Can I get a loan on both boat and trailer?

When buying a new trailer boat these days, most dealers offer combined boat and trailer package deals. These package deals are available on all lengths of boats from Quintrex tinnies, to cuddy cabin cruisers, small fishing boats, blue water fishing boats and many others. When buying a used boat, it is rare to find a trailer boat being sold without the trailer.

At Jade Boat Loans, we provide cheap boat loans which cover both boat and trailer in the one loan.

Combined Boat and Trailer Package Loans

If you’re purchasing a boat and trailer in the same package from the one seller, then you only need apply for the one Jade Boat Loan. Your consultant will source you a quote for a Secured Boat Loan for total purchase amount where possible or the purchase price less any deposit you choose to pay.

This means just one monthly repayment covers your entire boating package and the lender will take the entire package as security against your loan.

Combining boat and trailer into one purchase makes a lot of sense to both buyers and sellers. Dealers can display the units in the boat yard and the buyer can just hitch up after making their purchase. It can be challenging to display boats onshore at least, without a trailer.

In many cases, the combination purchase is better value than buying the items separately. Many new boat dealers will have arrangements with a trailer manufacturer which passes on price savings for buyers. It’s a win-win for both boat and trailer sellers and for buyers.

As an aside, when it comes to the outboard motor, sometimes it is included in the package and sometimes not. In either case, your outboard purchase can be included in your one Jade Boat Loan. If buying the outboard from a different seller, discuss this with your Jade consultant so your loan application can be processed accordingly.

But what of the other possibilities?

There are a number of scenarios where boat and trailer may be purchased separately and we’ll cover off on your Jade Boat Loans options for those situations.

• You may want a better quality trailer than the one being offered by the seller. With a second hand boat, the trailer may be past its best days and you want a better trailer for safety and security of towing. In these instances, you would need to negotiate sale price with the individual seller and make arrangements for transferring the boat to the trailer you are purchasing from a different seller.
• The boat dealer may not be offering combination packages so buyers must purchase their trailer separately.
• A new boat dealer may match up a great boat with a cheap and in your opinion, inferior quality trailer. As mentioned above, you would need to negotiate with the seller.

Sourcing a loan for separate boat and trailer purchases is a possibility through Jade Boat Loans. The main proviso being that both purchases must be made at the same time. If changing trailers say a few months after purchasing the boat and establishing your Boat Loan, adding the new trailer into the existing loan will require essentially a refinancing situation. It may be possible, we don’t count it out – so speak with one of our consultants if that is your plan.

Hints for Sourcing the Best Boat and Trailer Loans

Arranging a pre-approved loan through Jade Boat Loans may represent a smart move for both combo and separate purchase scenarios. Pre-approved loans involve your Jade consultant sourcing a quote on the total loan amount based on your estimated spend and finalising the exact amount when finalising the loan after you’ve committed to the purchase.

With your loan pre-approved, purchasing a combo boat and trailer from the same dealer is a streamlined process. If purchasing the trailer from a different seller than the boat, having the combined loan approved should also simplify the process and provide you with the single monthly repayment.

The alternative is to source two separate loans – one for the boat and one for the trailer, or use your cash reserves to buy the trailer.

Whichever way you choose to buy your trailer boat and trailer, speak with your Jade Boat Loans consultant as we offer better boat loans at better rates and tailor loans wherever possible to meet customer requirements.

Trailer Tips

While on the subject of trailers, here’s a few tips, hints and considerations to add to your knowledge bank.

• Ensure that you are not being sold an inferior trailer.
• If the trailer brand is not well-known, check with your state roads department to ensure it meets local towing laws and regulations.
• If the trailer is an imported rather than Australian-made brand, it may have hard-to-source parts. This may become an issue if you’re heading off on holidays to a regional location. Some experts suggest replacing some of those parts with more easily obtainable local parts at the outset so you’re not caught off-guard.
• Ensure you secure marine insurance to cover boat and trailer.
• Check the brakes on the trailer and/or if the trailer needs brakes. Different states may have different laws about the weight limits for trailers that need brakes.
• Trailer boats come in large, heavy models these days and you want to make sure the trailer is suited to that boat. Do your checks!
• Secure your boat on the trailer properly – ask for advice if you are unsure.
• Avoid theft tips – if you’re parking your boat and trailer on the street, ensure both are secured to avoid theft. Don’t leave valuables on display inside the boat, get proper window locks and don’t leave gear loose on decks. Your insurance may not cover belongings.
• Boat alarm – a bit of a no brainer. If you’re storing your boat not at your home, ensure your alarm is a back to base model so you will be alerted.
• If storing at home, say in the driveway or even on the street, park your cars close up front and back so no one else can slip their vehicle in and tow your pride and joy away.
• Invest in a quality trailer hitch lock.
• Consider a tracking device on your boat and/or trailer so if it is stolen, it may be more easily tracked and retrieved.

Above all – enjoy your boating experiences!

To discuss a cheap boat and trailer loan speak with a Jade Boat Loans consultant 1300 000 003

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