Does Scamp offer financing for their trailers?

In this blog post, we will answer the following question: Does Scamp offer financing for their trailers? We will discuss what are the options for financing a trailer and how to find the best rate. 

Does Scamp offer financing for their trailers?

While Scamp does not offer financing for their trailer, there are plenty of other options for trailer financing.  characteristics and assess which one best suits our needs:

  • Conventional consumer loans: personal loans allow us to get large amounts of money and repay them in several years. In addition, many entities have loans to finance cars with advantageous conditions.
  • P2P (loans between individuals): these online platforms put investors who want to achieve profitability in contact with users who are looking for financing. In this way, we have options to get the necessary capital. The platform will assign us a risk level that will act as an indicator to establish the interest we will pay.
  • Financing through the dealer: generally, these establishments offer promotions, but we must inform ourselves well of all their conditions since, despite the possible discounts they include, the interests of their financing (in the case of the trailer) are usually expensive and may end up involving a higher cost than other routes.

To be totally sure of making the best decision, we must search and compare all the options on the market. Once we have all the information, we can make the right decision!

Bank financing for Scamp trailers

Once you have chosen your future Scamp trailer, the next thing to do should be not to hate the financing you have gotten to pay for it. Therefore, one of the best options is to approach your trusted bank branch to request a personal loan or even a “vehicle loan”, a type of loan specially designed for these cases. 

With this option, you will get a much friendlier interest rate and you will be able to structure the financing in a more personalized way. The only drawback, and it is not so much, is that you will have to collect your payroll and, perhaps, your income statement. In any case, if it is your lifelong branch, you probably even have pre-granted loans.

Using a credit card to buy a Scamp trailer

If the Scamp trailer you have in mind is a second-hand vehicle, priced below 3,000 dollars, you have the option of buying your “new trailer” using your credit card. Although it may seem strange to you, this is a viable possibility although you have to be careful not to get unpleasant surprises. 

The main drawback is that the interest rate you will pay will be much higher than that of other options that we present to you. The advantages are everything else. You decide how much you return per month (with a minimum of about 30 dollars), in how many instalments you do it and even, depending on your bank, you can get a discount (2% or 3% of your purchase), get points or participate in trips. This is a good option for small amounts and short terms.

The multi-option for buying a Scamp trailer

Multi-option is a lot like rent-to-own. With this system, the customer pays an entry and a series of monthly instalments. When the multi-option expires, the customer decides whether to keep the vehicle, return it or exchange it for another of the same brand. 

Often this option includes car insurance or maintenance. 

In this case, the fees to be paid depend on the trailer you choose and the mileage you plan to do since maintenance costs are directly related to it. The advantage is that, with this option, you forget everything. You just have to put gas in and forget about it. The downside is that it is not very flexible financing.

Leasing or renting of a Scamp trailer

Two very attractive options if you are a freelancer or an entrepreneur. With leasing you have another type of rental with the option to buy at the end and, in addition, it allows you to finance 100% of the operation. You can also deduct VAT and you will not need to make an initial payment to have your vehicle. 

As for Renting, it is about renting but, on this occasion, there is no option to purchase. With this alternative, you can deduct VAT and make the corresponding reductions in personal income tax. In addition, you forget about everything that is not putting gasoline: insurance, maintenance, taxes, etc.

What is the average price of a Scamp trailer?

In the table below you can see the average price of a Scamp trailer: 

Scamp Trailer ModelPrice (without add-ons)
Scamp 13′ Bath Package$7,900 to $13,895
Scamp 13′ Deluxe Bath Package$12,600 to $20,800
Scamp 13′ Deluxe Front Dinette$8,500 to $15,600
Scamp 13′ Package$7,500 to $11,900
Scamp 16′ Deluxe$12,600 to $31,200
Scamp 16′ Standard$10,100 to $17,000
Scamp 16′ Standard Front Dinette$10,400 to $17,500

How to find a Scamp trailer loan at the best rate

Many banking establishments offer loans dedicated to the purchase of a trailer or motorhome. These offers generally include appropriate insurance in the event of accident, damage or theft. How to find a Scamp trailer loan at the best rate? We answer in this section.

The characteristics of the trailer financing

Before you find financing, you will need to choose the model of the trailer that is right for you. The catalogue of Scamp trailers comes in different forms. This choice will depend mainly on the composition of your family, the use you want to make of this vehicle, the level of comfort you reduce and your budget.

After finding the Scamp trailer that suits you and depending on its price, you may have credit for the funder. The allocated credit makes it possible to finance the purchase of a new or used trailer. The amount of this consumer credit varies between 5,000 and 75,000 dollars, repayable over a period of 12 to 72 months.

What are the advantages of trailer financing?

Making a loan to buy a trailer allows you to take advantage of several advantages:

  • Facing an assessed investment: the price of a new trailer (excluding canvas model) is between 15,000 and 35,000 dollars depending on the models, dimensions and options offered.
  • Insurance in case of accident or damage to the vehicle and/or its accessories is included in most offers.
  • Optional insurance against theft.

Thus, taking out a trailer loan can be interesting if you do not have the necessary budget.

Find the best rate for your Scamp trailer loan

Once the trailer model and type of financing have been found, you have to look for the credit offer offering the best rate. In the market, interest rates vary greatly from one organization to another. To help you identify the financing solution that will suit you best, do not hesitate to use an online comparator

All you need to do is complete a consumer credit form in less than 2 minutes. Certain information will be requested from you such as the type of loan desired, its amount and the repayment period. You will then receive details of all loan offers for your project.

To effectively compare trailer credit offers, refer to the annual percentage rate of charge. This indicator includes the nominal rate, administration fees, brokerage fees, insurance costs and mandatory guarantees. It makes it possible to assess the overall cost of each loan.

The best credit rates for buying a trailer start from 0.50% but can go up to 3.8% depending on the capital borrowed, the repayment period and your profile. To check the feasibility of your project and know the conditions for granting your future loan, you can anticipate an online simulator.

Final advice

Do not forget that a loan commits you over several years and can have a significant impact on your monthly budget. It is therefore essential to prepare this project in advance and to choose the right financing option.

The only appropriate time to consider taking on additional debt is when you spend less than you earn. The extra burden of debt you decide to take on shouldn’t affect how much you set out to save for emergencies or other overriding life goals or priorities. 

If you have more questions or comments about the content, please let us know.

FAQ on Does Scamp offer financing?

What is the term of most RV loans?

RV loans can last from two to seven years, but the average is 60 months (five years).

Is it important to get pre-approved for financing before I start buying?

Pre-approval gives you the confidence to negotiate with a seller or private broker knowing you have a pre-approved limit.

How can interest rates vary from lender to lender?

Interest rates can vary widely. A rate of 5.99% for a specialized secured trailer loan for new utilities and those less than six years old could be increased to 12.95% by an unsecured bank loan for the same vehicle, or to 17.95% by a non-bank lender for a personal loan.

How many years can you finance a motorhome?

Usually, you can finance a motorhome for 10 to 20 years, depending on the type of credit you choose and whether you are using a bank or a finance company. When buying your motorhome, you will need to find a financing solution. Even if you have enough money in your bank account, it is often better to take out a loan or credit.

References