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Can I Use My Loan To Buy A Caravan From A Private Seller?

Can I Use My Loan To Buy A Caravan From A Private Seller? | Tiger Finance

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If you’re looking to purchase a caravan using a financial loan, you might be wondering if you can use your funds to buy a caravan from a private seller. Usually, unless your funds are coming from a dealership, you should be able to purchase a caravan from a private seller. However, it’s important to check your loan terms with your lender before you buy to make sure.

Caravans can provide you with a great way to explore, but finding the right caravan is not always easy. If you happen to come across your dream caravan being sold through a private seller, it usually will not be a problem to purchase with your caravan loan.

Read on below to find out more about purchasing a caravan or RV from a private seller.

Woman inside looking online at private seller caravans | Financial Information | Tiger Finance

What are caravan and RV loans?

Caravan and RV loans can help finance the purchase of a new or used caravan, usually through a private or commercial sale. Rather than paying the full price for a caravan upfront, having a loan allows you to enjoy all the perks of owning a caravan or RV, although with the flexibility to pay the funds back over a period of time.

Caravan and RV loans are a specific type of loan. They work in much the same way as traditional loans do for other purposes, such as buying a car. 

When it comes to caravan loans and car loans, they follow a similar financing structure. A lender will generally provide the borrower with a specific amount of money relating to the cost of the vehicle, and that will then be paid back by the borrower over an agreed-upon period of time.

Can I use my loan to buy a caravan from a private seller?

Generally, once you have received the funding for your caravan, you should be able to purchase it from a private seller if you wish. Unless your loan is conditional to your caravan being purchased through a dealership, your lender may not mind if your caravan is privately purchased.

You may find that are many advantages to purchasing a caravan through a private sale. One advantage of privately purchasing a caravan could be that you get the opportunity to speak directly with the previous owner. This means that you may have the chance to ask specific questions about the history of the caravan you are looking to purchase, and also receive some much more detailed information on its condition.

In some cases, you might find that a private sale caravan might be a bit cheaper to purchase compared to a dealer caravan. This could be because a private sale seller would not have same the overhead costs that a dealership would, and so a private dealer might be able to keep their prices a bit lower, and in some cases, more reasonable. However, if you do purchase your caravan through a private seller, it will not come with a warranty or any assurance in regards to the condition, like it would if you had purchased through a dealership.

There are both advantages and disadvantages to choosing a private seller or a dealership for your caravan purchase, and you would have to decide which is best for you before you purchase. However, a caravan loan would generally cover your purchase from a private dealer, and some dealerships may also sell a caravan to you if you have received your loan funds elsewhere.

Family caravan purchased from a private seller | Financial Information | Tiger Finance

Where does Tiger Finance come in?

We have helped countless Australians with both good and bad credit ratings to be funded for their dream caravan. The lending criteria from other lenders can be far too strict when you have bad credit.

With Tiger Finance, we can help to get you a loan in four easy steps. You will have a free consultation with one of our specialists, and we will tailor-make you a loan. We will negotiate with lenders on your behalf before you are approved. You won’t find an easier way to get approved for a bad credit caravan loan.

How we can help

Tiger Finance is here to help you to get your dream caravan regardless of your credit score. We can make the process simple and pain-free. With our quick application process, we can have you approved on the same day that you apply if you’re able to meet our criteria. Our loan specialists will make the entire process stress-free.

If you’re ready for an adventure in your new caravan, call us today for your free initial consultation with one of our loan specialists.

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