Digital lender and non-bank challenger MONEYME (ASX: MME) has signed an unique 12-month cope with one in every of Australia’s quickest rising luxurious caravan producers Snowy River Caravans to supply direct-to-consumer financing for the primary time via their secured car mortgage product Autopay.
On account of the deal, prospects can now assess their personalised mortgage and compensation particulars for any caravan on the showroom flooring by merely scanning a QR code. As soon as determined, they will finalise their Autopay mortgage utility and tow away with their selection of caravan in as little as 60 minutes.
On-the-spot Autopay financing is accessible at Snowy River’s three most important websites throughout Victoria and Western Australia, and is accessible for its Snowy River, Regent and Newgen manufacturers.
The partnership may even contain Snowy River Caravans and MONEYME Autopay collectively showing at roughly 70 commerce exhibits within the subsequent 12 months, to permit prospects to make use of the self-serve Autoscan function, apply for finance and buy caravans on the spot on the exhibits.
A few of the greatest exhibits of 2024 embody the Nationwide 4×4 Outdoor Present in Brisbane in March, NSW Caravan, Tenting, RV and Vacation Supershow in Sydney in April, Melbourne Leisurefest in October, and Perth 4WD & Journey Present in November.
For MONEYME, the caravan sector presents a extremely profitable and rising market, with caravan financing additionally providing a brand new secured asset kind.
In response to Tourism Analysis Australia, there have been over 770,000 caravans and campervans registered in Australia as of 2021, with 12.7 million caravan journeys taken and $10.5 billion spent on caravan and tenting journey within the yr ending June 2022.
There have been additionally 28,031 new models bought in Australia in 2022, up by 17 per cent on 2021, which is the very best variety of caravan gross sales to happen because the Nineteen Seventies.
In keeping with MONEYME’s give attention to higher-credit-quality debtors and secured belongings, caravan consumers open up a market of long-term, excessive credit score high quality debtors which can be usually additionally owners.
Clayton Howes, CEO & MD of MONEYME stated, “With a lot of incumbents leaving the car finance sector and a rising variety of customers concerned with caravans, this partnership presents MONEYME with the proper alternative to develop into a brand new secured asset class.
“Now we have a wonderful observe document funding vehicles, SUVs, vans, utes and light-weight industrial automobiles, so it was solely a matter of time earlier than we expanded into leisure automobiles.
“Our aim is to make finance simpler and extra accessible via expertise, and we’re happy to companion with Snowy River Caravans to supply quick, digital financing to a brand new class of consumers.”
Alex Luther, MONEYME Autopay Partnership Director stated, “We’re excited to companion with Snowy River Caravans, one of many quickest rising caravan producers in Australia. The demand for caravan holidays is rising and this partnership permits us to supply caravan consumers a fast and easy financing expertise via Autopay.
“Our Autoscan function is a primary for the caravan trade and we sit up for bringing that revolutionary expertise to Snowy River retail websites and tenting exhibits throughout the nation.
“Guests at Snowy River’s stand can get finance pre-approval in seconds and procure tailor-made compensation schedules for each Snowy River, Regent and NewGen mannequin on the present by scanning a QR code. We sit up for this journey with the Snowy River group, making caravan financing quicker and extra accessible.”
Andrew Crank, CEO of Snowy River Caravans stated, “We’re thrilled to affix forces with MONEYME, a digital lender and fintech disruptor identified for its pace and distinctive digital experiences. Its revolutionary strategy aligns completely with our dedication to offering prospects with a market-leading end-to-end expertise.
“This partnership permits our prospects to go to our most important retail websites, discover our newest caravan fashions, safe financing, and tow away their new caravan on the identical day.
“For us, having the ability to provide Autopay and the self-serve Autoscan function at caravan exhibits is especially thrilling. Guests will be capable to get hold of financing quotes on the spot, enhancing the general expertise and making it simpler for them to embark on their caravan adventures.
“We sit up for a profitable partnership that prioritises buyer satisfaction and accessibility.”
Snowy River Caravans can also be a fellow sponsor of the Tickford Racing Supercars group alongside MONEYME.
