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Caravan Loans With Bad Credit

15 Jun Today's
best rate
Caravan loans from
3.99 %
Fixed
With a low
5.22 %
Comparison*
*The Comparison Rate is calculated on a Secured Loan of $30,000 fixed for a term of 5 years, new goods, effective 15/06/2021 and subject to change. WARNING: The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

Caravan Loans Bad Credit

Want to experience the freedom of exploring in a motorhome? But you’ve been rejected by your bank for caravan finance due to bad credit or a poor CR report. Don’t be disillusioned and dejected, Jade have turned rejection into acceptance, finance nightmares into life’s dreams and dejection to joy for many people. Maybe we can do it for you, too!

Our friendly Jade consultants are assisting people like you every day for bad credit caravan finance. We know that people find themselves in this situation for a range of reasons and we know the problem is not insurmountable. There’s no need to be embarrassed or fear rejection. We’ll actually listen to your story, be understanding of your individual circumstances, appreciate your goals and set to organising you a great caravan loan deal!
Unlike many banks and other finance institutions, we have the flexibility to assist people with poor CRA or lower or no deposit options, with very attractive camper, motorhome, RV and bad credit caravan finance.

Jade makes the difference.

Jade Caravan FInance is part of a group under the Jade Financial Services banner, which has an enviable reputation, earned over 5 years of experience as a fully accredited business in the financial sector.
Through our longevity and experience, we have established strong relationships and connections with many lenders which gives us access multiple lending and insurance products. Products which cover the full spectrum of loan requirements, purposes and customer profiles.

We have the skills and expertise that will get you on the road!
Our consultants know which of these lending products will suit you, which are flexible with bad credit applications and which ones will make you an attractive caravan loan offer to finance your new leisure goods.
We know how to structure your application for greater approval success. That’s something that you may find extremely difficult to do on your own, with direct contact with lenders. If you don’t tick all their boxes, their stringent rules don’t give them any room to move.
Your Jade leisure goods and motorhome consultant will handle all these details and make all the contacts for you. They will negotiate the best interest rate possible, finance term and conditions to suit your budget and present you with the options for your final decision. You are under no obligation to proceed until the final decision stage. On your decision to accept an offer, our consultant will even mediate on your behalf through the application approval process.
You can carry on with your life, work, enjoyment, while we do all the work for you.

Attractive Caravan Loans for Bad Credit.

While the interest rate offered to applications with credit issues may not be as low as applicants with an excellent credit history, we can still structure a very attractive loan package for you.

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Request a free finance quote by calling 1300 000 003 or directly online.

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Bad Credit Caravan Finance FAQs

Credit issues can be a major obstacle to sourcing loans and can hold people back from pursuing their life plans. But when it comes to sourcing a caravan loan, bad credit does not have to mean a complete halt to your holiday and travel plans on the road. Bad credit caravan finance is a specialist area and we appreciate you will be wanting direct answers before proceeding. Please review our responses here or call us on 1300 000 003 for a confidential and no-obligation discussion with one of our consultants.

Should I try to improve my credit issues before applying for caravan finance with bad credit?   

As a standard part of the loan application assessment process, lenders will review the applicant’s credit profile. A credit profile includes a credit score or rating and lenders use this as a major determining factor in extending credit for all purposes. A credit score is based on the information in a credit report. This information is an individual’s history of applying for loans and credit as well as repayments, defaults and debts of a range of accounts, bills and loans. These reports are held by a number of credit reporting agencies. Individuals are entitled to free access to a copy of their credit report and score every 3 months. There is a set procedure for fixing any issues which a credit report. This can be due to out of date entries or errors. Before applying for lending it can be useful for an individual to address any issues with the credit report to enhance their prospects of a better deal.

What interest rate will I get for a caravan loan with bad credit?   

