Never purchased a caravan or RV and wondering where to start? Depending on your approach, one place to start the decision-making process is with using a caravan finance calculator. There are many issues which need to be decided and options to be considered when buying a caravan. But for many RV buyers, one of the biggest is around the price. If the purchase is to be made with finance then the ticket price only tells one part of the story – the amount required in the caravan loan.
The more relevant information can be around how much the finance repayments could be. Working that out may be challenging for buyers without professional assistance. To assist buyers to decide which particular RV or caravan to purchase when the decision is based primarily on finance, using a caravan finance calculator can be extremely useful. A caravan finance calculator quickly translates purchase prices into loan repayments based on the data entered by the calculator user.
To elaborate on the true value of a finance calculator to buyers, we’re explaining how these tools can be used and including some basic guidelines around how to select a caravan.
RV Buying Considerations
Buyers who are unsure of which particular caravan, camper or mobile home to purchase can refer to the myriad of websites and other resources dedicated to this great lifestyle sector.
Some of the key considerations will include:-
- Travel plans in terms of terrain – whether an off-road, semi off road or on road vehicle is required.
- Length of time away – self-sustaining or not.
- Where staying – free camping or in holiday parks with power and other facilities available
- The number of adults and children to be accommodated.
- Vehicle to tow the RV which can determine size of the caravan and whether traditional or campervan most suitable.
- Level of luxury and comfort preferred.
- Number and type of toys to be transported.
- Storage options and costs.
- Traditional caravan or slide-on camper or mobile home or campervan.
- Purchase price.
- Finance affordability.
Where the price of the caravan is a high priority, starting the buying decision process with the caravan loan can be advisable. Specifically, buyers will be looking for how the caravan price relates to the caravan finance and the monthly repayments to assess affordability.
Value of a Finance Calculator as a Buying Resource
While the purpose of a caravan finance calculator is to calculate loan repayments, the process can be used to answer a number of buying questions and assist buyers in a number of ways:-
- An online resource, the calculator can be used from a mobile phone when at a caravan dealership to acquire loan details based on our cheaper rates when presented with a finance offer from the dealer or manufacturer.
- To compare any number of caravan prices in terms of finance repayments to better manage a wish list and get it down to the truly affordable options.
- Establish preferences in regard to the loan term and other specifics of the finance and set a target monthly repayment to brief our consultants.
- To make the important around no deposit finance or whether it is preferable to pay that deposit to lower the amount requested in the loan.
- Save valuable time with in-person inspections of caravan makes and models which are not affordable based on the preferred loan structure.
- To have the knowledge of how price translates to repayments to be well-placed to make a buying commitment as soon as the RV of choice is selected.
Using a Caravan Finance Calculator
Our calculator is extremely easy to use with no special skill required. Most RV buyers will suit our Secured Caravan Finance so the interest rates currently advertised for that loan can be used in the calculations.
Type in the amounts for the loan required, interest rate and finance term in the spaces indicated and click the link to calculate caravan loan calculator. Instantly the monthly repayment estimate for those amounts is displayed.
To calculate repayments on other caravans, simply repeat the process while noting the results for future reference.
We direct you to read the disclaimer with our calculator so you are fully aware of what the results indicate and what they do not imply. Importantly, the use does not imply application approval or a finance offer.
Interest Rate Variations
For the purposes of using the calculator to derive estimates, using the cheap interest rate we are advertising on that day is the right way to go. But users should be mindful that the RBA is currently normalising interest rates and increases in rates are expected in coming months.
The interest rate which applies at the time of submitting your loan application may be different from the rate advertised at the time you used the calculator.
Also note that the low interest rates promoted by banks and lenders, unless otherwise specified, are for new caravans and for good credit score applicants. Check your score and follow the suggestions on Moneysmart to improve it where possible.
A finance calculator can be extremely helpful to caravan buyers as can be pre-approved finance. Pre-approved caravan finance can be applied for to provide a clear indication of what amount you would be approved to borrow and what the repayments would be. This can be extremely helpful with selecting a caravan that suits your budget.
Contact Jade Caravan Finance on 1300 000 003 for a firm quote after using our finance calculator.
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.