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There are various types of loans and financing available. Lenders tend to categorise them in certain ways, as this helps them define the types of terms and interest rates that would be applicable.

One category of particular interest is leisure finance. On the Gold Coast, leisure finance is offered for a variety of assets that lenders categorise as leisure assets. These are typically the types of assets that are not essential for day-to-day life, nor are they necessary for running a business and earning money.

Leisure finance applies to the types of assets that are typically used for pleasure. Generally, they are viewed as depreciating more quickly, so their loan terms are usually shorter and the interest rates higher. Also, lenders will tend to be more stringent in their requirements for qualification.

Let’s take a look at the different types of leisure assets that would fall under the category of leisure financing.

Boats and Jetskis

Owning a boat is largely considered a leisure item. While there can be a case made for purchasing a boat for business purposes, such as tourism, fishing or rescue, most boat owners purchase their boats strictly for leisure purposes. As such, these assets are classified as leisure items because they are a source of fun and entertainment.

Jetski loans are also included in the boat loan category, as it is difficult to make a case for a jetski being essential.

Camper Trailers and Caravans

Camper trailers and caravans are considered leisure items because they are used for vacation purposes. It is not easy to argue why a caravan or camper trailer should be classified as a business item or as an essential item for daily living.

These types of assets derive their utility from the enjoyment one gets out of them rather than their ability to contribute meaningfully to earning a profit or providing the basic requirements of daily life.

Horse Float Finance

Financing a horse float is considered financing for a recreational vehicle because it is designed to transport horses. Horses themselves are largely considered recreational animals and are not considered essential for daily living. Horses are either used in sport or for leisure, so their transportation is not considered essential and is thus categorised as leisurely. Exceptions may be for the use of horse floats for horse trainers or stud owners, i.e. as part of a business.


Motorbikes are also considered leisure purchases, although many believe this to be somewhat unfair. Many people use motorbikes as an essential means of transport for commuting to work and other important engagements. However, most lenders view motorbikes as leisure items, perhaps because they are often considered more of a discretionary or secondary means of transportation when compared to cars, which are seen as primary.

If you are interested in acquiring leisure finance on the Gold Coast to purchase any of the above-mentioned asset types, then contact us at iCREDIT. We specialise in helping our clients compare loan options so that they can get the best possible deal.

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