Do you like traveling all over France? A caravan loan via a car loan is often the best solution to finance your vehicle. We will see the conditions for obtaining a caravan credit. We will see above all how to obtain an immediate answer in principle to his request.
How to Get the Best Rate for a Caravan Credit
How to choose your caravan
To start, the first step is to choose your caravan. There are different types of caravans and completely opposite ranges. It is for example possible to find a second hand caravan for 2000 USD or 2500 USD, but also new models for more than 20 000 USD. The type of loan most suited to a motorhome or caravan loan is not the same depending on your needs.
One of the most important decisions is whether to start a new or used caravan purchase. You should know that the price of a new caravan can range from $ 10,000 to $ 30,000. A price to which must be added any options such as the TV antenna or air conditioning, not always included in the purchase invoice.
Advice: it is sometimes wise to look at the second-hand models that it is possible to buy from an individual or a dealer, to enjoy better comfort at the same price or simply a better price purchase and therefore an easier caravan credit to repay.
What loan to finance a caravan?
Once the caravan has been found, all that remains is to find the cheapest caravan loan to be able to buy your new second home. The caravan credit is a car loan for organizations or different lending establishments . This is also the case for all other vehicles, including mobile home credit.
However, it is compulsory to provide proof of purchase (purchase order) to the credit institution or banker to obtain it .
When it is impossible to submit the purchase order, it is to a personal loan that we must turn. Caravan credit is therefore different from an unjustified project loan, such as travel credit.
Caravan loan rate comparison
The best solution for a caravan loan is to compare the different market rates according to the amount and the duration of repayment.
It could not be easier. We take care of collecting the different APR rates from the largest credit organizations. Maintained daily, we present the ranking of the best rates suitable for caravan loans.
Take for example a 20,000 USD loan. For this caravan loan, it suffices to choose a car loan of 20,000 USD to be repaid over 72 months to see the difference between the rates of the credit organizations offered:
- Lowest APR rate: 4.90% / Monthly payment: $ 320.18 / Total cost of caravan loan: $ 3,052.96
- Highest APR rate: 7.79% / Monthly payment: $ 346.04 / Total cost of caravan loan: $ 4,914.88
A saving of 1,861.92 USD is not nothing for a caravan loan of 20,000 USD. This money can be used to add more options to the caravan or to reserve this money for gas, food and leisure.
Caravan loan financed with car loan
If the purchase is made on a new caravan, the best thing to do is to go through a car loan at the best rate for caravan credit. This type of loan will take advantage of a rate at the lowest in the market. However, it will be necessary to add to the loan file a documentary evidence of the purchase of the caravan. Remember that you must include the options in the total price of the caravan loan application so that you do not have to add money from your pocket.
Personal loan for caravan credit
A second solution may be to take out a personal loan in order to be able to use the borrowed money as desired and without any justification whatsoever. This gives the advantage of being able to use the money from the caravan credit to both buy the desired caravan and at the same time plan the vacation budget such as gasoline, food, or the location (s) planned to rent. In any case, it is a credit without proof of purchase. After all that, it will only remain to take the road to enjoy our beautiful France which remember it is the most tourist country in the world.
Good to know: the caravan credit, like any consumer credit, grants a withdrawal period of 14 days (see here how to withdraw).