FAQ

Start by working out your budget and getting a finance pre-approval, then browse our used boats and new Seawind models. Talk to our team about the size and layout that suits how you plan to sail, and arrange a sea trial on any boat you are serious about. Call 1300 852 620 or email info@multihullcentral.com and we will walk you through it.

For a used boat, plan on a deposit of 10 to 20 percent of the purchase price. Some lenders will finance a newer boat with little or no deposit if your finances are strong, while older boats usually need a larger deposit. A bigger deposit can also improve your rate and your approval strength.

Most marine loans run from 1 to 7 years, depending on the age and value of the boat. Larger yachts over $150,000 can sometimes be financed for up to 10 years under a marine mortgage. Older boats usually get shorter terms, so the age of the boat you choose affects the term you can get.

You will usually need photo ID, proof of income such as payslips or tax returns, recent bank statements, and details of the boat you want to buy, including its age, value and condition. The lender will also run a credit check. If you are buying through a business or trust, the lender will ask for those documents as well.

Yes. Most marine lenders offer pre-approval, which tells you how much you can borrow before you start shopping. Pre-approval makes the purchase faster once you find the right boat, and it helps you avoid falling for a boat outside your budget.

For older, larger or higher-value boats, most lenders require a marine survey before they approve finance. The survey checks the hull, structure, engines and seaworthiness, and it is also good protection for you as the buyer. A comprehensive survey commonly costs around $1,000 to $1,500, so factor that into your upfront costs.

Besides the deposit, allow for the loan establishment fee, the marine survey, registration, comprehensive insurance, and delivery or transport if the boat is interstate or overseas. If you need a berth or mooring, allow for that too. Your lender and our team can confirm the exact figures before you commit.

Yes. Most lenders require comprehensive marine insurance on the boat for the life of the loan, because the boat is their security. At minimum, you should hold third-party cover. We recommend arranging insurance before settlement so the boat is covered from day one.

In NSW, a vessel must be registered if it has an engine of 4kW or more, is 5.5 metres or longer, is a personal watercraft, or needs a mooring licence or marina berth. You apply through Service NSW with a completed application form, proof of purchase such as a bill of sale, a HIN (Boat Code) certificate, proof of identity and the registration fee. Registration is for 12 months and can be renewed online, by phone or in person. If you plan to sail overseas, you also need to register the vessel on the Australian General Shipping Register through AMSA before you leave.

A new boat sold by a GST-registered dealer includes GST in the price. A private sale between individuals generally does not attract GST. If you import a boat into Australia, GST is charged on the import. If you are buying through a business or for charter use, talk to your accountant about what you can claim.

Yes. We regularly help buyers purchase boats interstate and from overseas, including delivery and shipping to Australia. An interstate purchase needs the registration transferred to your home state, and an overseas purchase needs AMSA registration and GST paid on import. Call 1300 852 620 and we will explain the steps for the boat you are looking at.

Still have a question? Call Multihull Central on 1300 852 620 or email
info@multihullcentral.com, or send an enquiry through the form below.