A secured personal loan for a jet ski is a loan that requires an asset for security. For this, you can use an item that you currently own or you could use the jet ski you intend to purchase with the loan as security, in this case some lenders may allow you to use the jet ski as security. As a borrower, going for a secured personal jet ski loan could be advantageous to you as it features lower interest rates, high borrowing limits and fewer fees. Though note with these loans, you are at risk of losing your asset if you fail to pay off your loan. At Braid Finance, our finance options range from $10,000 to $100,000 and you can pay over a period of up to seven years.

An unsecured personal loan is a financing option that doesn’t require the jet ski as surety meaning that the financier will not necessarily repossess the jet ski.

For this loan, interest rates may be higher and you may also have a lower borrowing limit. You will take ownership of the jet ski at the time of the purchase and repay the loan to the lender over the agreed terms.

This is a good option if you are looking to purchase an older or low value jet ski.

Peer to Peer lending also referred to as P2P lending allows someone needing either a personal or business loan to borrow money from an individual or group of investors. These P2P lending sites match investors to borrowers. The platform operator acts as an intermediary between the investor and borrower. The P2P has a more flexible lending criteria where lenders are willing to fund loans to borrowers with poor credit scores. The loans can either be secured or unsecured.