Australian caravan manufacturing has a rich, proud history dating back to the heyday of caravan holidays in the 1950s and further back. Currently, there are many local manufacturers producing a wide range of vehicles including traditional caravans, camper trailers, specialist off-road vehicles, mobile homes and many others. Brands like Millard, Viscount, Jayco and many more are seen traversing national highways every day. But imported caravans, in particular Chinese-built brands, are making a significant impact on the Australian market with brands including Snowy River, Ezy Trail and MDC.
While many Australians like to support local manufacturers, often it is the imported goods that catch our attention and attract our purchase for a range of buying reason. When taking out finance to make that caravan or RV purchase, the question around any variations in loans for local versus imported also needs to be addressed. With Chinese-built caravans increasing in popularity, Jade Caravan Finance provides information on caravan loans for imported RVs and locally Australian manufactured caravans.
Imported Caravans
According to the ABS, industry and reliable sources, the sales of Chinese-built caravans in the Australian marker has increased significantly in recent years. Figures have sales of up to 40% now represented by these brands.
It should be noted that the jump in sales may reflect the pandemic-incurred issues for local manufacturers during 2020. The industry saw a massive surge in interest in caravan holidays as international and interstate border closures put limitations on where Australians could travel. The market was inundated with orders but many of the production facilities were under lockdown and other restrictions for considerable. Placing pressure on output.
This was particular significant in Melbourne which is a major hub for caravan production in Australia. While reports have that now the Aussie industry is back on track with production output, the imported models appear to have filled some pent-up demand for eager buyers.
When deciding on which brand or origin of build to purchase, individual buyers will have their own buying criteria. These may include: - covering off on reviews of all brands; ensuring the vehicle is eligible for registration in your state; warranty; ease of servicing and maintenance; amongst other matters.
Another factor to consider could be caravan insurance. If purchasing an RV with finance, buyers will be required to take out insurance. Like lenders, insurers will have their own individual criteria in regard to insuring imported compared with Australian made vehicles.
Key focus will no doubt be on specifications meeting local regulations in order for the caravan to be registered and towable on Australian roads and in regards to safety. Check with your state roads authority for details.
While the focus here is on fully-imported builds, it should be noted that components and elements of construction may also be imported for inclusion in Aussie-made products.
Versatile Secured Caravan Loan
When it comes to finance for an imported compared with a locally produced caravan, our Secured Caravan Loan is available for all RVs. This versatile loan product is suitable for a wide range of makes and models and suits most buyers. If a vehicle is available for sale on the Australian caravan market, then it is fairly sure it will be available for finance through Jade Caravan Finance. Subject of course to lender approval of the buyer’s loan application.
Our Secured Caravan Loan follows a relatively standard secured loan format:-
- The caravan is used as security against the loan by the lender.
- Suitable for new and some used caravans.
- Borrower repays the loan in equal monthly repayments over a fixed loan term.
- Advertised interest rates, Comparison Rates and loan features refer primarily to new goods.
Jade caravan loans also include the advantages of:-
- Cheap interest rates which are fixed over the full loan term.
- Fixed terms up to 7 years.
- No deposit finance for approved customers
- Loan offers sourced from across a vast lender base to ensure the cheapest is secured.
Lenders will of course assess the condition of goods when preparing their loan offer. The value is compared with the loan amount. Price will of course affect the total loan amount and often is a major purchasing factor for buyers. When it comes to imported v local on the price factor, despite any additional cost issues around shipping and import costs and exchange rates, some imported caravans are priced highly competitively. But some are higher priced and will as such require a larger loan amount.
Comparing Caravan Rates in Terms of Repayments
If weighing up purchasing a particular imported compared with a local-built model, the final decision may come down to price. Or more significantly, the loan repayments. To make that process quick and easy, simply refer to our caravan finance calculator. When seeking finance, it's also beneficial to explore options for the best rate caravan loans to ensure cost-effectiveness over the loan's duration.
If you have any doubts about the availability of finance for the make/model you are considering, gives us a quick call for clarification and/or a finance quote.
New regulations for the caravan industry came into effect recently and for more information on these and to check for the industry association’s accreditation, buyers can refer to the Caravan Industry Association.
For a finance quote for a Chinese-built caravan contact Jade Caravan Finance on 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.
