Finance a Camper Van
Why Finance a Camper Van?
Purchasing a Camper Van is a serious financial event…..the price of camper vans and motorhomes surged during the Covid lockdown period and is showing no sign of coming down.
Stock is still fairly limited on brand new camper vans so the value of used camper vans and motorhomes remain high.
Most people do not have sufficient cash available to be able to purchase their camper van or motorhome outright, so finance is an option.
Benefits of financing a Camper Van or Motorhome
Financing a campervan or motorhome can offer several benefits, including:
- Affordable Ownership: Camper vans can be a significant investment, and financing allows you to spread out the cost over a period of time. This makes ownership more affordable by breaking down the large upfront expense into manageable monthly payments.
- Immediate Access: Rather than waiting until you save up enough money to purchase a camper van outright, financing allows you to acquire one immediately. This means you can start enjoying your adventures and making memories sooner.
- Flexible Payment Options: Financing gives you the flexibility to choose a payment plan that suits your budget and financial situation. You can select the loan term and down payment amount that works best for you, ensuring that the monthly payments fit comfortably within your means.
- Preserves Cash Flow: Opting for financing allows you to preserve your cash flow. Instead of tying up a large sum of money in a single purchase, you can allocate your funds towards other priorities such as travel expenses, maintenance, or personal savings.
- Improved Credit Score: Financing a campervan provides an opportunity to build or improve your credit score. Making regular and timely payments demonstrates responsible financial behaviour, which can positively impact your creditworthiness in the long run.
- Tax Deductions: In some cases, the interest paid on camper van loans may be tax-deductible, particularly if you’re using the camper van for business purposes. Please note however that this is an area that can be very complicated and we cannot offer advice on tax matters so we always suggest that you speak with your accountant or tax advisor.
- Increased Buying Power: With financing, you can potentially afford a higher-quality or better-equipped camper van than you could with an upfront cash purchase. By spreading the cost over time, you can expand your options and choose a camper van that better suits your needs and preferences.
Remember to carefully evaluate the terms and interest rates offered by lenders to ensure you choose a financing option that aligns with your financial goals and capabilities.
We will be pleased to help you in your search for camper van or motorhome finance available from our panel of lenders.
Please get in contact to find out more.