Caravan Finance

We understand that buying a caravan is a significant investment, which is why we offer flexible caravan finance options to help make your dream caravan more accessible. Whether you’re purchasing a brand-new model or a used caravan, our finance specialists can help you find the right solution to suit your budget. Explore our competitive rates and tailored finance packages, designed to get you on the road sooner.

Use the easy online application to find out your finance options today. Link to application below.

Caravan Finance FAQs

What factors will lenders consider when I apply for caravan finance?

Lenders look at several key factors when assessing a caravan finance application. Your credit history plays a big role, and having a good credit score improves your chances of approval and can help secure a lower interest rate. They’ll also check your income and employment stability to make sure you can comfortably meet repayments. Your existing debts will be taken into account, as high debt levels may impact your eligibility. Lastly, lenders consider the value and age of the caravan, as it often serves as security for the loan.

What are the potential costs involved in caravan finance?

There are a few costs to be aware of when taking out caravan finance. Interest rates vary between lenders, so it’s worth comparing options to find the best deal. The loan term also affects costs: longer terms mean lower monthly repayments, but you’ll pay more interest over time. Other fees can include application and establishment fees, as well as early repayment charges if you choose to pay off your loan ahead of schedule. Insurance is another key expense, as most lenders require comprehensive cover to protect your investment.

What ongoing costs should I factor in beyond loan repayments?

Owning a caravan comes with additional expenses beyond your loan repayments. Caravan insurance is essential, and you’ll also need to budget for regular maintenance to keep your caravan in top shape. If you’re not using your caravan year-round, storage costs may apply. Fuel is another consideration, especially if you plan on travelling frequently, and caravan park fees can add up depending on where and how often you stay.

What should I know about loan terms when it comes to caravan finance?

Loan terms can vary quite a bit, so it’s important to choose one that fits your budget and financial goals. A shorter loan term means higher monthly repayments but less interest paid overall. On the other hand, a longer term will lower your monthly costs but increase the total interest paid over time. Think about what works best for your financial situation before committing to a loan term.

Is it better to get a fixed or variable interest rate for caravan finance?

Both fixed and variable interest rates have pros and cons. A fixed interest rate means your repayments stay the same each month, making it easier to budget. A variable interest rate, however, may fluctuate with market conditions, meaning your repayments could go up or down over time. If you prefer certainty in your repayments, a fixed rate might be the better option, while a variable rate could be worth considering if you’re comfortable with some risk.

Can I finance a caravan for full-time living?

Yes, you can, but lenders may take a closer look at your application. They’ll want to ensure you have a stable and reliable income, whether that’s from remote work or another source. Some lenders offer specific loan products tailored to full-time caravan living, so it’s worth checking what options are available. Keep in mind that insurance can be more complex when a caravan is used as a primary residence, so you may need to explore specialised cover.