If you are looking at buying a leisure asset, such as a caravan, motorcycle, jet-ski, motorhome, or trailer and want to pay for it monthly rather than all upfront, you may want to consider leisure finance. Here is what you need to know about leisure finance in South Africa and how we can help you.
Leisure finance is financing that you can get for leisure assets and vehicles. This includes motorbikes, caravans, trailers, motorhomes and Tuk-Tuks. These leisure items are seen as a higher risk to the bank, so typically this results in higher interest rates compared to standard vehicle financing (unless you have fantastic credit). Other than that leisure finance is a similar procedure to private vehicle finance. Using leisure finance can help you pay-off that leisure asset you’ve been wanting in an affordable way.
At Motorlease, we provide leisure finance for a variety of vehicles. Here are the vehicles that you can finance through us.
A motorcycle or motorbike is listed as a leisure vehicle, however, like a car, it is often used for essential transport. This means that obtaining financing can make owning it more achievable.
We finance privately purchased motorbikes, so if you have found your dream bike through a private buyer and are looking for help with financing, we can help. Buying a used motorbike from a private buyer is often more affordable than buying from a dealer or opting for a brand new motorcycle.
We can help you finance a motorbike at the best interest rate possible.
A caravan can be a great way to explore the beautiful country of South Africa on holidays or weekends away. When you consider cost per use, a caravan could make exploring the country more affordable than paying for standard accommodation.
Caravans are an adventurous and affordable solution to your future holidays, however, paying for them upfront can be tricky with a privately bought caravan costing anywhere from R50 000 – R650 000.
The best solution would be to finance your private caravan purchase and we can help you finance a caravan at the best possible interest rate!
Whether you are looking to buy a trailer to help you transport luggage on holiday or for your business we can help you finance it. Trailers are incredibly handy for a variety of reasons, and are often needed, but paying up front can be challenging.
That is where financing comes in, and where we can help. We help you finance privately purchased trailers by securing the best possible financing deal, and interest rate!
Motorhomes, similar to caravans, can provide for a much more adventurous holiday or weekend away experience. They might be preferable to a caravan in some ways, as they can be more spacious and easier to drive at times. They also do not require towing experience or special licenses.
They are, however, somewhat costly as they can sell anywhere from R200 000 to R700 000. We can help you with the upfront cost through financing a privately purchased motorhome.
When meeting the seller of the vehicle, have someone accompany you. It is best to meet at a public location, just to be safe. You should also meet with the private seller during the day, to support the safety point above, but also to properly inspect the vehicle.
Leisure vehicle finance, being similar to vehicle finance, has shared requirements. Here is what you need to get private vehicle leisure finance:
The process when applying for private leisure finance is as follows:
Financing a leisure asset might seem a bit complicated, but don’t worry, we are here to help. We can help you at every stage of the process and will help to make it as easy as possible for you.
Once you know the leisure asset that you want to buy, simply apply for leisure financing with Motorlease, and we will be in touch. We will start the process of getting your leisure finance. Will sort the majority of the admin out, and will let you know when we need your help.
Through our application process, we will look for the best deal from a variety of banks, while protecting your credit record.
Let us know if you have any questions before applying for private leisure finance. We look forward to helping you buy a motorbike, caravan, trailer or motorhome!