Having your own caravan or motorhome is a symbol of freedom and boundless adventure. After all, such a vehicle enables you to travel to the most beautiful places and stay there without having to plan your destination. Because the right accommodation for a spontaneous overnight stay and meals is always included.
Unfortunately, this flexibility also means that a lot of money has to be taken in hand. Because if you want to own a motorhome or a caravan, you have to face the high purchase prices. Sums of 40,000 USD and more are not uncommon. A lot of money that most Caranvan fans have not saved and therefore resort to a loan for a caravan.
Credit for a caravan or would you prefer leasing?
Before taking out a caravan loan, you should consider whether you would like a classic loan or prefer leasing. In the case of a classic loan, the banks and savings banks will advise you to take out a car loan, since a caravan or motorhome is, in the figurative sense, a vehicle that requires this type of loan.
The advantage of a car loan for a caravan loan is due to the fact that the collateral for the loan is manageable. Even if you choose a rather expensive caravan. In addition to a good private credit checker and a fixed income, no further collateral is usually required, since the caravan is safety enough. The bank takes this as a “pledge” by keeping the vehicle registration document and can then ask you to return the caravan if you do not regularly meet your installment payment agreements.
In such a case, the bank would auction the caravan and settle the loan debt with the proceeds from the auction. Only after the loan has been paid in full will you own the caravan and you will be given the relevant papers.
This looks a little different with leasing. Here you do not buy the caravan, but rent it for a certain period of time. During this period you pay a kind of rent in the form of a monthly discount. Once the leasing deadline has passed, you can consider returning the caravan or triggering it. The second would be possible at the current value of the caravan.
Bank or dealer?
Most consumers choose to buy a caravan and therefore take out a caravan loan. But where is this best received? At the dealer and his bank? Or at an independent bank?
The credit from the dealer has the advantage that you don’t have to search for suitable offers for long. You can have the dealer make you an offer as early as the sales talk.
The disadvantage of this type of borrowing is that you don’t have a choice of which offer to use. Because the dealer will only make you an offer. In addition, you cannot benefit from the cash discount.
You often get this when you pay the caravan in cash. You can do this with a loan from an independent bank. If you record this there, you can not only compare different loan offers and filter out the best possible offer, you can also act as a cash payer at the retailer and request the coveted discount.
So you save on the purchase amount and can pay the installments for the loan for a caravan in small monthly installments. Designed the way your budget allows. Many banks now also offer payment breaks or debt rescheduling. You can also determine the amount of the loan yourself and thus perhaps also have equity flow into the purchase of the caravan. This reduces the loan amount again and you can pay off the loan faster.