FAQ

No. Loans are assessed, offered and approved based on aspects of the applicant’s credit profile and ability to repay a loan and aspects of the camper trailer in regard to new/used and the loan amount or purchase price meeting the lender thresholds. Where the buyer intends to take the camper trailer for recreational and travel purposes is not taken into consideration with the loan process. Loans for on road, semi-off road and off-road vehicles attract the same conditions and guidelines. The insurance policy that you will need to take out on your camper trailer may be impacted by where you intend to travel, but that is up to individual insurers to determine.

Yes. Both Secured Loans and Unsecured Personal Loans have the option to pay out the loan before the end of the loan term. These loans are arranged with a fixed loan term. If your circumstances change and you choose to finalise the loan before that time, you can contact the lender for what is known as the payout figure. This will be an amount which covers the principal loan outstanding, interest to the time, set fees and charges and break fees. Break fees are charges by lenders when a loan is paid out early. For Secured Caravan Loans and Unsecured Loans with fixed interest rates the break fees are minimal. For loans with a variable interest rate, no break fees normally apply.

You can apply initially either online or via phone. When dealing with a finance broker you will be assigned a consultant who will handle your loan and assist you through the process. After providing the consultant with the necessary information and details in line with consumer credit regulations, they will proceed to source you a quote from our lending panel. This includes negotiating the cheapest interest rate on your behalf. The quote will be presented to you and all aspects of the loan explained. On acceptance of our quote, your consultant will proceed to the next stage of the loan processing through to approval. They will also assist with the paperwork, liaise with the seller if requested and handle the final steps through to settlement. Settlement is when the lender pays the seller for your camper trailer.

In general, lenders do not request that borrowers pay a deposit on the loan itself. Lenders can work towards achieving customers a loan which includes the full purchase price of the camper trailer where requested. This would be known as no deposit finance. The term is sometimes used as a promotional slogan to attract buyers where the dealer is also offering finance. As such it is in some ways unnecessary as lenders do not usually request deposits.There are some circumstances where a lender may request that the loan applicant pay a larger deposit for the purpose of reducing the overall loan amount due to income assessment and servicablilty of the loan.