When it comes to financing caravans, cars, boats, bikes or even personal loans for that matter I cannot help but think the general public are swimming in the dark!
Financing a Caravan
The first thing people do when they start to explore finance options when buying a caravan is to speak to their bank. They believe that because they have a mortgage or a long running relationship with there bank that they will be looked after or receive preferential rates. This cannot be further from the truth.
Regardless that the customer is mortgaged, has a high credit score and perfect banking conduct they get offered a one size fits all rate which heavily favours the bank. Another common thought people have while searching for caravan finance is that the dealership in where they are purchasing the asset from will give them a great rate. They get quoted an attractive rate at the start of the conversation to excite the customer and to get a commitment from them to proceed with the loan, only for the customer to find out when they are finalising the loan that the rate they were quoted at the start is not actually what they can receive, potentially leaving thousands of dollars in the dealerships pocket. Dealerships make large sums of money financing unsavvy consumers who purchase from them one day and once the loan is settled, the customer service is non-existent. Sadly consumers who finance through them are just another number to the dealership.
Low Interest Rates From 3.99% Fixed – 5.25% Comp Rate
Low Rate Caravan Finance
The more clued on Consumers may shop around online for low rate caravan finance but have to apply to non-bank lenders themselves directly and risk lowering there credit score by making multiple enquiries on their credit file, just to see who can get them the lowest rate. They then find out that this process can itself lower their credit score and put them in to a higher caravan finance rate bracket which ultimately will cost them more for finance.
Using a Finance Broker
So, what is a Consumer to do if they are serious about saving themselves money, protecting their credit score, and ensuring they get the lowest rates and repayments in the market for their profile?
Get in contact with a Finance Broker! Finance Brokers have access to the best bank and non-bank lenders in the market. A finance broker will work hard to protect your credit score by matching you with the best lender the first time, they have the most knowledge in the market of the bank and non-Bank lenders. A finance broker will have a guarantee to get you the lowest rate and repayment in the market for your profile. Most importantly a fiancé broker will give you exceptional customer service whilst working hard for you to achieve the desired result. The reason for this is the finance broker wants you to be a customer for life! Finance brokers are there for you to call for the life of the loan if you have any questions or queries or require any assistance also.
So, the next time you’re looking to finance a boat, bike, car, caravan or even jet ski and you are serious about saving money, pick up the phone and call your finance broker. You will be pleasantly surprised how much money they will save you.
Finance Specialist – Broli Finance