Camper trailer finance

[rodneyb81]

Who are people using to finance their camper trailers.... Talked to a few of the camper finance places that advertise frequently but they are charging quite a bit on top of the bank charges and fee's to organize the deals .....

[Camel Tow]

Perhaps just try a normal bank / credit union / building society for a personal loan.

[speewa158]

Or if you want finance might your sights be set high . Why not go 2nd hand to start more bank for your buck . Try then upgrade , you know its crawl , walk , run   

[Kit_e_kat9]

My personal preference is:  If you can't pay cash for it ... you can't afford it ... wait and save until you can ... you'll appreciate it more.

Kit_e

[speewa158]

My personal preference is:  If you can't pay cash for it ... you can't afford it ... wait and save until you can ... you'll appreciate it more.

Kit_e

Well said 

[Bird]

My personal preference is:  If you can't pay cash for it ... you can't afford it ... wait and save until you can ... you'll appreciate it more.

Kit_e

I hear what your saying and sort of agree.

But some people arent that good with money, they can miss a few bux out of their pay for repayments, but if its in the bank it will burn a hole... also depends how much this bloke is talkin bout, $3000, or $50,000...

I could personally never save $50g's, If I ever got anywhere near $50,000 in the bank, the hole in my pocket would look like a dozen space shuttles taking off at once. Im Shit with money

[mystq]

Only loan I got is for the house, save if you can.

[Teabag]

Don't know many people that can pay cash for a house......TIC......$50k for a camper can be hard to save and your probably better off putting the extra coin into your house but we all know what we should do.Saving is far easier said than done.


Funny how the question is about finance for camper trailers and we get the moral save and pay cash BS. Does this answer the Q or help the person?

Sorry, my little rant.

My personal preference is:  If you can't pay cash for it ... you can't afford it ... wait and save until you can ... you'll appreciate it more.

Kit_e

[Campa]

sounds like kit_e_Kat's  pretty cashed up.  Hit her up for a loan 

[JCOJ]

If you can't pay cash for it and you have to finance it, the cheapest way to finance it is to redraw on your home loan as that will be your cheapest interest rate with no fees (usually).

However, you MUST go find out what the payments would be on a personal loan of the same amount over 3/5 years (or whatever term you were thinking), and then pay this amount back into your mortgage, otherwise you will be paying it off over the term of your mortgage and it will end up costing you more.

[Kit_e_kat9]

sounds like kit_e_Kat's  pretty cashed up.  Hit her up for a loan 

Don't I wish ... you seen the cost of shoes these days?   

Kit_e
My 1/2 of our camper is paid for though.

[Janbo]

I use the credit union, great rates and no penalty for early repayment !!

[Johnny Trackabout]

We have a great finance package at present 8.49%, no penalties for paying out early and no monthly account keeping fees....runs out on the 23rd dec...worth a look at

Cheers
JT

[Janbo]

We have a great finance package at present 8.49%, no penalties for paying out early and no monthly account keeping fees....runs out on the 23rd dec...worth a look at

Cheers
JT

I got that and no loan application fee!!!

[D4D]

Funny how the question is about finance for camper trailers and we get the moral save and pay cash BS. Does this answer the Q or help the person?

x2

If you can't pay cash for it and you have to finance it, the cheapest way to finance it is to redraw on your home loan as that will be your cheapest interest rate with no fees (usually).

x2

[HEM19X]

If you can't pay cash for it and you have to finance it, the cheapest way to finance it is to redraw on your home loan as that will be your cheapest interest rate with no fees (usually).

However, you MUST go find out what the payments would be on a personal loan of the same amount over 3/5 years (or whatever term you were thinking), and then pay this amount back into your mortgage, otherwise you will be paying it off over the term of your mortgage and it will end up costing you more.

Well said John, so many people access redraw funds & never increase their payments.

The next cheapest way is a separate loan using the house as security [provided that the set up costs do not require upstamping of your mortgage].

Hem

[fabulous]

The only comment I would make, is that if you get a personal loan, it's paid out and cleared within 3-7 years,  if you redraw, in effect you could take 15 yr+ to clear that part of the loan.

Home finance, or lending against your house is generally cheaper than personal loans.

I work in the finance industry, and you generally get finance to match the asset, ie a long term loan for a large long term asset, and a short term loan for a cheaper, shorter term asset.   You would expect the house appreciate in the long term, where as a camper wouldn't be worth a great deal after say 10-15 years.

Just my thoughts.

[homerj]

We used Essanda , better rates than the Bank's, some of the camper trailer company's are offering good deal's on finance as well , worth the effort to look into.




Cheers

[Silvo]

The only comment I would make, is that if you get a personal loan, it's paid out and cleared within 3-7 years,  if you redraw, in effect you could take 15 yr+ to clear that part of the loan.

Home finance, or lending against your house is generally cheaper than personal loans.

I work in the finance industry, and you generally get finance to match the asset, ie a long term loan for a large long term asset, and a short term loan for a cheaper, shorter term asset.   You would expect the house appreciate in the long term, where as a camper wouldn't be worth a great deal after say 10-15 years.

Just my thoughts.

thanks for that, i was thinking the same but didn't mention it.

i found dave at fortified finance was the solution for us.

http://www.fortifiedfinance.com.au/

daniel

[bussoboy]

we went with Camper Trailer Finance - Don was a breeze to work with. I would of gone personal loan but with a few other issues that wasn't gonna happen for us.

also thought about saving, but the deal we got was a once in a lifetime kinda thing so it was worth the extra interest rates we are paying. the money we saved for a cheaper trailer was used as the deposit meaning i only needed to borrow 70% of the buying price.

[JAB]

For my 2c worth I would also recommend re-financing against your mortgage for best rate.

Be careful of financing whereby they state the minimum monthly repayment plan required for the life of the loan.  This can be just to cover interest and not include principle repayments (or minimal principle repayments).  I know of people who took out loans to pay for household items through the companies 'prefered' financier and at the end of the loan period they still owed money and had to pay interest @ 20 odd percent because they only paid what the financier stated was the minimum monlthy repayment.

[JCOJ]

The only comment I would make, is that if you get a personal loan, it's paid out and cleared within 3-7 years,  if you redraw, in effect you could take 15 yr+ to clear that part of the loan.

Which is why I mentioned that you need to add the payments that would have been made towards the personal loan go straight into the mortgage.  A good way of doing it as an automatic debit from your bank account - just like the loan company would.

[xmasbaby67]

To answer you question and not delve into any morals etc.....

We also did ours through Don Watts at Camper Trailer Finance.  Very easy to deal with and suited our situation.

Every situation is different, do what suits you.

[rotare]

Funny how the question is about finance for camper trailers and we get the moral save and pay cash BS

x3

[Janbo]

Just checked mine,Peoples Choice Credit Union, 8.42%, 100% loan, no accountkeeping fees, no penalties for early payment and even got no application fee....... Top that !!