Black Horse has launched a PCP product for customers looking to buy a caravan or motorhome.

According to the lender, this is the first time this financial product has been offered for caravans and motorhomes, despite its growing popularity in the private car market.

The lender said it was making the move in response to changing customer behaviours and dealer demands. It said the increased penetration of PCP in the car market reflected the growing popularity of usership compared to ownership, and that it wanted to bring the same options over to those looking to purchase a caravan or motorhome.

Nagla Thabet, head of joint ventures, leisure and bikes, at Black Horse said: “Customers and dealers have been telling us for some time that they want a PCP option when buying caravans and motorhomes. We also often hear from potential customers, particularly young families, who want one of these vehicles but are reluctant to make such a large financial and long-term commitment.”

“We believe that PCP for leisure will directly address this and provide the flexibility that customers need to make it easier for them to buy the vehicle of their choice.”

Richard Jones, managing director of Black Horse added: “We are always striving to innovate and improve to support our dealer partners and keep up with changing customer expectations and behaviours – being the first to launch PCP in the leisure market is another example of this. We already help almost 16,000 customers buy a caravan or motorhome every year, and we’re confident that our PCP offering means we’ll help even more.”

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By GlobalData