Leisure Equipment
Leisure Equipment
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Leisure Equipment loans which are secured by the Caravan, Quade Bike or Jet Ski are known as a ‘Secured Loan’. The interest rate will often vary depending on the age of the Leisure Equipment, as new vehicles are regarded as being better security.
Some lenders have restrictions on the age and/or value of the Leisure Equipment that can be financed with a loan and they are often available only for newer used or new vehicles.
Those who don’t qualify for a Leisure Equipment loan may be able to use an unsecured personal loan, though this carries a higher interest rate. Loanstoday can help you organise a secured or unsecured personal loan.
Interest rate
Leisure Equipment Finance is assessed individually and given a credit score that determines the rate.
Repayment
Loan repayments are usually split across the life (term) of the loan. You can choose a loan term between 3 and 7 years.
Securities
Leisure Equipment Finance loans are secured by the vehicle that you are purchasing.
Other Conditions
Borrower has to be an Australian Citizen with a regular income. ASIC (NCCP) requirements will be applied such as serviceability calculations and verification of income and assets.