A bad credit caravan loan is a loan to purchase a caravan for someone who may have a poor or no credit history. Just because you’ve had some issues in the past though, doesn’t mean that they should continue to plague your future.
We know that buying a caravan when you have a poor credit score can be challenging. This is why we’re here to provide you with bad credit caravan loan options even when other financial providers have turned you down.
At Ume Loans, our goal is to help everyone achieve their dreams. Sometimes this can seem impossible when it seems like no matter what you do, you’re automatically denied.
We don’t believe in that.
We’ll address your financial situation and tailor a bad credit caravan loan that suits your circumstances, helping you get out on the open road sooner.
When you have poor credit, getting approved for a caravan loan takes a bit more effort. Lenders like Ume Loans need to feel comfortable knowing you will pay back the loan, which is why more steps are required.
Our bad credit lenders may need more information on your credit history, any recent defaults, or if you have any collections on your report. It would be best if you had your information ready to share. While it may be daunting, we need the information to help you get approved for a bad credit caravan loan.
This is your opportunity to show us how you can improve your credit and repay loans. These are some differences that we will explain to you regarding your second chance caravan loan.
It is a lifelong journey to build up your credit. Financing your next caravan with Ume Loans can help you bring home your dream caravan. You can build up your credit score at the same time. Some other benefits of a poor credit caravan loan include the following:
Our bad credit caravan loans allow you to make extra repayments anytime. At Ume Loans, we can raise your payments according to your particular budget restrictions. We will keep the repayments within your preferred price range.
Our business is Australian-owned, providing access to finance for all Australians. Anyone over 18 can apply for a bad credit caravan loan. Our Australian-owned team will work diligently on approving your application.
We at Ume Loans, have excellent personalised support. We are compassionate toward everyone interested in their bad credit caravan finance.
Our personalised support extends beyond caravan finance. We can finance other assets within certain parameters- even if you have a substandard credit score. We are here to assist you meet your financial goals.
It is common for lenders to want to extend the term of your loan. When the loan term is extended, the payments are usually lower, and the interest rate is higher. Lenders typically extend loan terms because it helps reduce your monthly payments.
Read MoreYour poor credit history may allow you to receive less of a total loan amount than you want. A lower loan limit ensures you get approved for your caravan loan, so it is essential to understand why.
Read MoreA bad credit caravan loan usually results in more paperwork that must be completed. The lenders will want to verify how your financial situation has changed.
They may require rent receipts, utility bills, or pay slips to prove your ability to make your loan repayments.
Read MoreLenders will likely advise you to put down a higher deposit on the caravan if your credit score is low. A higher deposit offsets the lending risk- meaning it can increase your chances of an approval.
A higher deposit is standard and offsets the premium’s cost. If you feel unprepared to put down a higher deposit, consider taking more time to save up for the deposit.
Read MoreYou may be subject to higher interest rates with a bad credit history caravan loan. This is because your application is considered high risk, which is common.
At Ume Loans, we work hard to help you get your interest rate as low as possible. It is essential to understand that a higher interest rate doesn’t necessarily mean an unaffordable repayment.
Read MoreIt is common for lenders to want to extend the term of your loan. When the loan term is extended, the payments are usually lower, and the interest rate is higher. Lenders typically extend loan terms because it helps reduce your monthly payments.
Read more of this...
Your poor credit history may allow you to receive less of a total loan amount than you want. A lower loan limit ensures you get approved for your caravan loan, so it is essential to understand why.
Read more of this...
A bad credit caravan loan usually results in more paperwork that must be completed. The lenders will want to verify how your financial situation has changed.
They may require rent receipts, utility bills, or pay slips to prove your ability to make your loan repayments.
Read more of this...
Lenders will likely advise you to put down a higher deposit on the caravan if your credit score is low. A higher deposit offsets the lending risk- meaning it can increase your chances of an approval.
A higher deposit is standard and offsets the premium’s cost. If you feel unprepared to put down a higher deposit, consider taking more time to save up for the deposit.
Read more of this...
You may be subject to higher interest rates with a bad credit history caravan loan. This is because your application is considered high risk, which is common.
At Ume Loans, we work hard to help you get your interest rate as low as possible. It is essential to understand that a higher interest rate doesn’t necessarily mean an unaffordable repayment.
Read more of this...
Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.
One of our Lending Specialists will call you to speak with you about your options
We'll get to work on getting your loan pre-approved as soon as you supply the required supporting documents
Once everything is verified, you can sign your contracts electronically
Time to go shopping for your new caravan or pick up the caravan you've already chosen
Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.
One of our Lending Specialists will call you to speak with you about your options
We'll get to work on getting your loan pre-approved as soon as you supply the required supporting documents
Once everything is verified, you can sign your contracts electronically
Time to go shopping for your new caravan or pick up the caravan you've already chosen
Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.
One of our Lending Specialists will call you to speak with you about your options
We'll get to work on getting your loan pre-approved as soon as you supply the required supporting documents
Once everything is verified, you can sign your contracts electronically
Time to go shopping for your new caravan or pick up the caravan you've already chosen
15+ Years
Experience in Alternate Lending
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We provide good people with a second chance
Our Team
Our team is passionate about helping people
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Our team just love helping our customers buy the caravans they love and want, whether it’s brand new or a used caravan, we are very happy to share our Ume Loans reviews
Yes. If the caravan is yours, or going to be yours, we will be happy to finance it. Many other lenders have a whole bunch of rules around the age, size, and type of caravan you can buy, but you won’t find that at Ume Loans.
Just remember, we only transact caravan loans between $5000 and $25000.
Yes. You can finance a brand new caravan or a secondhand one with Ume Loans, again, just remember we only transact caravan loans, between $5000 and $25000.
Yes. We are happy to finance caravans bought both privately or through a dealer. Your Lending Specialist will make the process easy for you, by contacting the seller and arranging any information we need from them directly.
We will even give you a copy of the PPSR search we conduct to verify there are no prior outstanding loans on the exact caravan you are buying.
No. We personalise your caravan loan repayment to suit your budget, without the need for a large lump sum payment at the end.
