Selecting a boat to purchase includes many deciding factors with priority often given to the price tag and the marine finance deal that can be secured. But another key factor which can have a bearing on the specifics of the boat choice is the weather prevailing in the intended boating regions.
We have been operating in the marine finance sector for a long time and assist buyers with cheap boat loans to acquire boats that are suited to where and when they intend to cruise. Vessels need to be built and equipped to handle the weather and resulting water conditions.
The current storm season started with a vengeance. Giant hail of the largest size ever recorded in Australia fell in SE Queensland. Tornadoes caused serious damage in Victoria, Queensland and regional NSW. Thousands of Victorians and South Australians were left without power and with a massive clean-up after extreme rainfall and storms. Major swells offshore from a southerly left one life lost and others in hospital following a boating tragedy off the NSW south coast.
Boat buyers can do well to heed the warnings when buying their next boat and speak with our Jade Boat Loan consultants about how we can assist you to ensure your boat is suited.
Weather Wrap
Staying up to date with not only the daily weather but longer term weather and climate trends through the Bureau of Meteorology (BoM) resources is a great idea. For example, if you’re planning to purchase a new boat to say cruise up the east coast for a FNQ holiday, you’ll want to know what to expect during the experience. Even a leisurely fishing day with friends a few kilometres offshore should start with a diligent check of the weather forecast.
In terms of longer range forecasts, the BoM predicts that the tropical cyclone season could arrive earlier than usual this season. This expectation runs through to April 2022. With the change in the climate driver, above average rainfall can be expected in northern and eastern Australia and extreme storms.
These ‘off-shore’ weather patterns don’t just affect offshore boaters. They usually create extremely large swells and surf and strong currents which can impact coastal boating. The debris from extreme storm and rainfall events washes into rivers and lakes, creating hazards for boaters in those waterways.
Even on fine sunny days after a major storm event, the swell and currents can be extremely hazardous to boating activities. Setting your boat up properly from the initial point of purchase can be a safe and sensible approach. We can assist with the cost of this process by including some of the items required in your boat loan.
Weather Impact on Boat Purchasing and Finance
Selecting a boat that is constructed to tackle heavy conditions can often involve, to borrow that classic movie quote “you’re going to need a bigger boat”. A bigger boat usually means a bigger price tag. With price a major driver behind most major purchases, this may require serious consideration.
But price is one side of the purchase story. The other side is the boat loan repayments. With general interest rates and boat loan interest rates specifically at historic lows, that larger price tag may be less significant in terms of boat loan repayments.
Our cheap interest rate boat loans can make bigger boats extremely affordable. To see exactly what we’re talking about, head to our Boat Loan Calculator. Enter the price of the different boats in the loan amount box while leaving the term and interest rate the same, and you’ll immediately see how the monthly repayments change. This is only an estimate but it is a great resource for assessing the affordability of that ‘bigger boat’. Our Secured Boat Loan interest rates can apply to all new boat purchases, regardless of size and type. Bigger boats don’t attract bigger interest rates!
Regardless of the size or type of boat being considered, buyers will need to equip the vessel with the necessary and regulatory safety equipment. Additional accessories may also be highly desirable. These may include the latest lifejackets, electronic devices, beacons, EPIRBS and similar items. For smaller trailer boats it may mean including a bimini top and high quality covers in when purchasing.
When these items are acquired at the same time as the boat, your Jade consultant can work to including the cost in your boat loan. Many boat yards and dealers will supply these items so it is convenient to purchase with the boat. It may also result in being able to negotiate a better deal on the package.
Marine Insurance
When taking out finance to purchase a boat, borrowers will be required to take out a marine insurance policy. Policies in this category can vary significantly around what is and isn’t included and covered. Taking into account the weather conditions in areas where you intend to boat can be a consideration when deciding what to include in your policy.
Your Jade consultant can assist with directing you to a marine insurance expert.
Purchase a boat that suits where and when you intend to use it and set it up with the equipment required to ensure safe and enjoyable boating.
To discuss boat loan options, contact 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 MIS-PRESENTED DATA AND DETAILS HEREIN.
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