Like all applications for finance, we’ll need to know a little about you. We ask for this information for a few reasons, we’ll use it to check your: - ID – we need to make sure you are who you say you are - income – we have to check how much you earn and who you work for - credit score – this helps us understand your circumstances so we can provide you with best finance for you That’s all you’ll need to give us to begin with. If we find finance that suits you, and you decide to accept it, the lenders will almost certainly need to see your driving licence and maybe other documents, like MOTs in some instances, to complete the finance process.
There are three types of motorhome finance offered by the lenders we deal with. You’ve almost certainly heard of one of them and you’re probably familiar with the others too. Hire Purchase (HP) – this is one of the most commonly used types of finance.The lender pays the dealer and takes ownership of the motorhome. You then hire the motorhome from the dealer, you make your monthly payments until it’s paid in full and then the ownership passes to you. Personal Contract Purchase (PCP) – this is very similar to HP, the finance company pay the dealer, the motorhome is theirs and you pay an agreed monthly amount to hire it from them. At the end of the agreed time, you have three options. You can either: - hand it [...]
Yes, please do. We have a number of lenders on our panel who specialise in offering motorhome finance to those with a less-then-perfect credit score. We’ve done this because we feel very strongly that those with a credit score on the low side shouldn’t miss out on getting finance for their new motorhome. Sadly, having a low credit score does mean that you won’t be eligible for the best deals, but we’re confident there’ll be finance to suit your circumstances, if there is, we’ll find it. Plus, using finance to get another motorhome will, as long as you keep to the agreed payments, help you improve your credit score, which will help you get better deals in the future. We like the sound of that.
The maximum time you can take is 10 years. We’ve chosen lenders who offer longer terms simply because we know a motorhome can be quite pricey. And, it’s usually something that’s in addition to your other family vehicles. Plus, if you’re going to be using it for holidays, you want it to be something you’re really happy with for many years to come. Taking finance over 10 years may allow you to borrow more, so you can get something slightly better than you thought you could. You can, of course, choose a shorter amount of time to pay it back, but 10 years is there if you want it.
Firstly, we’re really happy to hear that you want to buy a motorhome, good choice! We have lenders on our panel who’ll offer you from £2000, right up to £250,000. However, how much you can borrow will depend on a number of factors, including your credit score and your income. We won’t know these until you’ve completed a quote with us, then our panel of lenders will tell us if they can offer you finance and for how much. What we’re really saying is, we can’t tell you how much you can borrow until we know a bit more about you. If you fancy finding out, ask us for a quote.