Static Caravan Financing

It would be amazing to just be able to buy a static caravan by choosing the one you want and putting the money down, then simply enjoying it as you like. That's not an option for most of us, though. Luckily, there are static caravan finance companies that can help open the doors to caravan ownership.

Navigating the world of finance can be tricky, however, so here are some key tips.

Start by preparing your budget

It seems an obvious place to begin, and it is, but many don't consider the full scope of things they should take account of when settling on their budget. Your overall "caravan cost" will actually comprise of several different things:

  • Purchase price
  • Interest on finance payments
  • Running costs/pitch fees
  • Repairs and maintenance
  • Seasonal preparations

Think hard about your budget, and decide on it, before you even begin looking at available caravans. Falling in love with a certain caravan is great, but if it falls outside your budget you'll just be disappointed. Or you might be tempted to try and buy it anyway, ultimately risking getting yourself into financial difficulties.

Whatever your budget is, you should always leave yourself money free at the end of every month. It's impossible to think ahead for every eventuality, so prepare for the unexpected. Never leave yourself in a position of only just being able to afford your finance payments and the running costs of your new caravan.

Choosing from static caravan finance companies

There are a number of options when it comes to getting your static caravan financing. Specialist static caravan finance companies make a great option, as they already cater to that industry.

As with any loan, however, you'll need to prove several things before approval:

  • The price you're getting the finance on is representative of fair market value.
  • You're placing personal capital into the agreement, often a 10-30% initial deposit.
  • The monthly repayments are well within what you can comfortably afford to pay.
  • As with any loan, providers won't want to risk your financial security or theirs by lending to someone who can't afford the agreement they're signing up to. If you're unemployed, for example, you may find it difficult to secure a finance agreement.
  • If you do have a job, your lender may want to see your recent financial history and references before accepting your application. This is to check you can afford the repayments, and to get an indication of your reliability and responsibility.
  • If you're self-employed, you can still apply for static caravan financing. Your lender may require you to have been trading for a certain period of time, however, as well as see a history of your business finances to accurately judge your overall income. They may also want to know any future plans you may have for your business, as they may affect your ability to repay.

Choosing the best static caravan finance rates

Getting the best finance rates depends on your willingness to shop around. You're likely going to find the most attractive deals from specialist finance providers who cater for static caravan buyers. They will have several packages and options available, which have been developed and tailored through experience dealing with multiple buyers before you.

You can go for a conventional bank loan, if you prefer, but you may find that interest rates are disagreeable. It's also a concern that the relatively unpredictable state of the wider financial climate might make it harder to get a successful application.

In many cases, static caravan retailers may also offer finance packages on the caravans they sell - as is the case with Salop Leisure. This can be a compelling option, as in many cases these finance packages can be more accessible to all budgets.

Choosing the best static caravan finance rates

Getting the best finance rates depends on your willingness to shop around. You're likely going to find the most attractive deals from specialist finance providers who cater for static caravan buyers. They will have several packages and options available, which have been developed and tailored through experience dealing with multiple buyers before you. You can go for a conventional bank loan, if you prefer, but you may find that interest rates are disagreeable. It's also a concern that the relatively unpredictable state of the wider financial climate might make it harder to get a successful application. In many cases, static caravan retailers may also offer finance packages on the caravans they sell - as is the case with Salop Leisure. This can be a compelling option, as in many cases these finance packages can be more accessible to all budgets.

Why use us?

When it comes to life’s big decisions, finding the right advice can make all the difference. Salop Leisure’s matching service will provide you with unbiased advice and a personalised service from an expert who is focused on your best interest.