CAMPING - BUYING ADVICE
A financial contract may get you the camper you want, rather than having to settle for a lower-quality or second-hand unit.
For those of us who love the outdoors a camper trailer is one of the best ways to experience Australia’s bush highlights. If you don’t have the money for the camper trailer you want, a finance package is a possibility, but how can you make sure you’re getting the best deal on camper trailer finance? Here are some tips that might save you a lot of money.
If you talk to a lender or broker you need to know the answer to these questions:
What is your budget for spending after essentials?
What are your main sources of income (especially important for retirees)?
What does your credit history say about you?
You should always check your credit history before applying for any finance package or loan. This way you’ll know if there are mistakes on your credit history that need to be cleared up before you seek approval.
Knowing what your budget is for repayments and other costs, including insurance, gives the lender vital information up front.
Look to finance a new camper, not a used one.
A new camper trailer appeals to lenders because it has no unknown history and predictable value, which means they can offer lower interest rates, thanks
to a lower risk.
Shop around specialised camper trailer or leisure product brokers for the best deal you can get, but don’t apply until you’re sure you’re ready to go.
Extra credit checks may put black marks on your credit history.
A personal loan is a possibility, but you may pay more in interest because it’s not a secured loan.