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The Low Down: Low stocks, low boat shows, low interest rates

It’s been an interesting week for news in the boating industry. Somewhat of a tale of two cities or more accurately a tale of two boat shows. While reports are filtering through that boat suppliers and manufacturers are flocking to sign up to exhibit at the 2021 Sanctuary Cove Boat Show, a totally different scenario is playing out in Melbourne.

The Melbourne International Boat Show which was slated for June 2021 has been cancelled. But not for the exact same reason that the 2020 event had to be cancelled which was of course due to lockdowns and the COVID-19 pandemic. We say not for the exact same reason because the reason for the 2021 cancellation is COVID-related but different. Lack of exhibitors because they don’t have stock due to COVID issue.

Throughout 2020 and into 2021, boat sales have surged as Australians had to cancel travel plans due to coronavirus restrictions and many opted to get into boating. Jet skis in particular have been in hot demand with some manufacturers sold out. Many of Australia’s favourite boats are built right here by local manufacturers. COVID interrupted some production schedules causing low supply of some boats and that was exacerbated by the surge in demand. A classic good news bad news story.

For importers of boats and boating equipment the story is a little less positive. Coronavirus is impacting many overseas manufacturers hard and stock is apparently hard to source.

So with insufficient exhibitors to fill the halls, the Boating Industry Association of Victoria, the event organisers, have pulled the pin. They are quoted as saying the challenges around timelines and supplies meant that exhibitors didn’t have stock to exhibit. So they are allowing the necessary time for the industry to recover and are already planning the 2022 event. In fact, they are calling for exhibitors to lock in their places by early 2021.

In place of the huge and widely popular Melbourne International Boat Show, the association is planning a number of smaller scaled events to support the industry. These are expected later in 2021 and will hopefully give buyers the chance to see new releases in time for the start of the next boating season.

Securing a ‘Low in Stock’ Boat

While the Melbourne cancellation is a blow to the industry, it will be particularly disappointing for Victorian and South Australian boat owners as the largest show in their region. It will leave those keen on attending a major boat show the options of Sanctuary Cove, Brisbane or Sydney. But the current revolving door of border closures, making travel plans too far in advance can be problematic.

All this while the interest rates we’re offering on boat loans are at historic lows. It’s a great climate for borrowers if only boat buyers can get their hands on the boat they want. If you’re keen to take advantage of our current great boat loan offers but you’re worried about securing the boat or wondering how you can place your order, we share some advice.

When manufacturers and dealers have low stocks available or when pre-orders open for limited edition models, you need to be in a position to act immediately. To confidently commit to an order in the full knowledge that you have your finance arranged.

For that purpose, our pre-approved secured boat loan is ideal. You simply apply whenever you like and go through to application approved stage. You’re approved for a certain spend but there is no obligation. If you do change your mind or, heaven forbid you miss out, you’re not committed to proceed with the boat loan. You can apply now if you like. Just complete our online form or give us a call.

Sanctuary Cove Show Update

Heading north to the Sanctuary Cove show in May could be a great opportunity to see first-hand some great boats. In news from organisers, some of the biggest names have applied to take top spots on the water. Brands including Integrity, Sunseeker, Maritimo, Princess Yachts, Whitehavem, Azimut, Grand Banks, Beneteau, Eyachts and many others.

But just because the boats are on show doesn’t mean they will be in plentiful supply. So being prepared to commit to an order for a boat can be critical to ensuring your secure the boat you want.

Regardless of whether or not you can attend a boat show to inspect the latest releases in person, you can still apply for a boat loan to place an order. Most boat builders have very informative websites so you can see all the models and individual features.

Jade Boat Loans provides a pre-approved loan service so you can have your finance completely wrapped up pre-release so you don’t miss out. You can take advantage of low interest rates and capture the boat you want.

Our services operate on a contactless business model so even if you are in snap lockdown or you can’t cross borders, wherever you are in Australia you can easily apply for a Jade Boat Loan. When attending the show, have our boat loan calculator on your phone for quick price to repayment calculations.

To commence a pre-approved boat loan application, apply online or speak with one of our consultants at Jade Boat Loans 1300 000 003

DISCLAIMER: THIS ARTICLE IS PREPARED AND POSTED WITH THE INTENTION OF PROVIDING GENERAL INFORMATION AND NOT WITH THE INTENTION THAT IT BE THE ONLY SOURCE OF INFORMATIONON WHICH TO MAKE FINANCIAL DECISIONS. THOSE REQUIRING FINANCIAL ADVICE AROUND THEIR INDIVIDUAL SITUATIONS SHOULD REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPT FOR ANY MISREPRESENTATIONS OR ERRORS IN THE CONTACT AS SOURCED, IN GOOD FAITH, FROM A RANGE OF SOURCES.

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