Boat Loans

Need a second chance to buy a boat?  We have a bad credit boat loan for you!

A bad credit boat loan is a loan to purchase a boat for someone who may have a poor or no credit history.

Just because you’ve had some issues in the past though, doesn’t mean that they should continue to plague your future.

We know that buying a boat when you have a poor credit score can be challenging. This is why we’re here to provide you with bad credit boat loan options even when other financial providers have said no.

At Ume Loans, our goal is to help everyone achieve their dreams. Sometimes this can seem impossible when it seems like no matter what you do, you’re automatically declined.

We don’t believe in that.

We’ll address your financial situation and tailor a bad credit boat loan that suits your circumstances, helping you get out on the water sooner.

Boat Loans Boat Loans
Boat Loans

New & Used Boat Bad Credit Finance

It’s important to understand that we might have to workshop some options to get you approved for a bad credit boat loan if you have a bad credit score.

At Ume Loans, we ask more questions so that we can understand your unique situation and customise a bad credit loan solution, just for you.

Our Lending Specialists will need to know details about your credit history and any recent defaults or collections that might be on your credit report. Have the information ready and don’t be afraid to give it to us. We want to know everything.

The most important thing for you to know is that we won’t judge or make you feel bad about the situation. This is all in the past but we need to know it for the future.

This is where you get the opportunity to show our credit team how things have improved for you and that you are capable of paying the loan back. You can show them that you’ve been on track with payments, you’ve increased your credit score, and perhaps your income has increased as well.


Apply for a Bad Credit Boat Loan Today
Boat Loans

Bank Said No? We Can Help.

No matter what your situation is, it’s important to understand that there are options for you. We won’t immediately say no or assume you won’t qualify for a loan just because of your credit history.

Let’s take a look at some of the benefits of receiving a bad credit boat loan through Ume Loans:

Flexible Terms

You know how much you’re capable of affording on a loan, so we want to make sure we offer you the flexibility to pay on your terms. The loan terms can last anywhere up to five years based on how much of a repayment you’re able to afford.

Repayment Options

Offering choices on your repayment schedule is important. This offers you the choice to pay weekly, fortnightly, or even monthly. Giving you these options allows you to manage your repayments in a way that makes sense to you.

Simple Application Process

We keep the whole process simple and you can complete your initial application online. Ume Loans offers fast approvals in as little as 24 hours. You could start shopping for a new boat as soon as tomorrow if you apply right now.

Apply for a Bad Credit Boat Loan Today

Bad Credit Boat Loan Options

Boat Loan Interest Rates

With a bad credit boat loan, you could be subject to higher interest rates because your application is seen as a higher risk. This is normal. We’ll work hard to ensure that we get your bad credit boat loan interest rate as low as possible but it’s important to understand that this can increase your payments.

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Boat Loan Lending Limits

Due to your credit history, you may not be eligible to receive as much finance as you might want. It’s important to understand this because it’s a part of how we help you get approved. If we keep our loan amounts in check, we have a better chance to get approved for a boat loan.

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Boat Loan Terms

Our team of bad credit lenders may want to extend the boat finance loan out to stretch out the payments and reduce them if you have a high interest payment. This is a great way to lower your regular payments but it will result in more interest paid over time.

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Boat Loan Deposits

If you have a low credit score resulting from a poor credit history, you may be expected to put a higher deposit down on the boat loan so that the risk is offset when we assess your application.

This is normal and it will offset the cost of the premium. If you’re not prepared to put a higher deposit down, you might want to take some more time to save up.

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Boat Loan Paperwork

Ultimately, a bad credit boat loan will result in more paperwork because our lenders will want more verification of how your situation has changed over time.

This can result in them requesting payslips, utility bills, and rent receipts to make sure you have enough money coming in to clear your bills but also to verify that you’ve been making payments on time.

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5 Simple Steps To Getting Your Loan

  • 1. Apply Online
    1. Apply Online

    Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.

  • 2. Speak with expert
    2. Speak with expert

    One of our Lending Specialists will call you to speak with you about your options

  • 3. Get Pre-Approval
    3. Get Pre-Approval

    We'll get to work on getting your loan pre-approved as soon as you supply

  • 4. Sign your documents
    4. Sign your documents

    Once everything is verified, you can sign your contracts electronically

  • 5. Get your new boat!
    5. Get your new boat!

    Time to go shopping for your new boat or pick up the boat you've already chosen

5 Simple Steps To Getting Your Loan

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Questions about Bad Credit Boat Loans?