No, sadly we can’t help you with finance for static caravans. This is because some of the rules around static caravans are a little different. You could, for instance, be living in the caravan full time, or for as long as you are able each year, which means it is a place of residence, rather than somewhere you visit a few times a year. This might affect things like the type of insurance you need and so on. The finance our lenders offer isn’t designed for this, it’s for people who want the caravan as a holiday home only.
The lenders we work with offer three different types of caravan finance. If you apply, you’ll be offered one of the following: - Hire Purchase (HP) – this is the one you’ll probably know already. You don’t own the caravan until you’ve made all the monthly payments. Until that time, you are simply hiring it from the finance company. At the end of the contract, the caravan is yours. - Personal Contract Purchase (PCP) – a bit like HP, only at the end of the contract you haven’t paid for the caravan in full. If you want to own it, you can pay what’s called a balloon payment, you’ll be told how much this will be when you sign the contract. You can also decide to hand the caravan back, [...]
Applying for caravan finance can be quick and simple, if you have the right bits of paperwork ready. We’ll need to know a bit about you, just the usual stuff, like your name, age and address for the last three years. We use this information to carry out some ID checks and to check your credit score too. We also need to know who you work for and what you earn each month. This is so the lenders on our panel can carry out their checks to make sure they are lending responsibly. And that’s it for the first stage. The lenders might want to see other documents, like your driving licence, further down the line, but we’ll let you know when that time comes.
Yes, we can. We’re proud to say that we are often able to find the right caravan finance for you when others can’t. We know that sometimes things go wrong with money, it can happen to us all. This can sometimes damage your credit score, making it hard to get approved for finance. We understand this and have taken the time to find lenders who specialise in offering finance to those with a credit score a little on the low side. And there’s more, if you are offered finance and you keep to the monthly payments, your credit score improves. We think that’s pretty great.
You can take up to 10 years to pay back the money you borrow on finance for your new caravan. Let’s face it, with the current international travel restrictions in place, now could be the perfect time to get yourself a nice little place by the sea, in the heart of the Peak District or in the highlands of Scotland. Whatever takes your fancy, we know that making it happen will mean a significant amount of money to pay out. That’s why we make sure we have lenders on our panel who offer finance contracts that last 10 years, making it more affordable for you.