Current Close Brothers PWC Finance Rates - October 2026
| Rate Type | APR | Max Term | Min Finance | Product |
|---|---|---|---|---|
| Representative / Best Available | 7.5% APR | Up to 5 years | £3,000 | HP / Finance Lease |
| Typical Mid-Range | 10.5% APR | Up to 5 years | £3,000 | HP / Finance Lease |
| Maximum / Higher Risk | 13.5% APR | Up to 5 years | £3,000 | HP / Finance Lease |
*Example monthly payment based on £15,000 at mid-point APR (10.5%) over 5 years: £322/month, total repayable £19,345. Rates are indicative and subject to individual assessment. We act as a credit broker, not a lender.
Close Brothers PWC Finance - Market Context
Close Brothers Motor Finance is a specialist division of Close Brothers Group plc, a FTSE-listed UK merchant bank. This heritage gives Close Brothers a level of financial stability and regulatory credibility that standalone leisure lenders often lack. Within the marine and leisure finance market, Close Brothers has built a strong reputation for working constructively with brokers and their clients, which means the experience of borrowing through this lender - particularly when introduced by an independent broker - is typically smoother than dealing with a high-street lender's consumer division.
For PWC buyers, Close Brothers offers hire purchase on both new and used craft, and finance lease for business applicants who wish to retain the VAT efficiency of leasing. The 7.5% floor rate is the most competitive in our current PWC lender panel, though as with all lenders in this space, the rate you actually achieve will depend on your credit profile, the age of the craft, the loan-to-value ratio, and the term selected.
Personal watercraft are a slightly unusual asset class for finance purposes. They are high-performance leisure items, they depreciate quickly, and they have a relatively active second-hand market - all of which lenders factor into their risk pricing. Close Brothers understands this asset class well and does not penalise applicants unnecessarily for purchasing a used machine.
PWC insurance is not a legal requirement in England and Wales, but most marinas and water parks require it, and it is a sensible minimum for any financed asset. Close Brothers, like most HP lenders, will expect the asset to be insured for its replacement value during the finance term.
Strengths of Close Brothers for Jet Ski Finance
- Lowest floor rate in our PWC panel at 7.5% - competitive for strong applicants
- Established specialist leisure and marine finance capability within the Close Brothers group
- Broker-friendly: works well with intermediaries and provides good support on complex cases
- Will consider a range of craft ages and configurations
- Finance lease option available for business purchasers
Limitations to Consider
- Minimum £3,000 finance threshold
- Term limited to 5 years - no longer repayment periods available
- Rate ceiling of 13.5% still represents a significant premium for weaker credit profiles
- Business purchasers may need to evidence turnover and profitability