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Caravan Finance

A caravan loan can help with purchasing a brand new or used motorhome or caravan. It works in a similar manner to a personal loan, with repayments made to the lender each month.

A caravan loan can help you purchase a new way to enjoy your travel lifestyle. Though you’ll own your new motorhome outright, you should be certain you could afford monthly repayments to the lender for the amount you borrowed. Find out more below.
  • A caravan loan can help cover the cost of a new caravan or motorhome.

  • You should be sure you could cover the monthly repayment plan you’ll owe your lender.

  • In most cases, you’ll own the caravan outright.

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What is a caravan loan?

Caravan finance is a type of personal loan where money is raised in order to buy a caravan or motorhome, either new or used. Although it means you can fund a new vehicle as soon as the loan is approved, you should be certain you could afford monthly repayments before making an application. You’ll own your caravan or motorhome outright, but you will have to pay back the loan on a monthly basis.

How do caravan loans work?

Caravan loans are like regular personal loans in that you agree to borrow a lump sum from a lender, which you then pay back over time. Payments are usually due monthly, and their total amount depends on how much you borrow and how much you can afford to pay back each month.

There are two ways you can arrange a caravan loan:

Once you find a suitable loan, apply and are accepted, you’ll receive the money to go out and shop for your vehicle. Then you’ll repay what you’ve borrowed in regular instalments over an agreed amount of time.

New vs used caravan

Although you’ll have the choice between buying new or used, how much you borrow may determine whether you can afford to buy brand new. Find a vehicle that’s in good working order and suits your needs before applying for a loan to make it yours. See the Caravan Club’s checklist for buying a second-hand caravan. Have an idea of your budget before applying and always be certain that you have the finances to cover the monthly payment plan.

You should do plenty of research on any caravan or motorhome you may want to purchase. It’s best to go and view the vehicle before making any financial agreements with the seller, if you can. This way, you can be certain there are no major defects and are aware of any work or repairs that may need doing.

Applying for a caravan loan

Applying for a caravan loan is the same as applying for any personal loan. You’ll need to complete an application with some personal details and, if asked, how you’re planning to use the money.

This information will be considered and we’ll let you know if you’re likely to be approved or not. If everything goes well, the money will be transferred into your bank account to be used to cover the cost of your new wheels.

Commonly asked questions about loans

We take a look at some common queries around our loans to help you decide what type you may prefer.

Am I eligible for a loan?

Every lender has their own tick list for eligibility, so we search our wide range of loan products to find the one most suited to your circumstances.

If CCJs are causing you problems, you’re self-employed or have bad credit, we can help you find a loan. Retired? There are plenty of caravan loans for pensioners too. We’ll help you find the right one, so you can enjoy your new vehicle.

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