Buying a recreational vehicle can involve a long list of choices, considerations and comparisons. Deciding between a caravan, a camper or a motorhome is one of the first decisions that many buyers will make. The decision between the type of vehicle can be determined very much by travel and holiday preferences and the availability or not of a suitable towing vehicle. But for some buyers, many of the buying decisions can be based on the financing options. We provide information, resources, expertise and tools to assist purchasers wanting to compare RV loans prior to purchase.
Comparisons can include reviewing what is available in the lending market, comparing financing products, comparing interest rates, and comparing a loan for a used caravan with a new caravan. These comparisons may be simplified with our comprehensive approach to financing recreational vehicles. We provide the same finance products for all makes and models – campers, traditional caravans, motorhomes, campervans, toy haulers, and rugged expedition-style models.
Compare RV Loans Market Options
Finance for recreational vehicles is part of the consumer credit sector. This area of the lending market is extremely large with many providers offering financing options for caravan buyers. Lenders include the major and other banks, finance companies, some caravan manufacturers and dealers, and brokers such as Jade Caravan Finance.
There are many variations in the market with the type of loan offerings, the type of interest rate, the interest rate, the approval criteria, and with the minimum and maximum amounts that lenders will approve. Some lenders may offer a Personal Loan as their option for financing a caravan. This type of credit is generally a generic type of finance which may suit many purchases such as caravans, boats and other goods and personal expenses.
A key benefit of applying for a caravan loan with Jade, is that we have access to over 80 lenders. We quickly find buyers the lender that is their best match, and the lowest rates and most suitable offer. Simplifying the entire process of comparing recreational vehicle finance.
Compare Used and New RV Finance
A key aspect to appreciate when comparing finance for used and new vehicles is collateral. While new models are generally accepted as the finance security, the same is not always the case with used models.
Lenders need to assess age and condition when deciding if the vehicle presents as suitable collateral for a loan. The age and condition may also impact the loan amount approved. Comparisons may best be made by requesting a quote from us for the vehicles you are considering.
Compare RV Loans Product Specifics
The two main financing products for recreational vehicles are secured and unsecured. We provide both options to suit all buyer preferences and all types of vehicles – new and used. The Secured Caravan Finance will be the go-to option for buyers of new models and many used models in good condition.
Collateral is provided by the vehicle, with many buyers not needing to offer additional security. While some lenders offer variable interest rates on personal loans for caravans, we offer a fixed rate. This can be important as it ensures the interest rate doesn’t change with RBA and lender decisions. A fixed rate and a fixed term provide for fixed monthly payments. Allowing caravan owners to budget their spending and other major purchases.
The deposit required on a secured loan is subject to the lender approving the finance amount requested. That is, if the buyer prefers to borrow 100% of the purchase price or is making a downpayment and borrowing less than the full price.
When sourcing caravan finance, our experts can also, for many buyers, include the extra costs of accessories, add-ons, and optional packs. As specialists in caravan financing, we know that new vehicles are presented with options for customisation by buyers. Ordering all required extras and options at the time of van purchase, can allow us to incorporate the costs in the van finance.
Compare Interest Rates on RV Loans
Interest rates on caravan finance are offered based on the assessment of the application and credit score of the buyer. Rates displayed by lenders will be for good credit score applicants for new vehicles. These rates can be used to make general lender comparisons.
The same interest rates will apply generally across the vehicle market – for campers, motorhomes and traditional caravans. But will be different for different buyers. For your specific rate, request a quote from us.
Compare RV Loans on Different Models
With such a great selection of manufacturers in the Australian caravan industry, buyers have a huge choice of makes and models. There can be quite large price variations, especially with budget models compared with a top-of-the-range model. Jade Caravan Finance provides a convenient online financing calculator to allow buyers to quickly compare RV loans on caravans, campers and motorhomes. Compare finance payments on a Supreme with a similar model from the Jayco range, an off-road with a traditional design, or any other options using our calculator.
To easily compare RV loans, request a quote from Jade Caravan Finance.
DISCLAIMER: THE DETAILS AND INFORMATION IN THIS CONTENT ARE PREPARED AND PRESENTED PURELY FOR INFORMATION AND NOT INTENDED IN ANY WAY AS THE SOLE SOURCE OF FINANCIAL ADVICE FOR CARAVAN PURCHASING. IF ADDITIONAL FINANCIAL ADVICE IS REQUIRED, READERS SHOULD REFER TO A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY ERRORS, PRODUCT DESCRIPTION VARIATIONS, OR OTHER MISREPRESENTATIONS OF INFORMATION AS PRESENTED.
