COMING SOON! FOR CAMPGROUND
Rent to Own & Financing
As a manufacturer, it’s great to offer financing packages and there are several companies catering to park owners. However, the interest rates are always significantly higher than traditional financing at your local bank or credit union. We have at times offered finance options with rates up to 12%! Obviously, a bit much. Plus, there’s the hidden fees we paid as a manufacturer which took away the value we could have put into your cabin and better yet, your pocket.
So…North Park is soon to offer a “rent to own” program for those who want in now and we are willing to pay a bit more in the long run. This is an investor financed program and many, many details are in the works. If this type of program is of interest to you, give us a call and we’ll try to speed up the process!
Conventional financing is typically readily available on park models as a title is issued and a lien can be attached. Banks love that. Credit Unions are often much less structured and the original three c’s of finance still apply…collateral...character and credit. For collateral, you’ll have the park model...character, you likely have if you are in this industry and credit...well, you’re on your own there.
Return On Investment
Rental cabins are an investment in your park and like all investments, payback is typically down the road a bit. There are several steps you can take to shorten that road.
***Buy VALUE not price. Through standardization and volume North Park offers their rental cabins at very competitive prices. But not at the sacrifice of quality components and construction. A savings now can quickly sour with future maintenance and untimely repairs. Buy smart!
***Smart financials. If you’ve built up funds to purchase outright, that’s the thing to do. Your return on investment begins immediately. If you’re financing, use old fashioned values like a significant down payment and terms that match your sales. North Park will soon offer a “rent to own” package for those that want it now.
***Promote, promote, promote! You’ve made a smart investment...Campground rental cabins have been hot items and continue to improve. But this investment requires some maintenance. Invest time in marketing and promotions.
***The intangibles. We will soon attach a couple of sample return on investment worksheets. But numbers don’t always paint the whole picture. New cabins by their existence will increase the value of your park. The additional guest may spend money at other profit centers at your park. Cabins are an easy test experience for those considering a camping experience. Every campground is unique and no one idea covers all.