Caravan Finance: The Benefits Of Pre-Approval
Loan pre-approval means you can browse caravans for sale with confidence and secure your new caravan sooner.
To pre-approve a loan, lenders like our finance partners Stratton Finance evaluate your financial situation and advise how much you can borrow, as well as the expected interest rates and repayments.
Pre-approval doesn’t lock you into a loan. But it does give you a good idea of how much you can borrow to purchase that caravan you’ve been dreaming of.
With record low interest rates and a favourable lending environment, there’s never been a better time to secure financing for a big-ticket item. Let’s look at how pre-approval can get you on the road sooner.
Browse caravans for sale with confidence
Knowing your budget limits will immediately make the caravan search less stressful. You can narrow your search by browsing caravans for sale online within a budget band, then skip the shonky dealers and talk to people who have the models you’re considering.
Plus you know what’s in and what’s out: how many sleeping spots, extra features, customised add-ons (and don’t forget insurance and registration).
Better buying position
Loan pre-approval instantly makes you a caravan dealer’s favourite customer. It shows you’re serious about the purchase and already have an idea of what you want. Not only will that put you in a better negotiating position, it also means the dealer will keep you in mind when new stock arrives.
Tip: Be honest about your budget. Here at New Age Caravans Gippsland, we are committed to getting the best deals on Australia’s favourite caravans. If we know your budget, it’s easier to find the right fit.
Get your caravan sooner
You don’t want to miss out on a good deal because your finances are still up in the air. Caravan financing is a smoother process than securing a home loan but it still takes time. Pre-approval means you can save time by skipping the normal approval steps and securing financing faster. In most cases the financing period can be shortened from 3-4 weeks to just a fortnight or less.
How does loan pre-approval work?
Finance lenders who offer pre-approval for assets like caravans (and cars, houses etc.) will start by evaluating your current financial situation:
- Assets and liabilities
- Credit history
This allows them to establish a risk profile. From there they can set a lending limit, secure the best interest rate, and advise on repayments.
Remember: pre-approval is conditional, usually for a 30 to 90-day period. Given the expiry window, we recommend having an idea of what you’re looking for before speaking to the Stratton Finance team for loan pre-approval.
You can browse caravans for sale with the confidence that if nothing changes the financing offer will still be valid, but you are not locked into a loan until you sign the final paperwork. And we can help – with a huge range of caravans for sale and the experience to find just what you’re looking for, New Age Caravans Gippsland can get you on the road to adventure in no time.