FINANCE

One of the best ways to pay for a jet ski or a small boat is with a low interest personal loan. These allow consumers to finance their fun without breaking the bank. You can see our fees below.

Finance

Schedule of Rates and Fees

The annual interest rates are from 9.5% to 19.5% per annum. The applicable rate for your loan is based on a various factors including your circumstances, your credit history, the term of the loan, and the amount of your deposit. The interest rate is fixed for the term of your loan.

DEFAULT INTEREST RATE

If you get behind in your loan repayments, then we may charge a default interest rate on any overdue loan payment from the time the payment was missed until the arrears are paid. The Default rate will be stated on your loan agreement and will be 25% per annum above the Interest Rate of your loan. So if your interest rate is 9.5%, and you miss a payment, the default interest on that missed payment will be 34.5%

LOAN TERMS

The usual terms that we offer are from 6 months to 48 months. Shorter terms will normally have a lower interest rate. The term of the loan can be changed at any time should your own personal circumstances change.

EARLY REPAYMENTS

You can make early repayments (or even repay the entire loan) at any time without penalty. Unlike other finance companies, there are no hidden fees or extra costs.

FEES

Loan Establishment Fee - from $200-$300

This fee relates to the time spent processing a loan application. The amount will vary rate depending on the loan amount and applicant profile

PPSR Registration & Search Fees - $11.50

These are the actual charges incurred for registration & search of your security item with the PPSR.

Other Establishment Fees

We will charge other third party fees associated with the loan establishment (e.g. Bank Statement retrieval, Centrix Credit Report, Motorweb checks, Identity checks).

Referral Fee - from $150-$350

A Broker or JetSki Dealer has the option of charging a referral fee that, if taken, is charged to the loan when drawn. Typically, this will range from $150-$350 with a maximum of $500. However, this is not applicable when you apply for your loan directly from JetSkiFinance.

Variation Fee - $50

Where an existing loan’s terms are changed, e.g. security, parties, or repayment requirements.

Administration Fee

This is a fee for maintaining the servicing of the loan throughout the term, charged per month $8.50

Apply Now

DEFAULT FEES

Reminder Letters - $10

Where your loan is overdue through missed payment(s) a reminder letter will be sent.

Dishonour letter - $15

Where your loan is overdue through missed payment(s) a reminder letter will be sent.

Pre-Possession Warning Letter - $20

Where repossession or legal action may follow, or a payment default may be listed against you.

Text Message Fee - $2 per text

Charged when attempts are made to contact the borrower(s) and/or guarantor(s) via text when a breach of the loan agreement (such as an overdue loan instalment) has occurred.

Phone Call Fee - $5 per call

Charged when attempts are made to telephone the borrower(s) and/or guarantor(s) when a breach of the loan agreement (such as an overdue loan instalment) has occurred.

AGENT CALLS

Field Visit – If our own staff - $55

Where we have an employee visit you regarding a default (payment or otherwise)

Field Visit – Third Party Agent - *As Invoiced to us.

Where we have an contracted third party agent visit you regarding a default (payment or otherwise)

REPOSSESSION

Repossession Warning Notice - $45

Statutory Notice formally advising of our intention to repossess.

Repossession fee - *As Invoiced to us.

Where we have an contracted third party agent visit you regarding a default (payment or otherwise)

Post Repossession Notice - $45.00

Issued after the repossession of the goods

Statement of Account After Sale Notice - $40

Issued following the sale of repossessed security

Storage of Repossessed Goods - *As Invoiced to us.

Where repossessed goods are stored at a third party’s storage location.

RECOVERY

Costs incurred by a 3rd party - *As Invoiced to us.

Costs incurred by a 3rd party such as a Collection Agents Commission, a repossession agent, legal agent, other agents.

Other Charges - *As Invoiced to us.

Any other services contracted out to third parties to facilitate collection/repayment of a loan.

NOTES:

Where notice is sent to more than one person (eg if there is more than one borrower and/or guarantor) only one fee is charged, not one fee per person.
*Copies of the invoices are available if requested.