A new wave of stay-at-home holidaymakers could be hitting UK campsites as companies offer tempting PCP finance deals on new caravans and campers.
Vehicle data expert Glass’s says PCP – which is an increasingly popular way of financing new cars – could revolutionise the leisure vehicle market.
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The firm’s director of valuations, Rupert Pontin, said: “Touring caravans and motorhomes are not cheap vehicles and you can easily spend £40,000 on the latter. However, the use of finance products in the market has tended to be quite limited, meaning that the typical buyer is an older person with savings.
“That has changed in recent months, with the arrival of a handful of finance companies entering the market. Now, the situation could change quite quickly. The touring caravan and motorhome market has been quite buoyant in recent years but we believe that this development could provide a further boost.”
As an example of a caravan PCP deal through Black Horse Finance, you could buy a high-spec two-berth Coachman Pastiche 260 caravan, with a cash price of £20,440, for slightly less than £300 a month. That’s over three years, following a deposit of £3,100.
Interest works out at 7.9% APR, meaning the total amount payable works out as £23,595.85.
“The key advantages of PCPs are that they make vehicles much more affordable and accessible,” Pontin added. “Crucially, they will allow younger buyers with families who would like a caravan or motorhome for stay-at-home holidays to seriously consider taking out a PCP, typically over 5-7 years.”
