Get a caravan loan to purchase the vehicle that suits your desires and budget, and hit the road at your own pace during your holidays.
Caravan Loan: Be Ready for Your Vacation
If vacation to you means adventure and freedom, why not buy a mobile home? You’ll enjoy full autonomy, free from time or accommodation constraints. If you’re on a tight budget, consider a mobile home loan to finance your purchase.
A Tailor-Made Loan to Buy a Caravan
The purchase price of a mobile home generally ranges between 35,000 and 60,000€ depending on the range and the available options. Investing in such a vehicle requires significant capital. If your finances don’t allow it, a mobile home loan is an advantageous solution to cover the purchase and better manage your budget. As part of installment loans, this type of credit is suited for financing the purchase of your vehicle partially or completely. It is worth noting that the amounts granted are sometimes capped. Being able to justify a personal contribution allows you to reduce the borrowed capital or to buy a more expensive mobile home. This way, you can also benefit from a more advantageous interest rate. Another benefit is better managing the amount of monthly installments and limiting the risk of over-indebtedness.Depending on the loan granting conditions, some credit organizations may offer up to 120% or 110% of the estimated value of the vehicle. The extra included in the loan amount can be used to cover additional costs related to the purchase of a mobile home. This includes insurance premiums, road tax, potential repairs, and registration fees, among others.Caravan loans are fixed-rate credits. The interest demanded on motorhome loans by your lender generally ranges between 2.95% and 4.95%. The applied rate depends especially on the condition of the vehicle, its age, and the repayment duration. Under the best conditions, the term can extend up to 144 months, or 12 years.
What Can You Buy with a Caravan Loan?
This type of loan is intended for the financing of a recreational vehicle. It allows purchasing a mobile home, of course, but also a caravan, motorhome, or camper. Like a car loan, it is suitable for buying either a new or a used vehicle. Eligibility conditions vary from one lender to another. To opt for this formula, favor a used caravan under 7 years old. Beyond that, banks offer to contract a personal loan to finance your project. It’s important to know that the lowest interest rates are often available for new vehicles and recent used ones. Taking out insurance to cover installment payments in case of non-payment or death also influences your motorhome loan approval.
How to Choose Your Caravan Loan?
It is advised to study the rates offered before signing your contract. A credit tip, consider using a loan simulator. This tool allows you to compare multiple credit offers for free at once, right from your office or home. In just a few minutes, you’ll find the contract best suited to your income and projects. Based on your budget and repayment capabilities, you can select an offer depending on the caravan’s price, the monthly payments, and the repayment period.Feel free to schedule an appointment with an advisor to learn about the loan conditions. They will guide you through all the steps, up to the activation of your credit. Many credit organizations provide the possibility to apply for your loan online. To do so, fill out the provided form on their official website by submitting your email address. Your lender will send you the preliminary contract via email within a maximum of 48 hours. If you decide to confirm your request, simply return the duly filled and signed contract by fax or mail. Some banks can approve requests within 24 hours of receiving the file. Once your loan is approved, your lender will make the requested amount available in your account.Simulate a caravan loan online.
