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Covid 19 – A Good time to buy a caravan?

The coronavirus pandemic has changed a lot of things in our lives and many of these changes we are told could be for a long time, if not permanently. One stand-out is in the area of travel and holidays. With Australian borders closed indefinitely, many interstate borders closed, airlines grounded and cruise lines suspending operations for the time being, our choices for getting away have become far more limited. And don’t we all yearn for those getaways after extended ‘stay at home’ orders across the country.

Many people have been spending that stay at home time in research and planning their holidays and travel into spring and summer and even into 2021.

Interstate Travel – Corona Virus

International travel is looking very doubtful with coronavirus cases in many countries outside of Australia, still yet to reach peak, let alone flatten the curve. So heading overseas is probably doubtful. Booking a cruise is possibly not a reliable choice right now either, although it has been reported that cruise bookings have been on the rise. But in being asked for an opinion on that in an interview, Tourism Minister Simon Birmingham said anyone booking travel should have an iron clad insurance policy. Interstate travel is still a possibility but until the situation around Virgin Australia is resolved, air ticket prices and availability will remain in doubt.

Considering those factors, it’s not surprising that caravanning has surged in popularity as a realistic alternative to international and domestic travel and for a lot of good reasons, here’s a few:-

  • Caravans, RVs and camper trailer vehicles offer the flexibility to go pretty much when and where you want with minimal preparation and virtually no bookings required.
  • Even if interstate border restrictions are extended into a longer term scenario, every state has many great places to explore by caravan. The bush fire affected regions in particular are desperate for tourists to return to assist their recovery.
  • The cost of using a holiday park is minimal when compared with say a hotel room and you have all their facilities to enjoy.
  • Caravanning suits all ages – from young families through to our grey nomads.

So if you’re considering buying a caravan, is now the right time?

Although the current autumn temperatures are well above average, winter is on approach and the colder months are not usually the most popular for caravan sales. But 2020 is far from a normal year so not a lot can be judged on historic trends!

Like all industries, the caravan sector has been hit hard by COVID-19 with parks forced to close and travellers having to pause their own plans. All that inactivity will surely be taking a toll on the caravan and RV manufacturing sectors.

Many of the caravan, camping and travel expos and regional shows will have to be cancelled for this year due to coronavirus mass gathering restrictions. A lot of manufacturers would have been planning to launch new models this year and use these shows as major marketing opportunities to drive sales.

With no shows and none of the orders expected to flow from those shows, manufacturers and dealers must have stock they need to move. More stock means better prices!

Be first in for the best deals. NOW is the better time than possibly in a few weeks or months. Why? Because more and more people might start to have the same idea and the greater the demand, the less chance of getting a great deal.

Another emerging factor is the global slump in oil prices which look set to give Australians cheaper pump prices into the near future. For caravanners, this means it will be less expensive than in other times to tour this great country or just explore your state or local region.

When it comes to sourcing a loan to buy a caravan, there are also significant reasons to indicate that now is a good time.

Top of the list has to be interest rates. Due to numerous reasons, current caravan loan interest rates have been on a downward trend for some time and that has been accelerated due to coronavirus. These current historic low interest rates will make your caravan loan a lot cheaper than in other times.

How long the rates will be kept at this level – we can’t predict that timeframe.

If that’s enough reasons to get you thinking about buying a caravan then give us a call to discuss finance.

To discuss your caravan finance options, contact us on 1300 000 003 to speak with a Jade Caravan Finance consultant.

DISCLAIMER:THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.

 

 

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