32
Phone: 61-2-9155-7700
Mail address: 275 Kent Street, Sydney, NSW
Web-site: https://www.westpac.com.au/
Swift code: WPACAU2S
Financial institution code: WBC
Stock code: WBC
ABN: 33 007 457 141
BSB: 032-063