When considering a major purchase such as a recreational vehicle, many buyers are keen to get as much information as possible on what’s happening across the sector. Information on new makes and models, how the industry is tracking generally, what’s happening with holiday parks and especially what’s happening with caravan finance. Information which can assist buyers get a feel for owning a caravan and the fantastic lifestyle they are buying into.
We’ve compiled some of the latest news items from the Caravan Industry Association of Australia, upcoming caravan shows and the outlook on caravan finance and interest rates following the February RBA rate announcement.
Strong Growth in RV Manufacturing
The manufacture of caravans and sales continue to grow in line with boost in popularity of the RV lifestyle. The Caravan Industry Association released the results for 2022 which saw a 17% increase in Australian made vehicles and nearly 8.5% increase in imported models. Vehicles from Australian manufacturers are extremely well-regarded overseas as seen by the just short of 230% increase in exports.
The Association’s CEO, Stuart Lamont, said the sector was not complacent with the results but looking to the future with innovation as the sector embarks on its next transition with an environment of low emissions and tighter conditions in the economy.
Caravan Parks Upgrade with Government Grant Assistance
There are many great holiday and caravan parks around Australia and more than 100 of these are set to get even better. 111 parks have been awarded grants ranging from $10K to $100K to upgrade their facilities.
The grants were made available through a Federal Government Infrastructure support package with operators going through a competitive process for the grants. Mr Lamont said that the package acknowledged the importance and value of RV and caravanning to the Australian economy.
For buyers planning their first caravan purchase, holiday parks can be sourced through numerous channels including the NRMA and the Big 4.
Upcoming Caravan Shows
Caravan shows and lifestyle expos are great events for buyers to connect directly with many manufacturers in the one location at the one time. There is an extensive schedule of these events in capital cities, regional centres and small towns throughout the year.
The largest of the year is the annual Sydney Caravan Supershow which will be held in April at Rosehill Racecourse in Sydney. Buyers on the west coast should look to attending the Perth Caravan and Camping Show from 22-26 March at Claremont Showgrounds. For Queenslanders, the Let’s Go Supershow is scheduled for early June at the Brisbane Showgrounds.
When planning to attend a caravan show with the intention of placing an order, we can assist with pre-approved caravan finance. Buyers can get approved for a caravan loan before buying and even before making the final decision as to which particular vehicle to purchase.
The Secured Caravan Loan suits most buyers of all types of new RVs. That includes the traditional caravan models, hybrids, motorhomes, camper trailers, toy haulers, off-grid, off-road and the many other variants on the market.
When getting approved for this type of loan prior to purchase, we work with our customers to arrive at an estimate of the amount they would require for the loan and process the application based on that loan amount rather than a specific caravan model.
We process the application through to the stage where it is all approved and simply awaiting our customer to make their purchase selection. This provides buyers with the confidence to place orders at shows and other events rather than have to delay by having to source finance.
We secure these loans at a fixed interest rate which is the cheapest available to match the application specifics and with a fixed loan term to provide fixed repayments. Buyers that don’t have their finance approved, can use our finance calculator.
Caravan Finance News
The major focus in the lending sector over the past nearly 12 months is definitely interest rates with the ongoing RBA rate increases. These do flow through to affect the caravan finance sector as they do in many other finance markets. Despite recent increases in interest rates, specialist RV broker-style lender, Jade Caravan Finance, continues to source cheaper interest rate caravan finance.
Based on recent RBA announcements and remarks, the outlook is for more rate rises in the coming months. Buyers that can, are encouraged to action their purchase with caravan finance as soon as possible before these increases are announced and reflected in our lender rates.
To discuss caravan finance for a first or new RV contact Jade Caravan Finance 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.