Getting a bit hot under the collar at the moment is not limited to just boat owners and fishers that have had no or limited use of their boats due to lockdown restrictions. It's been a challenging time across the country and many people have had their temperatures rising with the situation. Knowing the rules around what you can and can’t do is step one to keeping your cool on that front.
If you’re trying to buy a new boat and your plans are being stymied with restrictions we can assist with our 'contactless' online boat loan service. And if you’re making plans to acquire a new boat and set it up to keep your supplies cool, we offer suggestions for refrigeration options and what we can include in your overall boat loan.
So stay cool and read on for our hints and advice.
Know the Lockdown Rules
Staying abreast of fast-changing rules around COVID lockdowns requires diligence. But it is definitely worth it. Getting charged for breaching health orders comes with hefty fines which can out a dent in your boating budget. While NSW was in a state-wide lockdown the NSW police were cracking down on compliance, fines have been upped to $5,000 in some categories.
As of 16 August, new rules around what is and is not allowed in relation to recreation came into effect in NSW. It is definitely worth checking on what applies to your area, but it appears that in NSW fishing is considered as exercise and is still permitted BUT only within 5 kilometres of your home LGA. That pretty much counts out offshore fishing unless you live right on the coast. The 5 klms would also include travelling to the launch ramp or marina. As restrictions lifted, so have the areas that boaters can travel to - but not entirely across the state.
Restrictions also exist around who and how many people you can fish with. At one point only 1 person outside members of your own household are permitted in your group. Sourcing bait and tackle may be difficult as this is not an essential service and most stores should be closed. Check with your supplier re click and collect and only within your LGA for some residents.
Under the Queensland health orders, recreational fishing was not permitted during the recent SEQ lockdown unless it was essential to provision of food. Other states and territories also have restrictions in place and these are all subject to change. So before heading out, head to your state health department website for the latest information. The rules are in place to keep the community safe and compliance by all is essential to a faster return to more normal life and boating activities. Even as vaccination targets are reached and restrictions eased, some will remain in place, so stay vigilant and informed.
Lender Support
If your boat is under finance, loan repayments don’t stop due to lockdown restrictions. If you are feeling financial pressures, contact your lender to discuss options available to pause your payments. If you decide to simply miss payments due to income pressures you may find yourself in loan default.
If changes in your financial situation appear to be more long term, then refinancing your existing boat loan to achieve lower repayments may be worth considering. Contact us to discuss how we can assist you with refinancing your current boat loan.
Refinancing involves securing a new loan to replace the existing loan and as such would attract break fees for paying out the existing loan early. But if a lower repayment is a solution to being able to comfortably retain your boat, then it may be a solution worth considering. Speaking with one of our consultants and requesting a refinancing quote is obligation-free, so could be worth investigating.
Stay Connected and Stay Cool
After 18 months of on and off again lockdowns and travel restrictions, more and more people are turning to boating and why not! It’s a great recreational activity and accessible to many people. But making it a reality when movement is restricted and non-essential businesses are closed can have your temperature rising. Staying connected is the not so secret tip to keeping your cool and proceeding with buying a boat and securing finance under stay at home orders.
The marine industry has felt the impact of the situation through the cancellation of the majority of boat shows and expos over the past 20 months or so. Events which are often their major showcases. But many have adapted to ensure they can still meet orders to keen buyers via online services. If you’re wanting to buy and can’t get out to inspect, just head online to check out the specs and features of the boat you’re interested in buying.
At Jade Boat Loans we provide a complete online service while handling the entire finance process to keep our customers cool and calm! No need to endure the aggravation of waiting on hold or for return calls from multiple banks and lenders to get a boat loan quote. Just one call to Jade or make contact via our online channels, and we’ll take over the task for you.
Include Refrigeration in Your Loan
Once you are out on the water, you may want to stay a while and that will require refrigeration to keep yourself, your supplies and your catch cool. By including refrigeration equipment at the time of purchasing the boat, your Jade Boat Loan consultant should be able to include the costs in your loan. Depending on the boat you’re buying, refrigeration may or may not be automatically included in the package.
If not, discuss the options with the dealer at the time of purchase so we can include that cost in your loan. The choice of refrigeration will depend on the boat, the power source available and individual boating plans.
Ice boxes are the basic unit but require bags of ice which require replenishing. Economical and OK for a short time on the water and small quantities. Thermoelectric units are another option and while being relatively low in purchase price they are reportedly not extremely efficient and not ideal on very hot days.
Compressor and absorption style units can also be considered as well as fridges specifically designed for marine applications. It is advisable to discuss the options with the boat dealer as they should know the boat and know the best way to keep it cool.
It’s a testing time for most people and we can all be quick to get hot under the collar. But when it comes to your boating activities, there are sensible and accessible ways to keep your cool and enjoy the experience.
Keep your cool and contact us for a quote on a loan for your new boat, 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 MISPRESENTED DATA AND DETAILS HEREIN.
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