170 caravanworld.com.au
AVOID AT ALL COSTS
Steer clear of redrawing on your home loan
or having to sell.
Calculations show that redrawing $50,000
to purchase your RV from the average
Australian mortgage in 2018 at the average
standard variable home loan rate for 2018
can add up to an additional $88,126* just in
interest over the life of your mortgage. That’s
more than the cost of your RV!
While your home loan interest rate may
look very low, the effect of compound
interest over a long period has the potential
to make it a much more expensive option.CONSULT AND COMPARE
Before deciding whether to purchase
outright or finance your next RV, consult
the specialists at Credit One to compare
your options. A personal finance consultant
can help you weigh up your options and
determine which one best suits your
individual needs.
Credit One can also arrange an obligation-
free finance pre-approval. This means
that you can see an estimate of how much
your repayments will be before making
your decision. The other benefit of a pre-
approval is that it’s like ‘having the money
in your back pocket’, which improves your
negotiating power with prospective sellers.
In addition to bank-beating finance, a
Credit One finance consultant can also
arrange competitive insurance quotes for
you with the leading RV insurance providers
as well as investigate extended warranties
for peace of mind.“One of the biggest
conundrums
experienced by most
people is financing
their prospective
‘pride and joy’”
CLOCKWISE FROM TOP Financing an RV could
get you out on the road faster; older models are
cheaper but come with higher clicks on the clock
as well as wear and tear; it's inadvisable to draw
on your home loan to finance an RV