While caravanning is a year-round activity and a great way to travel, the peak season for caravan holidays is definitely summer and school holidays. With the September school holidays approaching and the sprint-summer seasons gradually nudging winter out of the way, thoughts should be turning to caravan time. That may involve purchasing a new or the first RV which may require caravan finance.
The weather is definitely set to warm up in coming weeks and the demand for new caravans is likely to heat up as well. For those purchasing a new caravan or RV and requiring caravan finance, a range of decisions need to be made around the type of RV and the caravan loan. Caravan owners who are upgrading will likely have set ideas already around what they are looking for in the newer RV. Experience will have told them what they need and they want. First-time RV buyers on the other hand may require assistance or direction when it comes to exactly which RV will suit their holiday and travel plans.
Many prospective buyers will have flocked to recent caravan shows to take advantage of the opportunity to see many makes and models in person in one place. But then it comes down to assessing the options and making that final all-important buying decision.
When it comes to caravan finance, many buyers may require assistance in sourcing the cheapest interest rate loan and the finance with terms and conditions that work for them.
We provide some guidance for all types of buyers with a range of aspects for consideration around the choice of RV and specific information on sourcing the cheapest caravan finance.
Selecting a New RV
A lot of input will go into making that decision around which particular make, model and type of RV to purchase. Here’s a few pointers to keep in mind:-
- Type of RV – traditional caravan, camper trailer, motorhome, campervan, pop top, slide on or toy hauler.
- Destinations – do you require fully off-road, partial off-road, hybrid or standard.
- Length of travel which may frame the level of comfort required, storage capacity and other inclusions.
- Number of people required to accommodate – this will determine the number of beds and the floor plan.
- Toys and sporting equipment that needs to be brought along – toy haulers are great for taking bikes, canoes, kayaks, dive gear and other bulky items.
- Towing vehicle – does your current vehicle have the towing capacity for the RV being considered? Some models can be towed by a standard passenger car while others require a much larger vehicle.
- Towing skills – large models are heavier and that can present challenges when towing. Avoid accidents by staying within your personal capabilities.
- New caravan or a used model.
- Local Australian manufactured or imported brand.
- Price! Usually a key determinant for buyers.
If unsure where your decision process is going, refer to some of the expert caravan travel websites for reviews and advice. There are many aficionados, owners and specialists that share their experiences.
Before making a final decision, check the transport department in your state for regulations around caravans. These cover towing rules, licence requirements and other aspects and are worth reviewing.
Check with the caravan industry bodies about manufacturing regulations which are currently in the process of review. The industry association also lists manufacturers that are accredited with the association.
Consider what safety equipment may be required and what extras you may like such as awnings, extra storage, upgrade packs and other add-ons. Your Jade consultant may be in a position to include extras and accessories in your loan.
Caravan Finance Options
Loans to purchase caravans and RVs are available through a range of sources but not all are created equal! Banks, finance companies, manufacturers, dealers and specialist broker-style lenders like Jade Caravan Finance all offer caravan finance. Differences, however, can exist in the interest rate charged on the loan; the type of interest rate; conditions around the loan and the ease of application and settlement.
Some lenders that operate across multiple lending markets may not offer a specific caravan loan but a general leisure goods loan. We see our offer of a specifically structured and named Secured RV Financing as evidence of our commitment to the sector, our expertise in the area and our interest in assisting our customers to secure cost-effective finance.
Used caravans may attract a higher interest rate than new caravans. Use our quick caravan loan calculator if comparing both.
Our clear points of specialist differentiation continue when it comes to interest rates. Rates are rising as the RBA increases the cash rate in light of soaring inflation. But we continue to maintain our edge in the market with our better Caravan interest rates.
While checking out interest rates, also note whether the lender is offering a fixed or a variable rate. We focus on fixed rates. Opting for a variable rate leaves the rate and repayments susceptible to rises in line with market fluctuations and more rises are tipped for this year.
So that’s a snapshot to get buyers thinking in the right direction when it comes to RV selection and finance sourcing. For more detailed information specific to your requirements give us a call and have an obligation-free conversation with one of our consultants.
Contact Jade Caravan Finance on 1300 000 003 to discuss cheaper interest rate 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.