Safety is of major importance in many aspects of life. When boating, adhering to marine safety regulations and responsibilities can be life-saving. When towing a caravan, road safety is paramount for the RV, driver and other road users. So why are we discussing these issues in an article on finance? Jade Finance can assist boat and caravan buyers with addressing safety concerns by including key safety accessories and extras in the boat or caravan loan.
We address how this may be approached and also clear-up possible misunderstandings around the definition of a Secured Boat Loan and a Secured Caravan Loan.
Boat owners must adhere to certain rules and regulations when operating their vessel. Some rules are national, some apply to different waterways and there can be variations across the states. Before purchasing a new boat it can be advisable to check the requirements which apply to you so you are aware of any extra items you may need to purchase.
These may include:- lifejackets in sizes for all occupants; checking the capacity of the boat; checking the rating for the vessel; beacons and emergency devices; and communications.
Here’s a few of our tips:
- The rating of a boat relates to what conditions it is built to operate in. Look for the rating plate on the hull or check with the manufacturer or dealer. If that vessel is not suited to where you intend to operate, consider selecting a different boat. Use our loan calculator to see how the different price may change boat loan repayments.
- Capacity is how many persons are licensed to be on the boat. Take too many and there is a risk of a penalty notice from authorities. If not big enough for your plans, consider a larger model and once again, refer to the calculator for loan variations.
- When inspecting a boat to purchase, note what safety gear comes with the purchase and what you will need to buy.
- If purchasing a used boat it can be advisable to pay for individual assessments by experts in regard to condition. When purchasing a used boat with finance, this may be requested by our lenders.
- Consider the areas you plan to operate the boat and who will be aboard in relation to protected areas, covers and shade. Children especially will need some shade during a day out. Consider whether you need to buy extra covers or a bimini to provide safety for occupants and to protect from the weather.
If that list of extras required is adding up, speak with us before you finalise the purchase of the boat. With our Secured Boat Loan there is a possibility that your Jade consultant will be in a position to negotiate to have accessories etc included in the same finance as the boat itself. But this needs to be done concurrently with the boat buy.
In regards to caravan safety, one of, if not the, most important aspect is in regard to towing the caravan. While not directly related to the caravan loan, it is worth reminding, especially new caravan owners, of what is available to assist in upskilling. With support from the Campervan and Motorhome Club of Australia and financing from the Government, the RV Safe initiative is worth checking out.
This project includes a series of videos which cover topics such as:- using towing mirrors; how to reverse; towing weight; how to control swaying; and how to overtake safely.
The videos are free to view but there may be some extras to consider to improve safety and safer travel in your new caravan. Before buying, give careful thought to where you intend to travel, what requirements you will need to be safe and sustained in those regions and as such, what extras you may need to purchase.
Think about extra water tanks and additional solar panels if heading off-road to remote locations. Consider the actual security of the van and if stronger locks and window security is required. Very importantly, ensure the gas bottles are of the acceptable and safe quality. Ensure the caravan make and model meets the current safety and regulatory requirements. The industry association may be able to assist with information in this regard.
Prior to finalising the caravan purchase, speak with the dealer about adding any items you need at the time. This way you can speak with your Jade Finance consultant about including them in the Secured Caravan Loan.
The Loan Itself
We note that for some that have not applied for consumer finance previously or for some time there can be some confusion about exactly what a Secured Loan includes. For example, does it mean it is safe.
The ‘secure’ reference in regard to loans and finance is around the guarantee against the loan. The goods being purchased become the security or guarantee for the lender against the funds being extended. If the loan falls into default, the lender has the right to repossess the goods.
In regard to assurance for our customers, Jade Finance secures Secured Boat Loans and Secured Caravan Loans with a fixed interest rate and over a fixed finance term. This provides consumer assurance that the fixed loan repayment will not change when general interest rates change.
With the upcoming holiday season, many will be looking to buy a boat or caravan to enjoy summer recreation and travel. When doing so, address safety at the purchase stage and discuss with us how we may assist with the extra expenses to ensure your RV or boat is properly equipped and set up.
Contact Jade Finance 1300 000 008 to discuss including extras in your boat or caravan loan.
DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.