Frequently Asked Questions
What products does Finance4Motorhomes offer?
Can I still use Finance4Motorhomes if I have already agreed to purchase my motorhome or caravan from my own preferred dealer?
Yes, no problem, providing your supplying motorhome or caravan dealer is an established UK supplier, we can arrange your finance for you and transfer funds directly to them.
How long do I have to wait for a credit approval?
The majority of our lenders are very quick with their decisions and they normally takes around 2-4 hours to pass approval for your finance.
What if I have had problems in the past with my credit, can Finance4Motorhomes still help me?
No unfortunately not, this is mainly due to the market we specialise in and the lenders we work with, they are only able to offer low rate funding facilities for customers with a clean credit rating.
What happens next after my finance has been approved?
After your finance has been approved, we will contact you to confirm everything and then arrange for the finance documents to be sent out to you via email, you will then need to complete and return these together with your proofs, which are normally a driving license and recent proof of address.
Will you contact the dealer to discuss the transfer of funds?
Yes, we arrange all the paperwork directly with your supplying motorhome dealership and then arrange for the balance of funds to be paid directly to your dealer by bank transfer, the only thing you need to do is tell your dealer you have arranged your finance with your own lender and that we will contact them directly to arrange payment.
What proofs will I have to provide at payout stage?
You will need to provide some proofs when you return your signed finance documentation, these are normally a copy of your driving license [photo id] and a recent utility bill dated within the last 60 days, if there are any additional proofs required, we will advise you at the time of acceptance.
How is the documentation sent out to me?
We normally arrange for your finance documents to be sent to you directly by email, these are sent out in a pdf file format with a full explanation of where to sign.
Where do I send the signed documentation and proofs?
There will be an email giving full instructions of how to complete and return your finance documents and where to return them to.
How long does the payout process take to complete after I have returned my completed documents and proofs back to you?
Providing all paperwork is returned back to us correctly and we have received your dealer invoice and bank details for the electronic funds transfer, then we are normally able to complete the whole process as quick as 24 hours.
What about deposits, who do I pay this to?
Finance4Motorhomes hold no money or deposits on behalf of their customers at all, any deposit is paid directly by yourself to your supplying dealer and the balance [amount financed] is paid directly by our lender to your supplying dealer.
How long is my finance acceptance valid for?
We can save your finance quote for you for a period of 7 days, then when you are ready to proceed we can turn your quote in to a formal offer by taking your proposal details and submitting to our lender for approval, once we have approval from the lender we can normally hold your acceptance in place for a period of 30 days (depending on the lender) which effectively also locks the rate in place for you too.
Can I settle my Motorhome or Caravan finance early or am I locked in to a deal for the term of the agreement?
All our Regulated Hire Purchase finance products have no full term lock-in to the lender at all, customers can settle early if they wish, by simply obtaining a settlement from the lender whenever they like and the maximum penalty is 1 months interest.
Is there a maximum vehicle age limit?
We are able to offer funding facilities for all motorhomes and caravans up to 10 years old, sometimes older depending upon the supply route and vehicle. Generally, as long as the finance balance is £15k or more, we can normally assist.
What about warranty, will my warranty be affected if I use finance arranged by Finance4Motorhomes?
Absolutely not, warranty is provided by the manufacturer not the dealer and therefore it is exactly the same regardless of which finance route you take.
When do I have to make my first payment for the finance agreement?
Normally the first payment to the finance company is paid approx 30 days from the date of signing of the finance documents.
Is there any VAT on my finance payments?
There is no VAT on any of our finance agreements from the lenders we deal with, if you have been offered a deal +VAT, then this normally means it is tailored as a business product and therefore you will certainly be locked in for the duration of the finance agreement, so be careful.
Can I pay additional lump sum payments, after my motorhome or caravan finance has been arranged?
All our consumer finance agreements are regulated by the CCA which now allow for lump sum payments off your loan, which will either reduce the balance outstanding or reduce your monthly payment, whichever is preferred. There is no limit as to the number of times you can do this, however this facility is NOT available for business customers.
What about mileage, Is there a limit to how many miles I can do?
There is no mileage clause with a regular Hire Purchase agreement, the mileage restriction is only accociated with PCP or Lease Purchase finance products.
If I am happy to proceed with Finance4Motorhomes, what is the next step?
If you are happy with the finanace quote we have provided, the next step is to take a finance application from you, this is normally done over the telephone and takes just a few minutes, once your finance application has been accepted, we will then email your finance documents for signing.
When do you contact my supplying dealer?
When your finance has been accepted, we will contact your supplying dealer to arrange the payment of the balance with them directly, we normally request that customers make contact with them first to explain that you are arranging finance with ourselves.
If I have any further questions, how do I contact you?
Finance4Motorhomes operates without any call centres, not only can you call us directly on 01925 738550 but we have various other methods of communication to make it easier to get in touch with us, you will always speak to and deal with an experienced finance adviser who will have all the answers you need, we have a very high standard of customer service, so you are in safe hands.
Call us now on 01925 738550 for your quote with our latest rate and offers and see how much we can save you!
Call us on 01925 738550 for our latest rates & offers and see how much more we can save you!