June-July, middle of the year, it’s time for the traditional end of financial year sales, mid-year clearances and other aptly named discounted price events. The time when dealers and manufacturers offer special deals on stock including boats to clear their warehouses. It’s also the time for our annual and timely guide on making the most of mid-year sales. Tips and hints on securing finance and warnings and alerts as to what to look out for.
Winter is not the traditional boating season in most states so normally this would be the reason for marine manufacturers to discount stock to boost sales. But 2021 could be different. This time in 2020 with many states at some level of COVID-19 restrictions, many sale events in different areas of good had to be taken online. With outbreaks and snap lockdowns still a reality, some may move to that format this year.
But there is another factor that may limit the extent of mid-year sales in the boat sector – stock availability! As has been widely reported, demand for boats has surged due to travel restrictions and sales have soared over the past year. Several boat shows have even been cancelled this year, reportedly due to suppliers not having sufficient stock to display. Manufacturers are working to catch up on stock levels to meet demand.
The keen sale seekers will no doubt need to be smart and well-prepared to find and secure the bargains this sale season. Stock will likely be limited in many of the most popular categories, so you’ll need to be prepared.
Pre-Arrange Boat Finance
If you’re going to need finance to secure your purchase, then now would be the time to get organised. We offer pre-approved boat loans across our portfolio and the process for applying is the same as for post-purchase finance. We source you the cheapest quote based on the type of boat you intend to buy and an estimate of your total loan amount.
Your Jade consultant will process your loan through to the approved status and that is valid for a certain timeframe. There’s no obligation so if you can’t find the boat you want and don’t use the loan, that’s not a problem.
Due Deal Diligence
As when making any significant purchase but especially important when special deals are offered, is to do your due diligence. Know what you’re buying and know what deal you are being offered. If it is a boat packed with options that you won’t use, then it may not represent true value for money for you. Considering a cheaper option with only the gear you will utilise could represent a better deal.
Buying from a reputable dealer or manufacturers is always advisable. Many marine brokers and dealers are members of the BIA though this is not essential. If buying a second-hand boat from a private seller or a dealer, check the PPSR. This is the Personal Property Security Register where lenders register when a boat is put up as security against a loan. When engaging Jade to handle your finance, we will look into many of this and other verification issues. Click to find out more.
If the deal is around finance, we strongly advise you to read the fine print and ask questions or call Jade for a quote to compare. If it sounds too good to be true it well could be. Often special deals such as zero interest rate finance are only for a short period of the loan term. Once the promotional time has expired a much higher interest rate applies for the remainder of the loan.
Refer to our Boat Loan Lender Interest Rate Table to work up quotes to compare or give us a call.
Beware: Frauds and Scams Boat Sales
Unfortunately, COVID-19 has not been the only dangerous virus affecting the community of late. Fraudulent schemes and scams have also been on the rise. The ACCC has reported several scams happening in the boating, motor vehicle and caravan market. These include fake seller identities, the goods not existing and seller invoices being intercepted and altered.
Refer to the ACCC website for the latest updates on fraudulent schemes. We have also posted a number of articles on specific ACCC reports over recent months which you are welcome to review in our Articles library.
Boat Finance for Discounted Goods
Our range of boat loans at our cheap interest rates are applicable to both full-priced boats and vessels purchased at discounted prices. The Secured Boat Loan is the most popular for recreational and private boat buyers.
Our loans include no deposit finance so you can include the full price in the loan, subject to individual lender guidelines. In addition, extra items such as motor and trailer and optional accessories and electronics may also be able to be included in the finance. Speak with our consultants for full details.
When buying a boat you are responsible for registration in your state or territory and insurance when the boat is under finance. We can assist with details in those respects.
In summing up – get your finance sorted and start seeking a great mid-year boat deal. If not available in the usual channels, don’t forget the boat shows and outdoor expos where exhibitors often offer show specials.
For pre-approved finance to make the most of the mid-year sales, contact on 1300 000 003
DISCLAIMER: THE INFORMATION AND SPECIFIC DETAILS CONTAINED IN THE CONTENT OF THIS ARTICLE HAVE BEEN PREPARED AND ARE PRESENTED PURELY AS GENERAL INFORMATION AND NOT INTENDED AS THE ONLY SOURCE OF FINANCIAL ADVICE FOR BOAT BUYERS AND LOAN BORROWERS. FOR THOSE THAT CONSIDER THEY REQUIRE SPECIFIC ADVICE, THEY SHOULD CONSULT WITH A FINANCIAL ADVISOR. LIABILITY IS NOT ACCEPTED IN REGARD TO ERRORS AND MISPRESENTED DATA AND DETAILS HEREIN.
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