Whether you’re a seasoned camper who embraces nature or have aspirations to own a static holiday home at one of the UK’s key beauty spots, caravans and motorhomes are more popular today than they’ve ever been before.
From hire and lease purchase agreements to staged instalments for an outright purchase, there are countless options for would be holidaymakers looking to buy a new, used or replacement caravan.
Let’s take a look at how caravan finance works and what you can do to find the best caravan finance deals.
What Is Caravan Finance?
Buying a motorhome or caravan can be pretty expensive business which is why there’s such a wealth of financing options out there for caravan finance. The most common type of motorhome finance and the one we’ll be looking at here is for borrowing towards a purchase.
The best caravan finance deals work in almost exactly the same way as personal loans, offering buyers a way to spread the payments of their new caravan or motorhome purchase across a number of months or years. Whilst interest will of course be added to the initial purchase amount, these bitesize payments can help individuals and families to realise their dream of owning a motorhome or caravan where otherwise they wouldn’t have been able to afford one.
There are caravan finance options whereby the loan amount is borrowed against the caravan itself, effectively using the asset as security. This can help to not only increase the chances of acceptance, but can reduce the interest rates of the loan in line with the reduced risk.
How Can I Apply For Caravan Finance?
Apply for caravan finance with CreditRaters.com today by filling out our short online application form. Discover independent and mainstream lenders from across the UK and select an option which you feel is best suited to your circumstances based on the lender’s reputation, interest rates, fees and any additional benefits.
Once you’ve opted for a lender, simply provide them with a few additional personal and financial details and you could be accepted on the very same day that you apply. Funds can be transferred within 24 hours of the credit agreement being received leaving you to focus on what matters most – planning that next trip away!