Interest rates on lending are established by lenders based on a number of factors starting with the official cash rate which is set by the RBA. Individual lenders then assess their exposure to a certain market sector and/or interest in lending to that sector in deriving the interest rate they will offer for lending in that area. Those interest rates which are advertised by lenders are typically the best rates achievable by applicants with good credit. When assessing individual applications, lenders will assess the risk associated with an applicant which is their assessment of the prospects that the loan will be repaid in accordance with the repayment schedule. Applicants with credit issues would be assessed as a greater risk than those with good credit and it can be assumed that a higher interest rate would be applied to those loans. As each application is assessed individually, applicants would need to request a quote to source a confirmed interest rate on their particular financial application.

Is there a loan limit for caravan loans bad credit?   

All loan applications are assessed by lenders on an individual basis and determined by the specific details of each application. In general terms, many borrowers can include the total purchase price in their lending with no absolute ceiling in the sector. The most highly-priced models can be financed. But lenders assess individual applications based on an assessment of the ability to furnish that level of debt. A higher-priced item will incur larger monthly repayments than a lower priced item. The lender’s assessment will be impacted by credit history issues. A lender may reject a financial application for the total amount being applied for and in these circumstances request the borrower to reduce the overall amount. This may be done by the applicant paying a deposit to the seller.

What loans are available to finance caravans with bad credit?   

For individuals purchasing a vehicle for their personal private leisure use, the financing products available are the secured and unsecured loans. Secured lending is the most widely used and follows a basic format where the goods are used as security by the lender against the credit being extended. The borrower repays in equal monthly payments over a fixed time period. This product is suitable for all types of personal loan applicants. Where the goods are not considered suitable or acceptable security by the lender, unsecured lending can be applied for. As no security is offered for this type of finance the interest rate is typically higher than for secured finaning.

How do I apply for a bad credit caravans loan?   

All categories of applicants can apply for lending using the same application process. The applicant can complete an online application form or complete the process by phone with their selected lender or broker. The applicant must be over 18 years of age, have employment or other income and provide a range of information around their financial situation, employment and residential history and furnish a number of documents to verify the information. Each application an individual makes for credit is reported to credit reporting agencies and entered on the individual’s credit history. Multiple applications for the same financial product can reflect negatively on the credit score. Using the services of a lender with multiple connections to access finance on behalf of the individual circumvents these negative impacts.

Can I make extra payments on a caravan loan with poor credit?   

Yes. Both secured and unsecured personal lending include the option for the borrower to make extra payments in addition to the scheduled monthly repayments. When establishing the financial process, a schedule of equal monthly repayments will be established over the fixed period. Borrowers then have the choice to make additional payments if desired. As interest on consumer finance is calculated on a daily basis, the borrower would realise a benefit from a saving on the interest charged. If making extra payments the monies cannot be withdrawn but can be used against future repayments. By making extra payments the amount would be paid out prior to the scheduled end of the term. For loans with a fixed interest rate, paying out the amount early attracts break fees which can be minimal. For lending with a variable interest rate no break fees usually apply for financials paid out early.

What lenders provide poor credit caravan financing?   

Major banks and many finance companies operate under strict guidelines around consumer lending and rarely offer this type of finance. Applicants would need to source specialist lenders that do extend this type of credit. These are usually found in the non-bank lending sector. Non-bank lenders are finance provider that operates across many lending markets but does not have the official banking status which means essentially they do not hold deposits. Non-bank lenders can offer a wide range of financial products and due to the nature of their structure, can be more flexible in extending this type of lending. Some of these lenders operate only on an industry-to-industry basis. That means they do not work directly with consumers but through brokers and broker-style lenders. Using the services of such companies can be of particular benefit to applicants with credit issues.

What conditions apply to bad credit caravan loans?   

This is a specialist category of finance that is available through a select range of financiers. All applications are reviewed, assessed and addressed on an individual basis and considered on the merits of the applicant. Special conditions may be applied to loans and these will vary depending on the particulars of the application and the requirements of the individual lender. Conditions may include placing a limit on the total amount of the credit so the applicant would need to reduce the percentage of the purchase price being requested; additional security being offered against the lending amount; and a higher interest rate than is offered to other applicants. Any conditions would be discussed at the point of application so the borrower can assess the overall offer in its entirety.

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