Interest Rates Across Lenders
At Jet Ski Finance, our goal is to ensure that you can easily get your jet ski regardless of your financial limitations. We do this by providing you access to the best loan options in the country. We provide these loan options for a wide range of boats, including:
- Yamaha jet Ski
- Kawasaki watercraft
- Sea-doo jet ski
- Nikola jet ski
- Taiga motors watercraft
Our services are tailored so you can get access to the best options out there. One of the things that we consider when choosing a boat loan for you is the interest rate. We recognise that this is important as it stands as the cost of the loan.
A high-interest rate means an expensive jet ski loan. On the other hand, a low-interest rate means a convenient and cheap jet ski loan. As such, we work towards providing you with affordable interest rates that protects your financial convenience.
Low-Interest Rates Loans
A wide range of factors usually determines the interest rate associated with a loan. One of the most important factors that affect an interest rate is the type of loan you’re getting. Generally, some loan type attracts higher interest rates compared to others.
For instance, an unsecured loan will attract a higher interest rate than the secured loan option. Similarly, a bad credit loan will attract a higher interest rate than a loan obtained with good credit status.
Also, the loan duration and the amount required will affect the interest rate associated with the loan. These are all we consider to ensure that we can get the best offer when it comes to jet ski finance.
Interest Rates from Different Lenders
We bring you some interest rates from various lenders within the industry. These rates are as follows:
- Savvy Secured Jet Ski Loan: Fixed Interest of 5.85 per cent
- CUA Fixed Personal Loan: Fixed Interest of 11.99 per cent
- Westpac Unsecured Personal Loan: Fixed Interest of 12.99 per cent
- NAB Variable Rate Personal Loan: Variable Interest of 13.69 per cent
- CBA Secured Personal Loan: Variable Interest of 13.90 per cent
- St. George Unsecured Personal Loan: Variable Interest of 14.35 per cent
- ANZ Variable Rate Personal Loan: Variable Interest of 14.69 per cent
Variable Vs Fixed Interest Rates
One thing that you’ll come across when considering interest rates is variable and fixed interest rates. This considers the two type of interest rate associated with jet ski loan.
When it comes to a variable interest rate, it refers to an interest rate that changes throughout the loan duration. It can either decrease or increase based on the existing interest rate at the time. So, under this arrangement, the interest rate payable at a time is the rate at the time rather than the rate when the loan arrangement got created. This allows the lender to save money in some cases, although they might need to pay more.
On the other hand, when it comes to a fixed interest rate, this interest rate does not change throughout the loan arrangement. The borrower continues to pay the percentage agreed upon by the parties at the time of the loan arrangement. It provides the lender with certainty compared to the variable interest arrangement.