Buying a campervan is a dream come true for many people, but it can be a costly investment. Campervan finance is an option for those who are looking to buy the campervan they’ve always wanted, so they can begin exploring the world almost immediately. At camper_versions, we offer just that – flexible, affordable finance options without the hassle through our trusted supplier.
Read on to see our guide to campervan finance so you know exactly what you need to consider when buying your dream campervan.
Where do you start with campervan finance?
Before getting your heart set on a campervan, it’s important to set a budget and know how much you have available. That way, you can work out if you even need campervan finance. If you find that you do, work out how much you need and check to see if you can borrow your desired amount.
It’s worth sorting out your finance options before you begin shopping around and purchasing your campervan. You don’t want to end up starting the process of owning your own campervan, only for your dreams to come to an end because of issues arranging finance.
Tips for buying your campervan on finance
It can be quite a minefield when it comes to campervan finance – but it doesn’t have to be. Here are some things you might want to consider if you’re thinking about purchasing your campervan with finance.
Consider putting down a deposit or trading-in a vehicle
When purchasing your campervan, you might want to consider putting down a deposit as this can affect how much you repay each month if you need campervan finance. The amount of deposit can also affect the number of years your finance agreement is over. Similarly, if you have a vehicle you can trade-in, this can make all the difference to your repayment amounts and to the length of your finance agreement. If you have a vehicle that you are wanting to sell to help fund the purchase of your campervan, you need to start the process of selling it as soon as possible. It might be a private sale, or for a quicker sale there are many main dealers and independent car sale companies looking to buy used vehicles, as the demand at the moment is so high because of long delays building new cars. You will be pleasantly surprised how much they will offer you.
But don’t worry if you don’t have a deposit or a vehicle to trade-in towards the cost of your campervan, because you may still be able to finance the whole amount, subject to credit checks.
Keep your repayments affordable
Whilst finance is a great option to ensure you get the campervan of your dreams – and quickly – it’s also important to make sure you’re able to afford the repayments. If you fall behind, it can affect your credit rating. So always ensure you’re comfortable with the monthly cost and the length of time you’re repaying.
As mentioned, paying a larger deposit – if you’re able to – can help reduce the amount you pay each month. You could also finance your campervan over a longer period of time to reduce your payments, but keep in mind the longer the finance period, the more interest you’ll pay.
Remember other maintenance and running costs
As well as thinking about the amount you may need to borrow, you should always remember to factor in other ongoing maintenance and running costs. This can be things like fuel, MOT and servicing, insurance and tax to name a few. It can often be forgotten about in the excitement of buying your dream campervan, but something you should always consider, because you don’t want your budget to get out of control. You should also consider Euro 6, which is a cleaner engine that doesn’t pay the new “Clean Air Zone” charges springing up in cities all over the UK. All our campervans have this new Euro 6 engine, even the pre-owned and older stock.
Always read the small print
Before signing on the dotted line, always make sure you read the terms and conditions. By reading the small print, you know exactly where you stand and it also makes you aware of any penalties and fees. It’s particularly important to be aware of these fees if you decide to sell your campervan before your finance agreement comes to an end or you wish to overpay on your monthly repayments from time to time.
What are my campervan finance options?
There are many different ways you could purchase your campervan with finance. From a personal loan, to hire purchase, you certainly have a lot of options on offer. But before jumping into something too quickly, it’s important to do your research and weigh out your options.
When you buy a campervan from camper_versions, we have finance options available from our trusted supplier Pegasus to help you spread the cost. With flexible, affordable finance options, they aim to make the process of buying your next campervan or conversion stress free.
Start your journey with camper_versions
If you’re ready to start your journey to find your perfect campervan, then take a look at the range of vehicles we have available right now. With bespoke conversions available along with flexible, affordable finance options, your dream of owning your own campervan could soon be a reality! Want to try before you buy? Take a look at our vehicles available for hire and see what it’s like to live the life of a happy camper!