The caravan industry experienced an uptick in sales and interest in 2020 due to coronavirus travel restrictions limiting the holiday plans for many Australians. Many just opted to buy a caravan so they would have the freedom and flexibility to make their own plans. We've helped many new caravan buyers secure their recreational vehicle of choice with our cheap interest rate caravan finance and we're geared up and ready for all the 2021 buyers.
We’ve launched a new website resource, our Lender Comparison chart, which displays the interest rates that many lenders are currently offering on caravan finance with our own cheap Jade rates. It’s a self-serve loan estimation tool which allows you to calculate estimated repayments. Very handy and easy to use so make you bookmark the webpage for future, quick reference.
Our team continues to stay across the news in the caravan industry as much as possible and we’re continually posting new stories and articles with finance and caravan product news.
Now, we’ve put together this brief overview of our caravan finance and other dates and issues to note for 2021. We hope you find it helpful and informative and of course, you can always just give Jade Caravan Finance a call for a quote or start your caravan loan application.
Changes to Consumer Credit Laws
As part of the 2020/21 federal budget, Treasurer Josh Frydenberg the government proposed changes to consumer credit laws which are due to come into effect in April 2021. These changes, which we have covered in detail in another article, aim to simplify the consumer loan process and make funds more accessible, particularly in relation to home loans.
These changes may make it easier for some people to access caravan finance, but we assure you, if Jade Caravan Finance is arranging your caravan loan, you are assured of a timely, streamlined process.
Any changes made to the laws will not affect the structure of our Jade Secured Caravan Loan.
Caravan Loan Interest Rates
Interest rates in Australia reached historic lows in 2020 and that situation should remain constant for at least part of 2021. The RBA will be considering economic growth and employment figures as well as global trends in deciding if they will make any changes to the cash rate.
Note that Jade arranges our Secured Caravan Loans at a fixed interest rate. That rate remains the same from the time the loan is finalised through the entire loan term. So any changes to the official cash rate during your loan term will not affect your individual caravan loan.
Even if the lender that we have arranged your caravan loan with changes their interest rate, your existing loan will not change.
Jade’s Secured Caravan Loan
Through 2021 our Secured Caravan Loan remains the same in structure and features and sourced at our better interest rate policy. This is the most suitable loan for most caravan buyers – new and used – and can be used for buying all types of caravans: traditional, off-road, camper trailers, slide-ons, pop-tops, RVs, mobile homes and toy haulers.
No deposit caravan loans are achievable so you can borrow 100% of your purchase price in your finance. Our pre-approved loan service continues in 2021, so you can have your loan sourced and approved before heading to one of the caravan dealers or shows to view models.
Reduced Costs – Spirit of Tasmania
For those heading to the Apple Isle for a holiday or tour (great choice) there is a reduced fee for travelling on the Spirit of Tasmania. According to reports, it will be free for passengers to bring their car on the vessel from March 2021 through to June 2021. For passengers travelling with a caravan, they are reported to receive the $240 (average) return savings for that vehicle.
This makes it cheaper for caravan owners to travel to Tasmania and support local tourism and caravan park operators.
Compliance Changes
According to news out of the Caravan Industry Association, big changes are in store for caravan manufacturers in 2021. The Road Vehicle Standards Act commences on 1 July 2021 and RV manufacturers and importers will need to comply. There were also changes to the gas installation standards in late 2020 and enforcement commences early 2021. When purchasing a new caravan, ensure the manufacturer is compliant with all new requirements.
Diary Dates 2021
- We’ve posted an article with many of the dates for the caravan and camping shows for 2021 so please refer to this and note the dates.
- Renew your caravan registration by the due date or risk penalties.
- April: changes to consumer law
- May: Federal and State Budgets – watch for any measures and policies that may benefit you.
- June: EOFY – good time for EOFY sales so a good time to buy many items.
Year round – our Jade Caravan Finance team is available to source and arrange your caravan loan. Apply online or just apply over the phone.
To discuss options for your caravan loan call 1300 000 003 and speak with one of our Jade Caravan Finance consultants.
DISCLAIMER: THE CONTENT IN THIS ARTICLE IS PREPARED SOLELY FOR GENERAL INFORMATIONAL PURPOSES. THIS CONTENT IS NOT PROVIDED AS FINANCIAL ADVICE. IF YOU REQUIRE ADVICE ABOUT YOUR PERSONAL FINANCIAL SITUATION IT IS RECOMMENDED THAT YOU CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED IN REGARD TO ERRORS OR MISREPRESENTATION OF CONTENT AS IT PERTAINS TO GOVERNMENT MEASURES AND POLICIES, PRODUCT SPECS AND DETAILS AND OTHER DATA AS SOURCE VIA THIRD PARTIES.
