Even if you’re not an avid follower of the finance markets, you’re probably still quite aware that interest rates are currently at very low levels. In fact, historic low levels. Interest rates are a major determinant of the lending market and as such, lending rates are also at quite low levels compared with some periods in recent history of economics.
This scenario is likely to have many people considering buying wish-list recreational goods including caravans. With coronavirus putting a hold on air travel and cruising holiday plans and many seeking a more accessible and affordable holiday, caravans are shaping as a popular alternative.
At Jade Caravan Finance, we see these factors combining to create the ideal time to contact us for a cheap caravan loan to purchase a camper, RV, caravan or mobile home. Mind you, we don’t wait around for interest rates to head down to offer great interest rates. It’s our signature move and with interest rates at these low levels, we can offer our caravan customers low rate caravan finance.
So how do current low interest rates translate into cheap caravan loans?
We’re taking time-out to give you a quick explainer in as basic terms as possible.
- You’ll see different interest rates advertised by different banks and lenders for different types of loans. Home loan rates differ from car loans, boat loans may differ from caravan loans etc. That’s because each lender set their rate based on their own assessment of and experience in lending to that sector.
- Lenders have to factor in their own cost of sourcing their own funds and that can differ due to a range of factors including global impacts.
- Banks and lenders simply price their loans differently.
- Interest rates on personal loans are usually higher than rates for business loans.
- Unsecured loans attract a higher interest rate than secured loans.
How does Jade Offer Cheap Interest Rates?
- As Aussie Finance brokers we are accredited with many banks and lenders so we have the advantage of being able to source the best interest rates from a wider field.
- Some of our lenders are industry-only, so individual borrowers cannot access these sources.
- Always offering the best interest rates possible is at the core of our business model.
- Determination! Our consultants work hard for our customers. We negotiate with lenders to achieve the cheapest interest rates for our customers.
- Bargaining power. As long-term finance brokers, we are acknowledged as significant participants in the lending sector and have built up a track record of writing a lot of business with many lenders.
That’s just a few reasons why using the services of Jade Caravan Finance gives you a better chance of securing a cheap interest rate caravan loan.
Making Cheap Interest Rates Work for You
It’s one thing to be have cheap interest rates available. But the real benefit is realised in the way you structure your caravan loan. The way you make cheap interest rates work for you. Work towards realising your financial goals in the future or meeting cash flow requirements in the short term.
- Cheaper interest rates can allow you a lower monthly repayment over the same loan term compared with higher rates. This may assist you cash flow, especially if you are on a fixed income.
- Alternatively, you may want to pay off your caravan faster and therefore choose a shorter loan term with a higher repayment level.
- The shorter loan term would mean you would pay less in total interest over the term of your caravan loan.
These are the types of options that your Jade Caravan Finance consultant can assist you with achieving. Assisting customers to achieve flexibility in structuring their loans is central to our service offering, but is not something that is always available when individuals approach banks directly.
Very often, banks and lenders will have strict guidelines governed by ASIC responsible guidelines on caravan loans and borrowers must comply. Giving very little room to structure their loan to suit their needs.
Arranging Your Cheap Caravan Loan
Simply contact Jade Caravan Finance and one of our consultants will provide you with a caravan loan quote and on accepting, will assist with the paperwork to streamline the entire process.
While interest rates are low, why not take to the road in your own caravan!
If you’re ready to talk cheap caravan loans, call Jade Caravan Finance 1300 000 003 and have an initial discussion with one of our consultants.