With the silly season fast approaching, we take a look at some assets that see increased demand as consumers add them to their Christmas wish list.

Firstly, the current climate

Australia, like many countries, is learning to live with a new normal. Checking in with QR codes and wearing facemasks is routine and as many states enter the “living with COVID” phase, businesses are on a more positive trajectory.

Restrictions are easing and will [hopefully] continue to do so.

At the time of writing, 84.2% of Australians aged 16 and over are fully vaccinated – 42% of the world’s population is fully vaccinated.

Nodifi Head of Partnerships, Peter Holman, is optimistic about the foreseeable future.

“As borders are opening up, we’re seeing more enquiries for assets that support travel.

“Of course, vehicles come to mind, but also trucks and light commercial vehicles that support industries reliant on open transport are seeing rises.

“On the consumer side of things, leisure goods typically see increased demand at this time of year, and the early signs are aligned with this sentiment.”

Assets that see demand in the silly season

Boats

Watercraft often see increased demand from consumers as summer approaches. However, recent figures show that boat ownership is increasing regardless of the weather.

Data shows that around one in ten Australians have a boat licence and around 500,000 additional licenses have been issued in Australia since the 2019-20 financial year.

Documentation needed for watercraft
Depending on the client’s profile, payslips (3-6 months) and identification are often all that are required.

Boats have demand from not just consumers, but also commercial clients, especially tour operators and commercial fishers. 

Notes
There are finance options available for both private and dealer, new and used assets. It’s not uncommon for clients to require a trailer to tow the boat too.

Rates
Consumer rates start from 3.99%
Commercial rates start from 5.95%

Caravans / campers

These assets are seeing huge demand all over Australia and that demand isn’t going anywhere. 

Furthermore, caravans are a considerable asset with average prices of around $48,000 and $40,000 for new and used examples respectively.

Notes
Vehicles with a high towing capacity are also popular with caravan buyers. Reach out to any of your clients that may have recently purchased an SUV or ute as they might be keen on a caravan or camper trailer. 

Additionally, clients looking to purchase a caravan or camper trailer might also be interested in a sufficient towing vehicle.

Rates
From 3.99% (consumer and commercial)

Vehicles

As borders open up and Australians look to make the most of the silly season’s (renewed) ability to travel, vehicles are a hot ticket.

Equally hot are pre-approvals. Make sure your clients know that with a pre-approval, they’ll have the confidence to put down a deposit and avoid losing that perfect vehicle to other buyers.

At present, the Toyota HiLux and Ford Ranger are Australia’s two best-selling vehicles. The Toyota Corolla and Hyundai i30 are also in high demand.

Notes
Settlement times can often be as little as one business day, but vary depending on the complexity of the deal and the applicant’s profile.

Rates
Consumer vehicle rates start from 3.49%.
Commercial vehicle rates start from 3.99%.

Trucks / commercial vehicles

Truck demand in Australia is another growth area. The pandemic has pushed parcel delivery volumes up by 80%, a key driving force behind truck demand. Government forecasts also predict significant growth in road freight to 2030.

Typical required documentation:

Full-Doc
All financial documents, including BAS statements, bank statements and ABN and GST registration, are required to prove income. 

Low-Doc
Some financial documentation is required such as bank statements and payslips.

No-Doc
No financial documents are required by the lender to assess the deal. No-doc loans are popular with clients as they are typically a smooth and simple process.

Notes
Some lenders specialise in long-haul trucks and may require additional documentation or inspections about particular assets.

Often, lenders can offer loan packages to suit almost all clients and asset ages. As Australia has a strong appetite for trucks, applicants often settle on used examples.

Loan amounts start at $5,000.

Rates
Commercial rates from 3.99%.

Settlements in the silly season

The general vibe on social media and within Australia as a whole is, naturally, a jovial one in December and January.

This year, things are looking up as both state and international borders open up. 

Ensure that your marketing material reflects the vibe and goes with the flow of making the silly season memorable with new assets to support it.

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