Investing in a new camper can be a costly business, but thankfully when it comes to paying for your new home on wheels, there’s more than one way to finance your dreams.
Check out your options below and the pros associated with each.
Paying cash for your camper can be the obvious choice for anyone with a nice little nest egg.
- No monthly payments
- No credit checks
Redrawing on your mortgage
Short on cash? Then redrawing on your mortgage is a relatively simple option that you can ask your bank about.
- Easy to secure
- No additional outgoings each month
Financing your new camper is another option for those who would rather not touch their savings.
- Separate loan payments make for easier budgeting
- More freedom to renegotiate/refinance at the end of term
- More money = more buying power
- Keep cash for a rainy day
- Flexible loan terms
In our mind, there’s only one clear winner, and interestingly it’s not paying by cash. Financing, as opposed to cash buying, allows you to keep a hold of your savings.
And as for that mortgage option, well that just means you pay your home loan for longer.
When it comes to paying for your camper, financing offers you both freedom and savings. And who can argue with that?