How can I get a caravan with bad credit?

If you’re looking to purchase a caravan, but you have bad credit, you might be able to qualify for a bad credit caravan loan. A bad credit loan is aimed to help those with bad credit still qualify for funding, and is usually offered by specialist bad credit lenders. While your credit score will usually count for a lot when a lender is considering your loan application, using a bad credit loan could make the process a little easier if you do have less than perfect credit.

Read on below to find out how you can get a caravan with bad credit.

How can I get a caravan with bad credit?

If you’re wanting to purchase a caravan, but your credit isn’t too great, it’s still possible to get your loan application approved. Some lenders offer a loan option called a bad credit loan, which is designed for people who may have found previous loan repayments difficult to keep up with, who have not had the financial experience to have a high credit score, or who have a lower credit score. If you’re looking to purchase a caravan with bad credit, this type of loan could suit you perfectly.

When you apply for a loan, a lender will generally look at a range of factors when considering your application. Your credit record is taken into account as one of these factors, but there are other factors considered too. These might include:

Credit history – Most lenders will check both your credit record and credit score. However, this may not be the only factor that they consider. Some lenders may also offer specialty loans for those with bad credit.

Income – Lenders will usually want to know the details of what you earn, and how often. This is to get an idea of how much you can afford when it comes to repayments. If your application is a joint one with a spouse, both incomes combined would then be taken into consideration.

Expenses –Your lender may ask for details on how much you typically spend on everyday living expenses. These type of expenses could include rent, utility bills and groceries.

Other debt – If you have other loans or credit cards, your lender will take these into consideration when they review your application. Having other repayments to meet could affect your ability to meet your caravan loan.

Loan amount – How much you are applying to borrow could also affect the outcome of your caravan loan application. Some lenders could be more likely to approve you if you are seeking a lower loan amount compared to a large amount. This, of course, would also depend on your other factors proving positive.

Where can I apply for a bad credit loan?

It can be difficult to be approved for a caravan loan with bad credit as traditional lenders can be hesitant to take a chance on you, and may even reject your application solely based on your credit score.

However, not all lenders feel this way. Some specialist lenders are experts in giving people with bad credit a second chance. These types of bad credit caravan loans can make it easier for you to get that caravan that you’ve been wanting, without having to wait.

You might find that private lenders are more likely to offer bad credit loans compared to traditional lenders, such as banks. There are many advantages to using a private lender for a bad credit loan, such as faster processing times, easier approval and fewer application requirements, to mention a few. When applying for a bad credit loan, your lender may wish to see forms of identification, proof of income, and details of your debts.

Where does Tiger Finance come in?

If you’re ready to purchase your caravan, you’ve come to the right place. Tiger Finance can have you approved for a caravan loan quickly and easily, no matter what your credit score is. We can have you approved on the same day that you apply. You won’t need to wait days or weeks for your loan to come through, and we can provide you with a flexible loan to suit your needs.

We have helped countless Australians with both good and bad credit ratings to be funded for their dream caravan. When you call us, 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 that dream caravan.

How we can help

Our loan experts can make the entire process simple and pain-free. We can find you the right loan quickly and easily. If you’re ready for an adventure in your dream caravan, call us today for your free initial consultation with one of our loan specialists. It’s never been a better time to get out and explore. Don’t wait!