Now could be a good time to buy a boat with clear winter waters, EOFY sales, major boat shows and finance rates not expected to be lowered in the near future. While most boaters think about buying a new boat coming up to the start of the season in spring, winter can be a great time to make that purchase. A good time to buy and a great time to get out on the water for winter boating.
Why now? Sales and discounts can be found, new models are released at boat shows, and if finance is required, it is unlikely that buyers will find better rates later in the year. We elaborate on the reasons to consider buying boats now and the finance opportunities available at our competitive current rates.
Buy a Boat to Enjoy Winter Boating
Spring and summer are the popular seasons for boating in Australia, especially in the southern states. However, while boaters in the northern states enjoy year-round boating, those further south can still enjoy great times on the water from May through August.
The waters can be calmer and clearer, with lower levels of humidity providing better visibility than in the summer haze. Offering great conditions for fishers, divers, sailors and recreational boaters.
If planning to head offshore for whale watching on the humpback highway, be aware of the regulations for boats. Keep your distance from whales, especially where a calf is present. It is not only required by law, but also for your safety. Whales breaching close to small boats have been known to cause damage to the boat and send boaters overboard. This can be a very dangerous situation, especially in colder winter waters.
Remember that there are less hours of daylight in winter. Plan your activities to be safely back at port before darkness falls. It can be more difficult navigating a vessel in the dark. If boating on inland waterways after storms, take extra care for any floating debris such as submerged logs that can wash downstream.
Finance to Buy a Boat Now
For most buyers, financing will be required to make their purchase. Is now a good time to take on marine finance? There’s no escaping the reality of the current interest rate situation. After three consecutive rate rises from the Reserve Bank interest rates in consumer credit markets have increased.
But the flip side presents a better picture for buyers. Looking ahead, with the RBA Governor’s comments on the current economic situation, it is highly unlikely that we will see any rate cuts in the near or medium term.
Michele Bullock, Governor of the RBA, said that it was likely there would be further impacts on inflation from the fuel crisis caused by the Middle East conflict. The bank expects inflation to rise higher. Whether or not the board further raises rates in coming months is uncertain. Buyers can be fairly certain that the RBA will not be cutting rates with the rate of inflation as high as it is at the moment. Leaving buyers with the situation that now could be the best rates on offer this year.
Review our current highly competitive rates and use the Finance Calculator to get quick loan repayment estimates.
Buy a Boat in EOFY Sales
The annual end of financial year sales can present buyers with great opportunities to purchase goods at heavily discounted prices. Marine dealers may choose the off-season to clear their inventory before stocking up with new models for the next boating season.
EOFY sales are typically held by individual marine dealers, so you’ll need to check your local dealer for details. But some manufacturers offer deals across their range, through the dealer network. Suzuki Marine is offering EOFY deals on motors. Some dealers are advertising deals on Quintrex models.
To be ready to capture the best deals, apply for your loan first. Loans for boats with Secured Boat Loan. If buying a new motor or equipment, consider an Unsecured Personal Loan.
Winter Used Boat Buying Deals
Not all boaters choose to head out during the winter months. The options for them are to store or moor their vessel. Regular checks may be required to ensure the vessel is not sustaining damage, especially in winter storms. Trailer boat owners may choose to rent a storage unit to safely store their vessel.
But many boaters may not want the cost of storing and mooring when not using their boat. Many may be looking ahead to upgrading to a new vessel in spring. These are the types of reasons that can result in many boats coming onto the second-hand market. Primarily on online selling platforms through private sellers. Pricing can be good and may be negotiable.
If buying a second-hand boat online, ensure you follow best practice for online shopping. Watch out for scams and use our brokers to assist with checks such as rego and PPSR - if the vessel is under finance. Use a qualified professional to carry out checks such as hulls, motors and general condition.
Equipping a Vessel for Winter Boating
When buying a boat for winter boating, it is important to ensure that the vessel and yourself, are properly equipped for the conditions. Good canopies and covers are important to protect against storms and shield those onboard from wind and the chill factor.
Invest in good quality all-weather clothing starting with thermals, jackets and don’t forget footwear. While bare feet may work in summer, better options are needed when there is a chill in the air. It is a good idea to have a few extra warm jackets onboard for visitors that arrive under-dressed for the conditions.
When purchasing a boat from a dealer, include all the right gear and equipment with the boat order to have the cost included in your financing.
Connect with Jade Boat Loans on 1300 000 003 for affordable finance to buy a boat and experience great winter boating conditions.
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.
