Buying a caravan is an absolute dream for many people. More and more other travel enthusiasts have now recognized the advantages of the mobile "home" for themselves. A caravan should offer a lot of space and comfort. The price range for caravans goes from cheap to extremely expensive. Therefore, before buying your motorhome, you should think about its purpose and requirements. What should you look out for when buying a motorhome and how do you get the financing? In the following article we will give you tips on what you should pay attention to.
Make your dream of freedom come true with a caravan
Camping has been enjoying increasing popularity for years, not least because of the seemingly limitless freedom. Rather, in times of climate change and the steadily rising prices for package tours abroad, people are paying more attention to regaining their self-determination. And what better way to do that, by buying a motorhome to travel around the world with, if you want to. If you are also considering buying a caravan, there are a few important points you should consider before buying.
A new or a used caravan?
If you want to buy a caravan, the first step is to ask whether it is used or new. Because the acquisition costs for a caravan are not to be despised. There are a large number of dealers on the Internet who specialize in the sale of mobile homes of all types and conditions. If you want to buy a caravan, for example through a private seller on site, you must not miss the appropriate checklist:
- What is the visual condition of the caravan?
- How many kilometers has the vehicle already run?
- Is there any visible damage?
- Is it possibly a vehicle involved in an accident?
- How is the interior equipped?
- Has the motorhome been serviced regularly? (Checkbook?)
- Have the fixtures already been approved by the TÜV?
If you are not a specialist yourself and have little experience, it is definitely advisable to consult a professional and even present the vehicle to the TÜV if necessary. If you consider the initial cost, you should make sure that the vehicle is really worth what you are supposed to pay for it.
Buying a motorhome is no small financial affair and very few people have the money for it under their pillow. In many cases, appropriate financing must be set up, usually in the form of a loan. Also consider the fact that a cash payment when buying a caravan almost always pays off with a hefty discount.
Dealer or house bank for motorhome financing?
More than half of all caravans sold today are either partially or fully financed. You have various options for financing, for example you can request financing from the motorhome dealer. They are increasingly working with different banks and can make you an offer for this. However, in such a case, a larger final installment is often paid at the end of the financing period. You would therefore do well to work out beforehand whether you will actually be able to raise this larger sum in the end.
Another variant if you want to finance a motorhome is to request a loan from your house bank. You will in all likelihood receive a classic installment loan for the purchase of the caravan. For you, this means that you pay an installment of the same amount to your bank every month, including the interest incurred, until you have repaid the loan amount you initially took out. This type of financing is certainly the most popular variant, but in the age of the Internet, many direct banks have sprung up in the process.
The online loan from a direct bank
House banks are usually the first step when taking out a loan to buy a motorhome. However, times have changed a lot and house banks have long been unable to keep up with the conditions of a direct bank from the Internet . With a look at the internet you will quickly see that the offers are rolling over there. This automatically leads to excessive demands for most people, which is of course very easy to understand. It is therefore advisable to have a comparison made. There are also some portals on the Internet for this purpose that can provide you with a free loan comparison.
Comparing is essential when buying a motorhome
The already mentioned comprehensive range of loans from the Internet allows in principle only one sensible step, namely the comparison. As a layperson, it is almost impossible to get an overview of the large number of all lenders and their offers. If you don't make a comparison, there is a very good chance that you will take out a loan that is not ideal for you. In order to really benefit from the best loan offer when buying a motorhome, be sure to look for a comparison portal.
What requirements you need to have for a car loan
Of course it is the case that every lender, regardless of whether it is on site or from the Internet, has nothing to give away. Therefore, when taking out a car loan , interest payments also become vulnerable. In summary, the facts about the loan are called “conditions”. In most cases, these conditions are based on your own creditworthiness. The credit rating, in turn, provides information about your financial possibilities and whether you have already received negative financial attention. Missed payments, reminders, personal bankruptcies , etc. are kept in the so-called Schufa file. All natural persons who have built up all types of debt are listed here. The more negative entries you may have in the Schufa , the more likely it is that you will not get a loan. The following conditions are linked to the granting of loans:
- Minimum age 18 years (majority)
- Full legal capacity
- Permanent residence in Germany
- Fixed and permanent employment
- Monthly net salary above the garnishment exemption limit
My name is Martina Lange and I prefer to write journalistic texts on the topics of finance and medicine. I also love to write professional articles of all kinds. I can find my way into almost any topic and am always happy when I have even more knowledge after finishing a text. As a freelance writer, I am passionate about writing for creditSUN.