Caravan finance

[anton Smith]

Hi guys,

Any hints or advice on getting finance for a new van?

I have mine just about sorted but want to make sure I haven't missed anything.

 

[Soaring]

Just rolled it into the mortgage. What's an extra 45k?:lalala:

 

[Capt. Gadget]

Just rolled it into the mortgage. What's an extra 45k?:lalala:

Same here

 

[Adam G]

If you're in Melbourne, I know a good finance broker.

 

[Burnsy]

Yep...mortgage would be your cheapest rate!

 

[anton Smith]

Im in Wa and managed to get finance at 6.5% from my business broker.

Thought it might be an interesting thread to start for people at looking to buy a new van. Not many caravan yards seem to be interested in organizing finance for new van owners.

 

[Chooky]

Only problem with mortgage is your paying the van off for 25yrs the same as your house, might be cheaper now but not in the long run. We got ours through GE cheaper than any of the banks.

 

[Soaring]

Only problem with mortgage is your paying the van off for 25yrs the same as your house, might be cheaper now but not in the long run. We got ours through GE cheaper than any of the banks.

thats one way of looking at it. Another is looking at available cash flow.
Our mortgage has an offset facility where my pay is deposited straight into it it. Any direct debits come out, and the offset balance reduces the total interest of the mortgage.
As long as you are not absolutely mortgaged to the hilt and cannot afford to keep pumping money either directly onto the mortgage or the offset, you can take advantage of record low interest rates.

 

[Bushman]

I have a mate that does vehicle finance, whenever I ring he says "how much you want this time?"

 

[Patto]

thats one way of looking at it. Another is looking at available cash flow.
Our mortgage has an offset facility where my pay is deposited straight into it it. Any direct debits come out, and the offset balance reduces the total interest of the mortgage.
As long as you are not absolutely mortgaged to the hilt and cannot afford to keep pumping money either directly onto the mortgage or the offset, you can take advantage of record low interest rates.

We have a similar arrangement, and can get access to finance at a much cheaper rate than the car/caravan yard or finance coy. You just need to be disciplined enough to make extra payments to the mortgage (or offset account) to cover the extra amount (just like you would if you borrowed the money from the finance coy).