Caravan Finance | Caravan Loans | Caravan Lease

 

RV Finance Terms

The maximum term of a loan for caravan finance or a caravan lease is five (5) years. Some lenders may extend this term to seven year. You may find that if you are looking to finance a older caravan the lender may approve only on a smaller term depending on the size of the caravan.

 

Caravan Loans Structure

The are a number of choices that you may consider when arranging finance. Lenders can vary in what products they offer. Different things to consider:

Deferred repayment structures - so you first payment starts at a later date. A standard caravan finance loan has the first payment paid when you do the finance paperwork and pick up your new caravan.

Interest only payment options - including balloon payments. Have a amount of money paid all at the end of the loan. Warning though, you will pay more interest. You can refinance the balloon when it comes due (subject to the lender approving you), pay it out if you are financial enough or trade and upgrade your caravan and have the balloon amount taken off the value of the trade in.

Structured caravan loan repayments - to suit your your work cash flow and how you get paid. This could be seasonal payments, annual payments of just an extra large payment when you expect some cash to come in.
 

 

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