Would you like to fulfill your individual dream of a new camper or a new motorhome? With a caravan loan, you don’t have to wait long for the dream to come true.
Find out below what is important for the financing of your camping project, how you can finance at low interest and find the right caravan loan.
Caravan loan – special loan?
Camping is vacation, recreation and lifestyle. Campers of all generations enjoy the fun of the caravan or motorhome. – But the hobby has its price. A well-developed camper can easily cost 30,000 USD and even more. If you don’t want to wait long, buy on credit. – But is caravan credit a special loan or an ordinary installment loan? Who finances the caravan at low interest?
Basically, the caravan loan is not a special financing for exotic goods, but a completely normal vehicle loan. It is treated in the same way as any vehicle purchase loan. Potential retailers include the retailer banks, the house bank, a direct bank or private investors. Not only the possible providers are equivalent to the car loan, but also the offered financing options.
Loan for caravans is offered as a normal installment loan, final installment loan or as leasing financing. Leasing would be interesting if the camper or motorhome were used professionally. The advantage of this financing option is tax-related. Just like for any other company vehicle, the camper’s leasing rate could also reduce taxes. After the lease expires, the vehicle can be taken over privately at the residual value.
Caravan loan from dealer – interest subsidies?
Of course, the vehicle trade for caravans and mobile homes like to use subsidized special interest as a selling point. Whether interest-free trade fair financing or a mini-rate for anniversary offers, financing is an important sales argument. Just as with buying a car, the small interest rate promises distract from further savings potential. Why trade when the interest rate seems unbeatably cheap and the monthly rate is affordable?
The actual savings model, with low interest rates across Germany, is the cash discount. It would be possible with debt financing when buying on credit. How much discount retailers actually grant varies, of course, individually. Anyone who wants to buy cheaply during the season and is open for discounts in the form of free bonuses, buys at trade fairs. In this case, cash discounts of 10 – 15 percent of the offer price are realistic.
In addition, there is free air conditioning or the right free awning. For example, if you bought for 15,000 USD, the loan for a caravan from a third-party bank would give you a total of about 3,250 discounts. Of this, around $ 2,250 corresponds to the direct discount on the purchase price. In addition, about 1,000 USD would be possible for the awning, other accessories or free inspections.
Used caravan – purchase from private
The camping vehicle industry has been booming for years. New models are constantly coming onto the market. Innovations continuously improve comfort. The majority of camping enthusiasts are not “poor people”. Those who can afford it only keep their caravan for a few years. Although the vehicle still looks like new, it changes hands. “Bargains” with good used vehicles are to be expected especially at the end of the season and when buying privately.
Of course, the seller expects cash payment before releasing the good piece from his care. Low-interest credit for the caravan mostly comes from the Internet again. A free loan comparison makes it easy to finance new vehicles and used caravans. Dedicated loans are offered at reduced interest rates. There is no special section for caravan purchases.
The caravan loan counts as an ordinary vehicle loan. Financing offers for used vehicles should be selected. With a good credit rating, online financing is quick and uncomplicated. The binding credit approval can already be available within 24 hours. Direct banks pay out the money for the vehicle purchase within one booking day.
Subsequently, in most cases it would be prompt to send the motor vehicle letter to the bank. Interest rate discounts, compared to the regular credit at your disposal, result from credit protection over the real value.
Poor credit – caravan loan
Although the majority of camping enthusiasts are considered well-off, campers are normal citizens of all classes and income groups. A simple undertaking is the caravan loan, for purchase or repair, if regular loan offers with good creditworthiness could be used. Not all credit institutions are eligible for lending with a rather poor credit rating.
Even so, quick credit for caravan repairs can play an important role. If 100 USD are missing on time to re-seal the vehicle in time, the total loss can be at risk. Fast credit with exhausted overdraft facilities and an empty household budget does not have to be a problem. Astro Finance, for example, offers a suitable offer. Express credit would be possible, between $ 100 and $ 500, with a 30-day term despite a poor credit rating.
If an installment loan was required to purchase or repair the caravan, a loan from a private person could be considered. Through Cream Bank, private investors would be able to access the required caravan loan at a serious level. When applying for a loan with the Astrro, the credit protection system could use the real value to fuel the bids. All that would be required was an official report that correctly verifies the real value.