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quoteBuying a caravan is a major investment, but most owners will tell you that the profit lies in the freedom and adventure it brings on the open road!
In our recent community poll, we asked caravanners if they used finance to pay for their big caravan purchase.
With 232 votes collected, the poll provided a useful insight into whether caravan owners use finance agreements or other means to buy their tourers.
The caravan finance results
A significant majority, 56% of respondents, indicated that they used their savings or a pension pot to finance their caravan purchase. This suggests that many caravanners prefer to save up for their big buy rather than take on debt. This approach has clear advantages, including avoiding interest payments and financial obligations that come with loans or finance agreements.
Only 13% of respondents reported taking out a loan to buy their caravan. Personal loans can be a viable option, offering a lump sum that can be repaid over a set period. However, the relatively low percentage indicates that this might not be the most attractive option for many caravanners.
Interestingly, almost a quarter (22%) of caravanners opted for a finance agreement. This can make the dream of owning a caravan more immediately attainable by spreading the cost over several years. For some, this might be the most practical option, especially if saving a large sum isn’t feasible in the short term.
Caravan finance agreements often come with competitive rates tailored specifically for caravan purchases and can be set up by a caravan dealer, which could explain their popularity among nearly a quarter of the respondents.
The remaining nine per cent of respondents indicated using other methods to finance their caravan. This category could include options such as inheritance, gifts, or perhaps even selling assets.
Thanks to everyone who voted – the poll results reveal the many different ways caravanners can pay for their pride and joy. While a majority prefer to use savings or pensions, a significant minority are open to using finance agreements or loans.
For those considering buying a new caravan, each finance method has its pros and cons and will depend on your individual circumstances.
Over to you…
What did you make of the results? Let us know in the comments section below.
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