Boats, caravans, bikes and jet skis
Finance for boats, caravans, motorbikes and jet skis.
Secured consumer lending with comparison rates disclosed. Your broker explains how depreciation on leisure assets affects the term, the rate and the balloon.
Personal finance products are regulated consumer credit under the National Consumer Credit Protection Act 2009. Lyft Capital Pty Ltd (Australian Credit Licence 541052) acts as a credit assistance provider, not a lender. Approval is subject to the lender’s responsible lending assessment. Comparison rates are based on a $30,000 loan over 5 years unless stated; different amounts and terms produce different comparison rates. Fees, charges, terms and conditions apply.
What is a leisure asset loan?
A leisure asset loan is regulated consumer credit secured by a recreational asset such as a boat, caravan, motorbike, jet ski or camper trailer. Because these assets depreciate faster and sell more slowly than cars, rates sit above car loans and deposits are more often required.
Leisure assets are financed as regulated consumer credit when bought for private use, so the same NCCP protections apply as for a car loan: verified income and expenses, a responsible lending assessment that the loan is not unsuitable for you, and a comparison rate disclosed alongside the headline rate. What differs is the security. A jet ski or a used caravan is a narrower resale market than a Hilux, and lenders price accordingly.
Expect roughly two to five points above an equivalent car loan, with deposits of 10–20% commonly requested on boats and marine assets in particular. Terms stretch to seven years on caravans and larger boats, which keeps repayments manageable but risks the loan outlasting your enthusiasm for the asset. Motorbikes sit closest to car pricing; jet skis and personal watercraft are usually the most expensive to finance.
The negative equity trap is worth naming plainly. A $60,000 caravan financed over seven years with no deposit will be worth less than the loan balance for the first several years, so selling early means covering the shortfall in cash. If there is any chance you will want out within two or three years, a larger deposit and a shorter term is the honest answer, even though the monthly repayment is higher.
Leisure asset loan at a glance
| Amount | $5,000 – $250,000 |
|---|---|
| Term | 12–84 months |
| Rate type | Fixed |
| Indicative rates (Q3 2026) | 8% – 22% p.a. · see rate history |
| Security | Secured by the asset |
| Repayments | Weekly, fortnightly or monthly |
| Typical speed | 2–5 business days |
| Best for | Buyers of boats, caravans or bikes who have a deposit and plan to keep the asset for years |
| Consider something else if | Assets you may want to sell within two or three years, where negative equity is likely |
| Tax | Interest on a private-use recreational asset is not deductible. Charter or hire use changes the treatment — speak to your accountant. |
Advantages
- Secured pricing well below unsecured personal lending
- Terms to seven years keep repayments manageable
- Full NCCP consumer protections and comparison rate disclosure
Trade-offs
- Rates sit above car loans and deposits are often required
- Fast depreciation creates early negative equity
- Marine and specialised assets narrow the lender pool
How to apply for a leisure asset loan
- 01
Identify the asset
Type, make, model, year and condition, and whether the purchase is from a dealer or a private seller.
- 02
Set deposit and term honestly
Your broker models negative equity across the term so the deposit and length reflect how long you will keep it.
- 03
Verify and settle
Income and expenses are verified under responsible lending rules, the PPSR is cleared, and the seller is paid directly.
Documents lenders commonly ask for
- Photo ID and proof of address
- Payslips and 3 months of bank statements
- Sale contract or dealer invoice with HIN or VIN
What people finance with a leisure asset loan
Estimate your repayments
- Number of repayments
- 48
- Total interest (est.)
- $20,688
- Total repaid (est.)
- $95,688
This calculator provides an estimate only and does not account for fees, charges or the specific terms a lender may offer. It is not financial advice or an offer of finance.
Key terms
What is a leisure asset loan?
A leisure asset loan is a secured consumer loan used to purchase a recreational asset such as a boat, caravan, motorbike, jet ski or camper trailer for private use. It is regulated under the National Consumer Credit Protection Act.
Why are leisure asset rates higher than car loans?
Recreational assets depreciate faster, sell more slowly and have thinner second-hand markets than cars, so the lender’s security is weaker. Rates typically sit two to five percentage points above an equivalent secured car loan.
What is negative equity on a leisure loan?
Negative equity is when the asset is worth less than the outstanding loan balance. It is common on long-term, low-deposit leisure finance in the early years, and it means selling the asset does not clear the debt.
Leisure asset loan FAQs
Can I finance a caravan, boat or motorbike for private use?
Yes. Leisure asset lending is available for caravans, camper trailers, boats, jet skis, motorbikes and horse floats, secured against the asset itself. Because these are bought for private use, the loan is regulated consumer credit with responsible lending obligations and a comparison rate. Terms are commonly up to seven years, sometimes longer for larger caravans and boats. Lenders consider the asset's age and type as well as your income and existing commitments.