Secured Caravan Loan
With a secured Caravan loan, the caravan is used as security. An amount is lent that is either equal to, less than or greater than the value of the caravan.
How does a Secured Caravan Loan work?
Under a Caravan Loan the financier advances funds to the customer to purchase a caravan.
The customer takes ownership of the vehicle at the time of purchase, and the financier takes an interest in the caravan as security for the loan.
Once the contract is completed, the financier lifts their interest in the caravan, giving the customer clear title.
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