With soaring sales of pleasure boats and caravans, National Loans explains how asset finance works
Whether buyers are first time buyers or have already owned a boat or caravan and are upgrading, National Loans recommends buyers consider their goals. Figuring out what they plan to do with their boat or caravan and where they plan to go will help decide which type and specification best suits their needs.
National Loans explains that finance a boat or caravan is similar in many ways to car financing. Loans can be secured (using the asset as collateral) or unsecured. The interest rate charged on the loan reflects the risk the deal places on the lender. According to National Loans, since rates vary widely from lender to lender, it always pays to shop around to find the best possible deal.
For those wondering what is the best way to finance the purchase of a boat or caravan, National Loans advises that there are three options: go directly to a bank or lender, obtain financing through dealership or use a financing broker. While it is often convenient to go directly to the lender or obtain financing from the dealership, this can limit the options for the buyer.
Financing brokers like National loans work with many lenders including boat and caravan finance specialists. They can compare all available options to ensure the buyer is getting a competitive rate and terms that suit their needs and circumstances.
To secure a caravan or boat loan or discuss other asset finance such as motorcycle financingcontact National Loans.
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SOURCE National Loans