Paragon car finance has extended its product range to include a hire purchase package designed specifically for motor homes.

The motor home HP package offers between £10,000 and £100,000, and is available for new and used motor homes up to five years old at the start of the agreement. Terms can be up to seven years.

Quoting Department for Transport vehicle statistics from May 2016, there were 225,000 motor homes on UK roads, an increase of 30% compared to 2010.

A typical motor home in the UK costs between £30,000 and £100,000, the lender added.

Julian Rance, head of Paragon Car Finance said: "Motor homes are a high value purchase and having access to competitive finance can be an important factor for buyers looking to manage their budget and control their costs. Our motor home finance products bring new competition to the market, helping dealers offer customers a broader choice of funding."

Paragon will distribute the finance via its approved vehicle finance brokers and car dealers.

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