That's it you take the step to acquire your motorhome! After several questions, which brand, for how many people, the power… your choice is made.
You have determined the monthly budget you want to allocate to your purchase, so now you need to know through which means and in what form of financing you will proceed.
Will the funding brings you more, and why? Are there any insurance policies protecting you or your motorhome?
1- The affected credit
Some concessions are directly linked to financial institutions and can offer you financing linked to a specific purchase.
The affected credit is a fairly classic and simple credit, the operation of which is comparable to that of a mortgage because the credit request is assigned to a specific good (in our case, a leisure vehicle).
You have the possibility of financing your property over a period varying between 12 and 180 months, without compulsory contribution.
2- Personal credit
Personal credit is also called a personal loan. It is in the form of an assigned credit but without proof of purchase.
It can be offered to you by your bank or the credit institution of your choice. In principle, its rates are fixed, and its maximum duration shorter. It allows a purchase project to materialize but without the need to justify it.
3- LOA / LER rental
The LOA (rental with option to purchase), also called “leasing,” is a contract by which a customer leases a vehicle owned by a company by benefiting from an option to purchase at the end of the rental period or during the latter. This formula applies to new vehicles and often lasts between 2 and 7 years.
We are talking about rental, so you pay rents and no longer installments such as credit, over a defined period with a purchase option (VR) at the end of the contract (often 1% of the purchase value of the property), which allows you to become the owner of the property after payment of the latter.
Leasing with Option to buy is a financing method that allows you to use a property as a tenant for a certain period of time and to decide whether or not to become the owner at the end of the rental period.
The LER (Rental with Commitment to Take Back) is also a rental, but on these contracts, it is the sellers who decide on the surrender value, since it is he himself who will take back the vehicle at the end of the contract (be careful, the contract is an annual number of kilometers act and requires perfect maintenance of the vehicle).
This formula allows you to drive permanently in new vehicles since the duration of these records is much shorter and allows you to change more regularly.
4 - The loan between individuals
Less expensive than another type of credit, the loan between individuals does not require the intervention of a bank. It consists, as its name suggests, of a loan between individuals. It can be used to finance a project (such as a consumer credit, allocated or not) or to repay debts, and, in this case, it is a repurchase of credit between individuals.
“Collaborative” credit, as it is often called, is becoming a real competitor to the usual loans provided by organizations known to consumers, such as BlaBlaCar for vehicles or Airbnb for housing. Most often, this happens in a friendly or family setting. Rare are those who then formalize this operation in writing ...
For most of these formulas, you can protect yourself through services linked to the contract: death, health, and unemployment insurance, but also warranty extensions, revisions (full maintenance and warranty formula) from financial losses, etc.
Our top tips :
Whatever your decision, we give you these valuable tips to best guarantee your credit: