EOFY is a traditional time for many businesses to offer stocktake sales, model run-out sales and other deals and discount events to clear stock for the start of the new financial year. Buyers of all types of goods often wait till May-June to get a substantial discount on a particular item. But in the boating industry, conditions may not be ideal if you’re expecting big discounts with an EOFY sale in 2021.
Why? Because boat sales have soared across many categories over 2020-21 due to the coronavirus pandemic. Many local manufacturers were and continue to be trying to catch up with building enough stock to meet demand. The Melbourne Boat Show has been cancelled for 2021 apparently due to issues around some manufacturers having stock to display and take orders for.
Of course, there will most likely be individual dealers that will engage in some form of sale event to attract customers. But it could be optimistic to think the usual widespread EOFY sales will be happening this year.
So where can buyers find a great boat deal? Is mid-year even a good time to buy? Our team at Jade Boat Loans gives you our take on the topic and some tips to ensure you always get the best deal on your boat loan.
Is it worth buying a boat mid-year?
While many heads indoors for winter, savvy boat owners and buyers will be rugging up to take advantage of the great winter boating conditions. Buying mid-year can be the right time to buy and in many areas is a great time to get out on the water.
The major boat shows that are running this year are scheduled through the autumn-winter months. Sanctuary Cove, Sydney and several other small events are still on the calendar. Boat builders and dealers traditionally offer great deals at these shows so genuine buyers should attend in a position to place that order.
Quintrex has a social media post teasing that they will be launching something new in coming weeks, possibly at the Sanctuary Cove Boat Show. Quintrex is one of Australia’s longest-standing and most popular brands of aluminium boats. If this is the category of boat you’re considering, it could be worth staying across their posts so you can secure your new Quintrex as soon as stock is available.
We assist buyers attending shows and register genuine interest in upcoming releases with our pre-approved boat loan service which we consider an essential for show visitors especially. There is no obligation and it gives you the confidence to proceed with an order on the spot if the boat and the deal meet your requirements.
We also direct you to stay across the availability of the boat you’re looking to buy. Stay engaged with the manufacturer or dealer so you get updates on releases. Jet ski loans in particular could be a boat category to watch in coming months. Reports earlier in the year related that due to the high demand stocks were essentially sold out with backorders for July delivery. So if you’re in the market for a jet ski, speak to us about arranging your loan to secure yours as soon as they become available.
If purchasing a boat for winter boating, think about the extras you may need for the conditions. These may include extra covers, optional heating or other accessories to ensure comfort, warmth and safety. We may be able to assist by including these accessories in your boat loan.
As we have reported in other posts, if a deal looks too good to be true, be suspicious. If buying a boat through the internet, watch out for the latest scams and frauds and take all precautions.
Getting a Great Deal on Boat Finance
There are two sides to a great boat deal – the pricing of the boat and the pricing of your boat loan. The availability of the boat model you’re buying, the dealer you’re buying through and possibly the timing will determine how much of a discount you can negotiate on the price.
When it comes to boat loans, Jade Boat Loans always offers the cheapest deals at better interest rates. The time of year does not directly impact the deals available. Individual lenders may vary their capacity to extend finance at different times due to their own circumstances. But as we are accredited with multiple banks and lenders, we have plenty of choices to source the cheapest boat loan for our customer. To compare multiple lenders and banks Australia wide, use our boat loan interest rates table
Interest rates are at historic low rates and while the RBA has repeatedly emphasised that it forecasts keeping rates at low levels for some time, the Government’s forecasts for the economy as announced in the Federal Budget further support that viewpoint. Unemployment is not expected to reach around or sub 5% until well into 2022 and that is one of the key targets being sought by the RBA.
So now is as good a time as any other time to get moving on a boat purchase. Have one of our consultants arrange a pre-approved loan and utilise our free online boat finance repayment calculator so you can head off to the boat show of your choice to see what deal you can secure.
The waterways can be clear and crisp in winter, less crowded and with the BOM app on your phone to stay across the weather changes to stay safe, there is plenty of great boating times to be enjoyed.
For a quote on a boat loan speak with Jade Boat Loans 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.
