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 or camper, compared with the annual costs associated with purchasing your own caravan or camper.
While this table should be used as a guide only, we believe that many Australians don’t get the use out of their caravans and campers due to work commitments, overseas travel and many other reasons.
By hiring a caravan or camper, 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.
$60,000 New Caravan
| Buy | |
|---|---|
| Storage | $990.00 |
| Insurance | $950.00 |
| Service/Maintenance | $500.00 |
| Registration | $60.00 |
| Interest on Loan at 6% | $3,600.00 |
| Depreciation at 5% | $3,000.00 |
| Total per annum | $9,100.00 |
| Hire | |
|---|---|
| 1 week holiday in January | $950.00 |
| 1 week holiday in August | $750.00 |
| Weekend away | $600.00 |
| 1 month holiday up north | $2,700.00 |
| Total per annum | $5,000.00 |
In 5 years, you have paid over $45,000 in costs and still have a $60,000 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 and you have an extra $20,500 in your pocket.
$35,000 New Caravan
| Buy | |
|---|---|
| Storage | $990.00 |
| Insurance | $600.00 |
| Service/Maintenance | $400.00 |
| Registration | $60.00 |
| Interest on Loan at 6% | $2,100.00 |
| Depreciation at 5% | $1,750.00 |
| Total per annum | $5,900.00 |
| Hire | |
|---|---|
| 1 week holiday in January | $850.00 |
| 1 week holiday in August | $650.00 |
| Weekend away | $520.00 |
| 1 month holiday up north | $2,340.00 |
| Total per annum | $4,360.00 |
In 5 years, you have paid almost $30,000 in costs and still have a $35,000 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 and you have an extra $7,700 in your pocket.