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Buying your own caravan, either for travelling around with you family or even during retirement, can be a cost-effective way to see the country. While caravans can be expensive, there is financing available to you. Find out what you need to know about caravan loans in this guide.
A caravan loan can be either an unsecured personal loan or secured personal loan that allows you to use your caravan as security. If you opt for a secured loan you can take advantage of a lower interest rate, but unsecured loans offer more flexibility. Not all lenders providing vehicle loans will allow this for the purchase of a caravan though, so it pays to compare.
Some loans have a fixed interest rate so your monthly repayments will be the same every month. Other loans have a variable interest rate, which may fluctuate, but the rate tends to be lower.
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Apply completely online and access a range of lenders in a single application.
The road you’ve chosen to travel notwithstanding, there’s a caravan out there that can make travelling on it a pleasure. Find out more about what types are available below.
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If a caravan loan sounds like it’s right for you, applying for one is very easy. All you need to do is use the comparison table on this page and compare the caravan loans available. Look at all your different options and when you find one that’s right for you, simply click the 'Go to site' button and go through to the lender’s website. Once you’re on the website it’s as easy as completing your application form online and then waiting to hear if you get approval for your caravan loan.
Typically, to be eligible for caravan finance you must be at least 18 years of age. You must also have a good credit rating and be able to demonstrate this to the provider with evidence such as bank statements, payslips and copies of other credit contracts. Other loans may also require you to be an Australian resident/citizen or already be a member of the financial institution.
Your application will run much smoother if you have all your documents ready and available when you apply for your caravan finance. You will need:
Use the calculator below to work out how much you could borrow and what your repayments might be.
Do I need to pay stamp duty for my caravan?
Generally caravans are exempt from stamp duty, but you’ll need to confirm this with your Office of State Revenue as it is dependent on the state you live in.
Can I get pre-approval on my caravan loan?
The majority of blenders will offer you pre-aprroval on your caravan loan. This can help your bargaining power when dealing with the sales manager when buying your next caravan
Comparing your caravan loan options can save you hundreds, if not thousands of dollars by finding the right product for your situation, but the savings shouldn't stop there. Don't forget to compare caravan insurance too, as this could save you even more money and also ensure you are covered should anything happen to your new van.
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We are wanting to buy a secondhand caravan and car. What is the best type of loan?
Hi Lara,
Thanks for your question.
Please note that finder.com.au is a financial comparison service and we can’t recommend any specific loan product to our users.
I suggest that you take advantage of our loan calculator above so that you’ll know which loan type can give you low monthly repayment under your desired terms.
Cheers,
Anndy
Can this loan be used for camper trailers?
Hi Bill,
It’s best to double check before you apply, but generally you will be able to use the loans on the above page for caravans or camper trailers.
Hope this has helped,
Elizabeth
I have queried on behalf of my mum (pensioner) in regards to a loan for a second hand caravan. Due to its age (2000) we’ve been told it must be an unsecured loan where the interest rate is much higher. Yet my mum owns her own house outright. With such an asset behind her surely a secured loan would be given approval?
Is this true?
Hi Kerry,
Thanks for your question.
Some lenders will be willing to use the equity your mother holds in her house as security for the loan, this is called an equity loan and you can find out more about it here. There are also other secured loan options you can consider, which you can read about it here. I’m unable to recommend a specific lender for you but hopefully you’ll find a few options to consider.
Thanks,
Elizabeth
Would a loan be available for a second hand caravan for a pensioner?
Hi Karen,
Thanks for your question.
All of the personal loans featured on this page are available for financing a caravan. In terms of availability for your situation, you can click through and read a review of the loan (by clicking on the title of the loan) and see the minimum income required and whether the lender will finance secondhand vehicles.
I hope this has helped.
Thanks,
Elizabeth