Hire Vs Buy
See the benefits of hiring a van instead of the costly obligation of buying your own!We have provided a table below which gives you some comparisons of the annual costs associated with hiring a caravan, compared with the annual costs associated with purchasing your own caravan.
While this table should be used as a guide only, we believe that many Australians don’t get the use out of their caravans due to work commitments, overseas travel and many other reasons.
By hiring a caravan, you get the benefit of choosing a van to suit your current lifestyle, while also having the benefit of not having a large amount of money tied up in an asset that you may only use 1-2 times per year and can take up to 12 months to sell.
$80,000 New Caravan
| Buy | |
|---|---|
| Storage | $1,350 |
| Insurance | $1,600 |
| Service/Maintenance | $800 |
| Registration | $70 |
| Interest on Loan at 6% | $4,800 |
| Depreciation at 5% | $4,000 |
| Total per annum | $12,620 |
| Hire | |
|---|---|
| 1 week holiday in January | $1,050 |
| 1 week holiday in August | $850 |
| Winter weekend away | $680 |
| 4 week winter holiday | $3,230 |
| 8 week winter holiday | $5,780 |
In 5 years, you have paid over $63,100 in costs and still have an $80,000 loan on a 5 year old caravan that may not suit your lifestyle.
After 5 years of hire you’ve saved yourself thousands, you will have no loan and are still hiring a brand new caravan to suit your current lifestyle.
$50,000 New Caravan
| Buy | |
|---|---|
| Storage | $1,350 |
| Insurance | $1,400 |
| Service/Maintenance | $600 |
| Registration | $70 |
| Interest on Loan at 6% | $3,000 |
| Depreciation at 5% | $2,500 |
| Total per annum | $8,920 |
| Hire | |
|---|---|
| 1 week holiday in January | $950 |
| 1 week holiday in August | $750 |
| Winter weekend away | $600 |
| 4 week winter holiday | $2,850 |
| 8 week winter holiday | $5,100 |
In 5 years, you have paid almost $44,600 in costs and still have a $50,000 loan on a 5 year old caravan that may not suit your lifestyle.
After 5 years of hire you’ve saved yourself thousands, you have no loan and are still hiring a brand new caravan that suits your current lifestyle.