Options for Your Caravan Finance
Buying a caravan can be a great way to organize more flexible holidays and weekend breaks. It can provide you with a home away from home, with all your creature comforts. You can travel anywhere you would like to visit and spend one night or several without worrying about expensive hotel accommodations or costly restaurant bills. However, unless you are in a very fortunate financial position, you will likely need to consider finance to fund the purchase.
Dealership Caravan Finance:
The most obvious place to look for caravan financing is the dealership where you purchase the caravan. While this can be a great place to secure automotive finance, consumers should not assume they are automatically obtaining the best rates. The dealership may have some attractive packages, but read the small print to check for hidden fees or charges and compare the rates with other providers before you commit. The finance options’ sticker price is often based on longer-term loans to make the monthly payments more attractive. Although this means that your monthly expenses will be less, you will pay far more over the loan term. Always check the total finance cost and the APR and monthly payment estimates.
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Bank Loans:
Another source of financing is a loan from your high street bank. Most banks and financial institutions advertise some great loan deals for any purpose. However, you should be aware that many banks have been reluctant to lend to those without an excellent credit record since the global financial crisis. If you have less than perfect credit, you may not qualify for the advertised rate and will be offered a less competitive deal. Again, compare quotes to check if it is the best possible deal.
Specialist Caravan Finance Broker:
A broker can be the best way to get a great deal on your caravan finance. Reputable brokers have access to a range of lenders specializing in certain finance types. The broker can search for the most competitive deals, allowing you to compare caravan finance rates without filling out multiple forms and applications. A broker can assist you even if you have less than perfect credit, as they will have access to several companies with more relaxed lending criteria. The broker can help you with the paperwork, making the loan application process far less stressful and frustrating.
Finding caravan finance should not be stressful, but researching your options before committing to a purchase can be a good idea. This will allow you time to compare finance rates and find a great deal. You can then shop confidently to afford your new purchase comfortably.
If you are considering caravan finance, Perth consumers should contact us. We specialize in all types of automotive finance. We would be happy to discuss your requirements and help you obtain the deal best suited to your particular circumstances, My True Care.
