Some assets bloom as the weather heats up in spring. We take a look at assets that typically see increased demand with increasingly nice weather.

Key Takeaways

  • Spring is an excellent time to bolster your offering in time for summer
  • Commercial vehicles see demand inline with home improvements undertaken in warmer weather
  • Consumer vehicles and caravans get popular when Aussies hit the road
  • Some agricultural machinery, particularly harvesting equipment, experience demand in spring (harvesting season)

Assets in spring

Spring is typically a good time for asset finance as consumer spending increases.

This can be in the form of vehicles as Australians not only look to explore their backyard, but also light commercial vehicles. As the weather improves, home renovations pick up, meaning more demand for tradies and their vehicles.

This is also influenced by overseas travel being at an all time low and home improvement projects at an all time high.

New vehicle delivery times hindering spring 2021

Some new car buyers may need to wait to take delivery of their new car this spring. Chip shortages are a key cause, severely impacting the automotive industry.

Chips (semiconductors) are a crucial ingredient in all electronics. In vehicles, this means engine control units, driver assist features, displays and media, to name a few.

As processing power has increased along with the need for connected devices during the pandemic’s stay-at-home orders, demand has outstripped supply of semiconductor components.

The result is that some new car buyers are counting waiting time in months, not days.

Commercial vehicles

Commercial vehicles attract commercial rates as well as low and no-doc loans for eligible applicants.

Low-doc and no-doc applications require minimal to no financials to assess the loan, making the application more appealing to some clients.

From 2.85%.

Nodifi sees a large number of visa holders applying for light commercial vehicles. Generally, visa holders must have a working visa with enough time remaining to pay off the loan.

Signage and outfitting modifications are additional costs that some borrowers may require. Some lenders can arrange a dual disbursement of funds should your client require.


Consumer vehicle sales are extremely strong at present. In fact, some used examples are seeing price hikes of up to 37% since pre-COVID times.

4×4 SUVs and utes are extremely popular in Australia, especially those by brands such as Toyota, Ford, Isuzu and Mazda. These vehicles are seeing higher prices compared to other passenger models.

Consumer vehicle rates start from 3.85%.

Unsecured car loans typically attract higher rates compared to secured car loans. However, if your client requires additional funds for modifications – for example off-roading equipment – an unsecured car loan might be preferable.

Settlement times and disbursement of funds are typically a matter of days but vary depending on the complexity of the lend and finance institution.

A Certificate of Currency with the lender listed as an interested party, must be obtained from the insurance company that the borrower selects.


Caravans have been an increasingly popular asset over the last 12 months, even extending to pre-pandemic times.

Camper trailers also make up a large portion of this category, as do off-road caravans.

Caravans must not only meet road standards, but electrical systems and waste / plumbing, among others, must also meet Australian standards.

Caravans and camper trailers typically see an increase in sales as the weather heats up.

From 3.99%.

Clients that are interested in a caravan may also require a towing vehicle. Similarly to other assets, age and condition play a role in determining rates, as does the borrower profile.

Agricultural machinery

Although we listed agricultural machinery in our winter assets edition, the category still sees some interest due to harvesting across various industries.

For example, wheat, which makes up the majority of Australian crops is sown between April and July and harvested in spring and summer. Canola, depending on location, is another crop typically harvested in mid to late spring.

This means some businesses are in the market for machinery capable of harvesting. Assets can range from simple yellow good attachments to full-size combine harvesters.

The name ‘combine’ refers to the machine’s different operations; reaping, threshing and gathering for example.

From 2.85%. Can be negotiated with larger ticket items depending on various factors.

Agricultural machinery is typically measured in operating hours rather than mileage. The interest rate generally increases with the age of the asset. Financing for asset-backed clients is usually a straightforward procedure.

Spring assets in summary

Bulking up finance offerings in spring is a great way to prepare for summer demand. Offering caravan finance also gets a foot in the door for leisure goods which typically see keen interest in summer.

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