After months or nearly years of lockdowns across the country, the demand for waterside, coastal and beach properties is soaring. The property market in general across the country is hot with a lot of commentary on whether the RBA should act on interest rates to cool the market. But when it comes to the coast, the market appears to be even stronger. Rentals, purchases and holiday homes and apartments in both cities and regional areas are reportedly all experiencing strong demand. A solution to securing a coastal retreat in a soaring property market - buy a caravan with cheap finance.
As reported in the media recently, rentals in Sydney beachside suburbs have soared and reportedly holiday homes in beachside locations are heavily booked as people yearn for an outdoor lifestyle after extended periods under ‘stay-at-home’ orders.
If high property prices are not in your plans, think smart and buy a caravan! For many buyers, RVs offer many advantages over buying or even renting coastal real estate. One of the major benefits is having the freedom to change your view and location on a regular basis. You’re not stuck in the same place. You can hitch up and move to another destination when it pleases you.
Sure, caravans and RVs may not have all the space that you’ll find in an apartment or home. But the latest models are certainly not short on luxurious inclusions. Manufacturers are designing caravans to suit the market with plenty of storage, mod cons and many models offer fully off the grid travel.
And of course, the price and ongoing costs are far less. Apart from the obvious purchase price, the maintenance costs and the attention required are far less on an RV than on a property. Caravan owners do have annual registration and insurance and regular servicing on their vans to consider. Travellers who stay in holiday parks will also have to pay a fee to stay. However, these are minimal in comparison with property charges. And if your RV is set-up properly, you can stay at free camping sites.
If the idea of owning a caravan to enjoy the Australian coastline sounds like a great idea, we take you through some of the basics around buying and financing a caravan.
Buying a Caravan: The Basics
There are quite a few issues to consider when embarking on buying a caravan but there are plenty of resources to assist buyers in making their decision. Here are a few starter points to get your process underway:-
- How and where you intend to travel will be a major determinant of what type of RV you need – off-road or standard.
- The choice of RVs is vast and includes traditional caravans, campers, campervans, mobile homes or RVs, slide-ons, pop-tops, camper trailers and toy haulers.
- Consider how many people you need to accommodate and the level of luxury and conveniences you will expect during your travel or holiday.
- Consider the vehicle you have to tow the caravan. Some smaller vans require only a small-medium vehicle while others will require a larger vehicle. Check your state transport department in regard to towing weights and what is required.
- Consider your driving capabilities in regard to towing a caravan. Training in towing is available through many training organisations. A more convenient option may be a campervan.
- There are many manufacturers in Australia offering a wide range of models. Refer to reviews and the national associations for comments and accredited companies.
- Refer to caravan and camping blogs and websites to read the experiences of other caravan owners and reviews of different makes and models.
- If choosing to buy a used caravan, be fully across due diligence with online purchases and private sales. Refer to the ACCC Scamwatch website for alerts on the latest frauds. Buying from a reputable dealer can be strongly advised.
- Depending on your schedule and the events calendar, attend caravan and camping shows to see multiple makes and models in one place. These events offer valuable opportunities to talk to dealers and other owners.
- Price will of course vary according to the size and features of different models and may be a major deciding factor for many buyers. But extremely relevant to the purchase price is the cost of your caravan loan. Read on for our expert coverage of caravan finance!
Caravan Finance Opportunities
Not all banks and lenders offer specifically named ‘caravan loans’. If browsing the market, you may need to look at loans named Secured Loans or Secured Personal Loans. These are more general in nature and can cover a range of consumer goods.
But as a lender that specialises in caravan and RV loans, Jade Caravan Finance offers specifically structured Secured Caravan Loans.
Here are a few key points to consider:-
- Our Secured Caravan Loan suits all types of new RVs regardless of make, model, size or configuration.
- No deposit finance is available for many of our customers so the full purchase price can be included in the loan.
- While we adhere to a better interest rate policy at all times, currently interest rates are at all-time historic low levels. The interest rate in concert with the total amount of the loan and the loan term determines the repayments. So securing the cheapest interest rate caravan loan can make your caravan acquisition even more attractive.
- Terms are negotiated by our consultants to best suit individual customer preferences.
- We are accredited with multiple banks and non-bank lenders. This provides us with the ability to source the cheapest offer from across a vast swathe of the finance market and provides you with a time-saving and highly professional way to source caravan finance.
To find out how much a caravan loan may cost you on the RV of your choice, either use our Caravan Finance Calculator or just give us a call for a no obligation quote.
With a cheap caravan loan, that caravan purchase may offer you the ideal and preferable alternative to renting or buying a coastal getaway in a hot property market.
To discuss a quote for a caravan loan, contact Jade Caravan Finance at 1300 000 003
DISCLAIMER: THE DETAILS AND INFORMATION IN THIS CONTENT ARE PREPARED AND PRESENTED PURELY FOR INFORMATION AND NOT INTENDED IN ANY WAY AS THE SOLE SOURCE OF FINANCIAL ADVICE FOR CARAVAN PURCHASING. IF ADDITIONAL FINANCIAL ADVICE IS REQUIRED, READERS SHOULD REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY ERRORS, PRODUCT DESCRIPTION VARIATIONS, OR OTHER MISREPRESENTATIONS OF INFORMATION AS PRESENTED.