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Debt consolidation, home improvement

A Secured Homeowner Loan Can Help You Finance a New Truck, Van, Motorcycle, RV or SUV

Are you looking for a new truck, van, RV, SUV or motorcycle?

Recent figures showed that new commercial vehicles sales are booming, with van sales showing a growth of 15.1 per cent in August 2010, compared to August 2009. Truck sales were also up in August 2010 by 5.7 per cent.

Whether you are looking for a new van or truck for your business, an RV or SUV for holidaying or accommodating a growing family, or simply a new motorcycle, getting the finance can be tough. Thanks to the global financial crisis, banks are increasingly choosy about who they lend to. Sue Robinson, the Retail Motor Industry (RMI) franchise director says, “uncertainty in the economy and difficulty in arranging bank loans to invest in new units” is preventing many people from buying the new RV, SUV, van or truck they need.

One of the best ways you can finance your new vehicle purchase is through a secured homeowner loan. Our guide explains why.

Secured Homeowner Loan

A secured homeowner loan allows you to borrow a sum of money secured against the equity in your home. Similar to a mortgage, a homeowner loan is secured on your property and allows you to finance the purchase of a new SUV, truck or van.

You have to keep up repayments on your secured homeowner loan otherwise your property is at risk.

Borrowing to Finance a Van or Truck

Many businesses need a commercial vehicle to function. Whether you need a van in which to keep your tools or materials, a larger vehicle for deliveries or a truck to transport goods, commercial vehicles are the lifeblood of many businesses.

Getting the finance to buy a new van or truck isn’t plain sailing, however. If you are self-employed you may have found that your bank won’t lend you the money you need without producing lots of accounts or accountant’s references.

That’s why many people turn to a secured homeowner loan as you can borrow the amount you need secured against your home. You will make one affordable monthly payment at a competitive interest rate.

Borrowing to Finance a RV or SUV

Sports Utility Vehicles (SUVs) are becoming increasingly popular with car buyers across the UK. They are often more spacious, safer and have a more comfortable driving position than standard saloons or hatchbacks. They often offer flexible seating and storage and are perfect for carrying kids, shopping, bikes and dogs.

Recreational Vehicles (RVs) are also increasingly popular. Motorhomes are a great way of embarking on a road trip or holiday and they provide sleeping facilities as well as many other amenities you would find in a traditional home.

Whilst car finance may be expensive, a secured homeowner loan may offer you a better alternative. You can borrow against the equity in your home and make a single monthly payment at an affordable interest rate.

Borrowing to Finance a Motorcycle

Whether you want to buy the top selling Yamaha YBR-125 or the more powerful BMW R1200GS, financing your new motorcycle can be tough to get. You may have credit problems, be self-employed or work on a contract basis.

That’s where a secured homeowner loan can help you. You can borrow against the equity in your home to buy the motorbike of your dreams.

So, whatever sort of vehicle you need, consider a secured homeowner loan. Whether you want to explore Europe in a RV, accommodate your growing family in an SUV or invest in a new van for your business, a secured loan is a great way to raise the cash.

To use your home to raise money at a competitive APR, please fill this homeowner loan form.

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