Paragon Car Finance has started to offer caravan finance, after launching a hire purchase product for motor homes in June last year.

The West Midlands-based motor finance provider said it aims to bring greater choice to the caravan market, and will provide finance for terms up to 10 years.

Paragon Car Finance said it intends to replicate the formula for its motor home finance product, which was extended to cover terms of up to 10 years in August.

Julian Rance, head of Paragon Car Finance, said extending into caravan finance was a “natural next step” for the motor finance lender, and claimed there had been demand for it.

Rance said: “We are confident that our bespoke underwriting, competitive rates and the direct access we offer to our underwriting team, will ensure we replicate the success we’ve had in the motorhome market with this new product.

“We also feel now is the right time to bring more choice to the caravan finance market, allowing customers a greater range of options.”