Clearing Your Static Caravan Debt

One of the biggest headaches when selling a static caravan privately comes if you’ve taken out finance. Where your finance agreement has an outstanding balance, you will still need to settle this if you sell.

When you sell your static caravan through I Buy Caravans, we can take care of any outstanding finance for you. Once we’ve made an accurate valuation of your caravan’s worth, we’ll do one of three things:

If the outstanding balance on your finance agreement is less that the value of your caravan, we’ll use part of our payment to you to settle your finance agreement, then deposit the remaining funds directly into your bank account.
If your balance is the same as the caravan’s value, we’ll settle the finance for you and collect your static caravan, releasing you from both the debt payments and costs associated with maintaining your static.
If the value of your caravan is less than the outstanding balance of your loan, we’ll pay the lump sum payment directly to your finance provider, but the remaining balance will still be yours to settle.

If you’ve kept your static caravan in good condition and made regular payments on your finance, the chances are that you’ll still receive a lump sum payment when you sell.

Where the finance agreement is comparatively new, you might incur an early payment penalty, as the finance provider won’t make any money from interest. This can affect the amount of money you receive when you sell your caravan, even if it’s still in perfect condition.

If you’ve made a lot of alterations to your caravan, this can have a knock-on effect to its value. A static caravan has its highest value in its original condition, even if you see your alterations as improvements. A low valuation will affect how much of your finance can be settled with a sale, so it’s important to get an accurate assessment of where you stand.

Wherever you are with your loan, getting an up to date estimate of your caravan’s true value can help you get a better picture of your finances. Then, when you sell, you’ll know that you’re getting the best possible price for your static without having to worry about the state of your finance agreement.

What could be better than that? Get a free, no-obligation valuation now.