Buying a caravan or motorhome can be the culmination of years of planning, either as part of your retirement or as a way of spending more time with your family now that you have grandkids who might need looking after during the school holidays. Whatever the reason, chances are that you won’t have enough saved to buy your vehicle, or you want to combine your savings with finance to give you the greatest number of options.
Before you get started on this, however, there are some important things that you need to consider to make sure that you get the best deal possible and can enjoy your time in the right caravan or motorhome for you.
Start by finding the right broker
There are many options for financing a caravan or motorhome, including hire purchase or personal contract purchase and hire. However, the most popular method is to buy the vehicle using finance, and there are plenty of options here, too.
If you’re uncertain about what sort of deal you can get, you need to visit the website of a reputable company like Auto Finance Online, which will be able to tell you what’s available to you and how much the repayments are likely to be given the amount you want to borrow, the timespan, and your credit rating. You might even find that you have finance options when you might have thought they weren’t available to you.
Knowing how much you have got to spend can mean you can tailor your search accordingly, so you can look at motorhomes with the confidence that you can afford them rather than getting your hopes up looking at a certain model only to find you’ve been wasting your time.
Look at the other expenses involved
As well as the monthly payment for your finance, you also need to look at the other expenses involved with owning a motor home. This can affect how much you feel happy to borrow, so they can’t be overlooked.
You need to consider fuel costs, as the engines in motorhomes are typically larger than engines in a domestic car, and consequently,they’ll use more fuel. With gas prices still quite high, this needs to be built into your budget.
As with the fuel costs, the insurance for your motorhome might not be the same as you’ve become used to with your domestic car. You can shop around for deals, but you need to ensure that you also consider this cost when working out your overall costs.
Depending on which model you buy, you might find it impossible or impractical to keep your vehicle parked outside your home all year round, especially if you’re part of an HOA. This means that you’ll need to find somewhere to store it when it’s not in use, and while there’s likely to be no shortage of options, none of them will be free.
Finally, make sure you’renot paying out for features you don’t need
You will have seen by now that there’s a wide range of vehicles, and they all come with features and extras that make some models stand out from the crowd. You need to ensure that you’re only paying for what you need and not forking out for features that you’ll never use, like, for instance, bike racks in the back if you have no intention of cycling anywhere.