Caravan and Camper Trailer Finance Pre-Approvals
Written on the 10 September 2019 by Nathan Drew, Fox Finance Group
Be Prepared to Grab a Deal at the Show
Heading to a Caravan and Camping show? Apply now for your Camper Trailer or Caravan Loan Pre-Approval and put yourself in the driver's seat to be able to grab yourself a bargain.
Having your caravan loan or camper trailer finance pre-approval set up ready to go before you walk through the gates at the show, means that you are fully prepared to take advantage of the show specials if you fall in love with your perfect adventure-ready camper trailer or caravan.
Buying a caravan or camper trailer at the show can be an exciting yet daunting time. Over their lifetime, most Australian's make on average, 5 big-ticket purchases throughout their whole lives, so we understand why you could be a bit apprehensive and want to make sure you are getting the right deal and not paying too much.
So how does it work?
What is a finance pre-approval?
A finance pre-approval means that a lender has agreed, in principle, to lend you a pre-determined amount of money for you to go and make your purchase. This pre-approval sits in place but hasn't proceeded to a full or final approval. It allows you to know what your maximum available funds are so you can narrow down your search and negotiate with more certainty knowing that your money is sitting ready for you if you do find the right bargain at the show.
What are the benefits of having a finance pre-approval?
Let's use buying a camper trailer and an example. If you're looking to purchase a camper trailer but you're not sure how much you can spend, it's difficult to know where to begin. You might find a camper trailer that seems perfect, but you have no idea whether it's a realistic option for the budget that you can afford. Having a finance loan pre-approval for a specific loan amount means that you can narrow your search down for your camper trailer to this budget and price range. This can save you time and energy at the show by knowing exactly how much you have to spend and what model camper trailers you could be looking at.
Loan pre-approval can also make you a more attractive prospect to the retailer that is selling the caravan or camper trailer. Having your loan pre-approval set in place before you head to the show indicates that you're serious about purchasing right now at the show, and that you are keen to snag yourself a bargain right now.
This means that the retailer will be more willing to spend more time with you to ensure that everything is how you'd like it and to get your business. You will be the one on the stand getting all of the attention from the retailer for the right reasons. Keep in mind, as mentioned previously, having your loan pre-approval in place puts the bargaining power back into your hands.
What are the drawbacks of having a finance pre-approval?
There aren't any drawbacks to obtaining a single loan pre-approval, but making a number of loan enquiries at the same time or trying to have several loan pre-approvals set up in a short period can potentially harm your ability to borrow.
We speak to customers all the time that have been sucked into "show finance deals" at super low rates that they simply didn't qualify for in the first place. This approach can put a number of hits onto your credit file and reduces the chance of you being able to get the "right loan" first time.
Another positive about getting a finance pre-approval set up with one of our Lending Specialists is that it remains obligation free until you decide to purchase and proceed with your camper trailer loan or caravan loan. If for some reason you don't find the bargain that you were looking for, there is no cost to you for not proceeding with our loan pre-approval. You really have nothing to lose by setting up your loan pre-approval and having the peace of mind that you can afford what you are about to commit to, which is the purchase of your new caravan or new camper trailer.
Learn more about what lenders think of your credit file and why it's important to not apply for a loan with a number of companies at the same time.
One last tip!
Make sure that you speak with one of our Lending Specialists, they know what each lender is looking for. Why is it a good idea to do this? Ideally you only want to make one application for loan pre-approval with the right lender that is best suited to your needs. This is what a good Finance Broker will do.
Learn more about what the difference is between speaking with a Finance Broker Vs going straight to your bank.
What do I need to do next?
It's simple. You can either speak with one of our Caravan Loan and Camper Trailer Loan Specialists on 1300 665 906 or apply online in minutes now and one of our team will contact you to discuss your options at a time that is convenient for you.
Why choose us?
The information which is summarised herein does not constitute financial or other professional advice and is general in nature. It does not take into account your specific circumstances. Any finance offer is subject to financier approval and terms and conditions will apply. Please contact us for more information relating to your specific needs.
Author: Nathan Drew, Fox Finance Group
About: CEO - Fox Finance Group