Jet skis and PWCs are great excitement machines when it comes to boating and recreational fun. Easier to store, tow, launch and operate than many small boats and the speed and agility offer great opportunities to get the adrenalin racing. Model developments have also seen PWCs re-designed to suit sole fishers and for other specific purposes. But buyers in the market to buy a new jet ski in recent years may be well aware that the popularity surge during COVID led to a severe stock shortage. Following the recent Sydney Boat Show, we cover off on the latest news from the jet ski sector and add our own update on jet ski loans.
Jet Ski Sector News
The three predominant manufacturers in the PWC and jet ski market displayed machines at the Sydney Boat Show. In addition, as we reported in our pre-show blogs, Canadian company Taiga also displayed their electric jet ski which is new to the market. While not all models were on display as the majority of stock was with dealers for sale, there was plenty of news to catch up on.
In the 2022 range Sea-Doo has the popular Fish Pro models as well as the Scout, Sport and Trophy. For higher performance models, check out the RXP-X and the RXT-X 300. These are available in the latest colour trend for the sector – black and a very bold yellow.
The Sea-Doo Spark Trixx could be worth considering due to being priced in the more affordable price range for many buyers. Matched with a Jade Boat Loans cheap interest rate loan and you could have the fun machine you’re after for the summer.
For 2022 Yamaha have the WaveRunner FX SVHO and GP 1800 SVHO in their line up as well as the Superjet. But getting your hands on one could be a challenge. It may be a case of placing an order or sourcing another brand that has availability if you want a new PWC this summer.
Kawasaki have 3 models in its 2022 line-up – versions of the Ultra 310. Shipments may be due to arrive, so get in fast. To ensure you are in a position to buy when available, speak with us about a pre-approved jet ski loan.
The new entrant in the market is the Taiga Orca. This is a Canadian start-up which is offering an electric jet ski. Specific details of availability in the Australian market are yet to be known. But those interested in what’s on offer can check out the Canadian website.
Regardless of which brand you have in mind, availability and immediate delivery could be the biggest issues when purchase a PWC or jet ski for the start of the coming boating season. As is happening with many goods – cars, caravans, electronics, the ongoing pandemic issues in overseas factories as well as the computer chip shortage are also impacting stock of PWCS into the Australian market. Stock is patchy and manufacturers are urging buyers to get their orders in with dealers.
Jet Ski Loans Update
For those that intend to place an order for future delivery, possibly months down the track, what are the finance options?
Our general Secured Jet Ski Loan is suitable for all types of new watercraft and will suit most buyers. As specialists in marine finance we specifically provide boat loans and jet ski finance where many other lenders may only offer a generic personal secured loan to cover many recreational goods purchases.
Our Secured Jet Ski Loan follows the format of other secured type loans with the jet ski used as the guarantee or security. Most buyers would not be required to offer additional property or assets as security as the watercraft would be sufficient.
We secure this type of loan with a fixed interest rate whereas some lenders will have a variable interest rate on loans for watercraft. A variable rate, as the name suggests, is subject to change when interest rates change. Recently we’ve seen four consecutive rate rises by the RBA and more are expected. Lenders then respond by applying their own increases to rates across their portfolio. Holders of a variable interest rate loan can then (potentially as there can be variations) may see their rate and their repayments increase.
With a fixed interest rate jet ski loan, the rate is fixed for the entirety of the loan term. We also ensure fixed terms. Along with the fixed rate, that ensures our customers that their jet ski repayments will not change when rates change in the general lending market.
For buyers looking to place orders, they may consider a pre-approved jet ski loan, but there are considerations to take into account. Pre-approved loans are quoted, processed and approved prior to purchase based on an estimated loan amount.
The key point to keep in mind is that they do have an expiry date. This may occur prior to the jet ski being delivered. If so, then the loan would need to re-applied for and re-quoted. If interest rates have changed over the intervening period, a different rate and different repayments may result.
Having said that, pre-approved jet ski loans can still be very useful in getting a good indication of the loan amount that an individual would be approved for and possible repayments. Information which can greatly assist with the purchase decision.
To discuss the finance options in regard to your jet ski purchase plans, 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.