Compare caravan finance
Can you get a caravan on finance?
Can I get 0% caravan finance?
Key features of caravan loans
- Loan terms. The terms can include the loan duration as well as interest rates and repayment plans.
- Loan amounts. The amount of money that you are allowed to borrow.
- Get a personalised quote. This will give you an indication about the terms in which a provider will lend you money, and will have no bearing on your credit rating.
- Price matching. Some providers offer a price guarantee to match or beat offers from other providers.
- Monthly repayments. You will be able to repay your loan in monthly installments.
- Repayment holidays. This is an agreed period with your lender, perhaps either one or two months, where you will not have to make repayments. However, interest will still build up.
- Quick decisions. Providers will usually make a fast decision about whether they will lend you money or not.
- Access to funds. You are able to get access to all the funds upfront.
- Fees. You may incur extra costs, such as interest or late payment fees.
- Perks. With some loans, there may be special benefits such as a 0% interest period.
- Overpayments. If you wish to pay off your loan sooner than agreed, making overpayments is the way to do it. Most overpayments will not incur a penalty so long as you remain within the overpayment limit. It is important to check the small print of your loan before you make an overpayment.
- Early repayment. For many loans, you will incur a penalty and additional costs if you repay your loan in full earlier than expected.
How should I compare different loans for caravans?
- Loan amount. The amount that you can borrow will differ between lenders, so make sure you have a value in mind when choosing your loan.
- Interest rate. There are some loans available that are interest-free, which will save you some money. If the loans you are considering are not interest-free, make sure you take the interest rate into consideration.
- Fees. You may be required to pay upfront or ongoing costs that will add to the cost of your loan.
- Eligibility criteria. Whilst you may be eligible for some loans, you may not meet the criteria for others.
- APR. The Annual Percentage Rate is designed to provide consumers with an annual summary cost for the loan, including any setup fees and interest. Different loans will have different APRs, but it is important to remember that they are only representative, and your costs may be more expensive.
- Loan terms. The length of the loan period may differ between providers, as well as the terms and conditions of taking out the loan.
- Overall cost. As well as the loan amount, you should also take into consideration any startup costs and any interest.
- Early repayment. Although you may find yourself in a position to pay off your loan early, some loans charge extra costs if you repay your loan too early.
Am I eligible for caravan finance?
- You are over the age of 18.
- You will be no older than 70 when the loan term finishes.
- You have been a UK resident for over 3 years.
- You have a regular income above £12,000.
- If you are self-employed, you have been so for over 2 years.
- You must have a good credit rating, with no history of bankruptcy or county court judgements.
- You hold a UK bank or building society account that is able to pay direct debits.
How can I apply for a caravan loan?
- Your ID
- Your address details for the past 3 years.
- Your current income and employment details in the form of payslips and bank statements.
The bottom line
A new caravan is a major purchase, so if you need financial help to fund it, it’s definitely worth comparing what you’d pay using each of the options available. Whether you opt for in-store finance, or a personal loan, there are options for spreading the costs over an agreed period.
Frequently asked questions
More guides on Finder
Lenders that use Open Banking 2023
Learn more about how Open Banking works and how it could benefit you.
How much can you borrow with a personal loan?
Personal loans can help you cover many types of costs. Learn about funding limits and how to qualify for the maximum loan amount available.
Marks & Spencer loan calculator
Considering an M&S Bank personal loan? Use our calculator to work out how much you’ll pay back and how M&S holds up against the competition.
Compare laptop loans
In need of a new computer but not sure how you can afford it? Whether your computer is broken beyond repair or you need one with more storage, we’ve put together a guide to help you find the best laptop loan for you.
Compare £3,000 loans
Compare £3,000 fixed-rate personal loans from popular lenders and learn how to give your application the best chance of success.
Compare £2,000 loans
Compare £2,000 fixed-rate personal loans from popular lenders and learn how to give your application the best chances of success.
What happens when a loan company goes out of business?
Learn what happens to your loan and how to proceed if your lender goes under.
Compare personal loans for part-time employees
Just because you don’t work a 40-hour week doesn’t mean you can’t get a personal loan. Find out what you need to apply online and what your options are.
How much money do you need to earn to get a personal loan?
Your income is a crucial factor in determining how much you can borrow and if you’re even eligible. Find out exactly what you need to know before you apply.
Compare personal loans vs remortgaging
Learn the benefits and drawbacks of personal loans and mortgages. See how the rates, loan amounts and terms compare side by side.