Boxing Day is a big day on the boating calendar as the start of the iconic Sydney to Hobart Yacht Race. But it is also a significant date for the start of the traditional sales season for many retailers and manufacturers across many sectors. When it comes to end of year boat sales the discounts, deals and sales events on new vessels would most likely be found through marine dealers. For keen buyers in the hunt for a deal this may take some sleuthing either online or in person.
But many buyers will likely head online to seek out great offers on all types of boats. Online platforms such as boatsales are great to see what is on offer from both manufacturers and from private sellers.
With the COVID-related spike in boat sales in Australia in the past few years combined with the COVID-related supply issues, a ‘deal’ may mean managing to source the right boat ready for purchase. That has especially been a major issue in the PWC and jet ski market. But as we recently posted, good supplies of Sea Doo PWCs are reportedly heading for Australian dealerships. We do provide boat loans for PWCs and jet skis, so speak with us in the first instance to get the finance sorted.
Buyers looking to make the most of end of year boat sales and limited time discounts and offers may find it advantageous to secure pre-approved boat finance. Being ready with finance already sorted can place buyers in prime position to capture those great discounts as soon as found. But with all major purchase decisions, due diligence and guidelines in regard to finance and checking out the goods should be followed.
We provide these timely reminders to buyers looking to purchase a new boat at this time of year.
Online Boat Sales
Buying online or at least conducting pre-purchase research online has become standard procedure for many purchases and that can include boats. Online services are a great option in many ways. We were one of, if not the first, lender to offer online boat finance services so we are fully aware of the convenience to customers. But when it comes to purchasing a boat online, buyers should be aware of potential pitfalls and scams and follow best practice for online buying.
While many leading manufacturers and dealers advertise their stock online through platforms such as boatsales there are also online platforms for private sellers. Most of the boats sold by private sellers online will be second-hand and that brings in a whole other set of guidelines to be aware of. Issues in regard to both the purchase and the finance.
In regard to buying a used boat online, buyers really should make sure they view the craft in person to ensure the description and photos are in line with the actual condition. In addition, they should check that the seller’s ID is bona fide.
The boat should be checked on the Personal Property Security Register (PPSR)to ensure money is not owed on it for an existing loan. This is one of the checks and verifications which we assist our customers with handling on their behalf.
Boat registrations can also be checked to ensure the boat is not stolen property.
The ACCC has warned that fraud and scams can increase at this time of year and buyers should be aware of scams. Refer to ScamWatch for the latest alerts and updates.
One issue to watch for is that the bank account details provided to you to pay for the goods are genuine. Frauds and hacks with bank details on supplier invoices has been noted by authorities as an issue to watch. This is another area where we assist buyers when we liaise between our lender and the seller at settlement.
Boat Finance Options – Pre and Post Purchase
Deals and discounts in any market can be for a limited time or only while stocks last. Such terms can immediately create a sense of urgency for buyers. But that should not become an excuse for making knee-jerk and possibly rash decisions. Decisions which have the potential to end up costing more than expected and result in longer term negative outcomes.
These may include committing to a purchase with no escape clause before finalising finance. This has the potential to lead to negative outcomes. These can include the boat not being suitable for finance, your finance application not being approved or the repayments well outside your ability to pay.
Other issues may include feeling pressured to commit to a boat loan offered at the point of purchase which may be at a higher interest rate than the cheaper boat loan which may be possible to source elsewhere, including through Jade Boat Loans.
Pre-approved boat loans can be of great assistance for buyers during sale time and at other times of the year. Organising finance before making that purchase commitment allows YOU to set your budget and proceed to search for boats in the price range that you know the boat loan repayments will work for you. Having this information provides confidence and assurances while allowing buyers to quickly commit on attractive boat sales offers.
Another great tool to have in your buying arsenal is our Boat Finance Calculator. While the estimated repayments calculated may differ from what you are offered, this tool can be extremely helpful to convert boat purchase prices into possible, estimated boat loan repayments. Often a far more relatable figure to work with.
When it comes to making quick purchases of limited offer boats, we can provide those essential quick boat loan quotes and fast loan approvals to assist buyers to move swiftly. Make the most of end of year and run out boat sales by all means, but don’t forget the basics and speak with us to get the finance arranged promptly.
Contact Jade Boat Loans on 1300 000 003 for all types of boat finance.
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.