As the technology has become available, finance calculators have emerged as a resource for those considering taking on finance and loans. These calculators are widely available on websites for banks, finance companies, broker-style lenders like ourselves, as well as dealers and manufacturers that offer finance to customers. While widely-available and easy-to-use, what can caravan buyers realistically expect when using a caravan finance calculator to assist with purchase decisions?
More and more people are using online resources, apps, platforms and programs to make life easier and more efficient. But the use of online tools comes with cautions and general guidance around many aspects including cyber-safety.
We encourage RV buyers to utilise our Caravan Finance Calculator to help with a number of decisions around choice of make, model and in planning how they may like their RV loan structured. But in addition to encouraging use of this valuable resource, we urge users to consider the disclaimer around its limitations and use and seek a confirmed quote from our consultants.
Users of any online tool, including caravan finance calculators should be fully across how they operate, how to understand the results displayed and appreciate the limitations to avoid any issues.
Our Caravan Finance Calculator which we want people to utilise effectively and productively. To assist in getting the most from using the calculator we set out clearly what to expect and what to do next when using our calculator.
Using Caravan Finance Calculator Effectively
In using an online, generic device such as the calculator, users need to be crystal clean on what they can expect and preferably not make major purchase decisions based entirely on the results shown on such as device. We’re not questioning the validity of these tools. When used as designed and intended they can be very useful.
Across the range available, most online finance calculators will have similar operational steps. But there can be differences. For example, some may ask for users to register their details. If a user feels uncomfortable with using an online calculator from a particular site, then don’t.
Our Caravan Finance Calculator is available with no charge and can be easily used on devices with internet access. The basic steps are simple and the instructions quite clear. Simply type in the figures in the boxes or fields as indicated and click on the calculate button.
The result shown is an estimated monthly finance repayment based on the figures entered. Change the figures for the price of a different RV to see the result for that vehicle. It can be a great way to cull the wish list when considering models across a wide price range.
Effective and considered use of our caravan finance calculator can assist buyers in making decisions about deposits and down payments. A deposit can reduce the loan amount which in turn reduces the repayments over the same loan term.
It also assists with decisions around whether or not to include accessories and options in the finance amount or to pay for them separately.
Why does the calculator show an estimate and not an actual quote?
The calculations displayed are estimates only. The reasons why are extremely important to understand and appreciate:-
- Not all fees and charges which may apply to your particular loan are included. These vary across lenders and until the lender and loan type is selected, these would not be exactly known.
- No allowance can be made for the individual specifics of the user’s credit profile. An assessment of the credit profile determines the interest rate offered and other conditions of the loan.
- The credit profile also determines the loan amount which a lender will approve. The calculator user may put in the entire purchase price of the RV as the loan amount as they may be seeking no deposit finance. We offer no deposit caravan finance but this aspect of the loan still needs to be approved by our lenders.
- The loan term preferred by the user may not be approved by the lender.
- The RV being purchased needs to be accepted by the lender as security against the loan. While there is rarely issues with new vehicles, this still needs to be approved.
For these reasons, the result calculated with general use of a caravan finance calculator are not quotes or loan offers and definitely not approvals for loans. Caravan finance is consumer finance which comes under the regulatory powers of ASIC. Laws are in place to protect consumers. Lenders must abide by these laws and that includes fully assessing each loan application and not making a loan deemed unsuitable.
Post-calculator Action - Comparing Loan Rates
After using the caravan finance calculator and seeing the result is in the ballpark, the next step is to contact us for a quote based specifically on your requirements. For those looking for the lowest rate caravan finance, quotes can be requested before purchase decisions are made. This can be done on a pre-approved finance basis.
We offer pre-approved finance for all our loans and this can be another great assistance for buyers. It can be safer and sensible to proceed to place an order based on a confirmed quote or a pre-approved loan rather than based only on what a calculator reveals.
Our Caravan Finance Calculator is a great device and when used effectively, can greatly assist caravan buyers with many decisions. But a firm quote should be sought for a confirmed loan offer.
Contact Jade Caravan Finance on 1300 000 003 for a quote on 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.