Caravan Loans

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 are plenty of caravan loan products on the market.

How do caravan loans work?

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.

NRMA Caravan Loan

NRMA Caravan Loan

From

4.99 % p.a.

fixed rate

From

5.69 % p.a.

comparison rate

• 5 hour pre-approval
• No monthly fees
• Extra repayments at any time

100% confidential application

NRMA Caravan Loan

You can borrow from $5,000 for a new or used caravan and get the funds the following day.

• Interest rate from: 4.99% p.a.
• Comparison rate: 5.69% p.a.
• Interest rate type: Fixed
• Application fee: $499
• Minimum loan amount: $5,000

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Caravan loans comparison

Loan amount

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Loan term

1 year 2 years 3 years 4 years 5 years 6 years 7 years

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Name	Product	Interest Rate (p.a.)	Comparison Rate (p.a.)	Min Loan Amount	Loan Term	Application Fee	Monthly Service Fee	Monthly Repayment
NRMA Caravan Loan		From 4.99% (fixed)	5.69%	$5,000	1 to 7 years	$499	$0		You'll receive a fixed rate from 4.99% p.a. Finance a new or used caravan with a loan from $5,000. No monthly fees and flexible repayments available.	Go to site More Info	Compare	loading Fetching your data...
Credit Concierge Caravan Loan		From 3.99% (fixed)	5.25%	$7,500	1 to 7 years	$395 ($395 Establishment fee)	$10		You'll receive a fixed rate from 3.99% p.a. with a comparison rate of 5.25% p.a. Get a secured or unsecured loan to help fund a new or used caravan.	Go to site More Info	Compare	loading Fetching your data...
Stratton Finance Caravan Loan		From 5.49% (fixed)	7.22%	$10,000	1 to 5 years	$700	$8.90		You'll receive a fixed rate from 5.49% p.a. based on your risk profile Borrow from $10,000 to $200,000 and use to finance a caravan, camper trailer or a motorhome. Get access to a range of lenders.	Go to site More Info	Compare	loading Fetching your data...
Driva Caravan Loan		From 3.95% (fixed)	5.1%	$2,000	1 to 7 years	$295 (varies by lender, starting from $295)	$10		You'll receive a fixed rate from 3.95% p.a. Borrow between $2,000 and $250,000 with loan terms from 1 to 7 years. Get customised quotes from a range of lenders.	Go to site More Info	Compare	loading Fetching your data...

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What types of caravans can I purchase?

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.

• Full caravans

  A full caravan is a conventional caravan with a full height roof and solid walls. It doesn't require any kind of setting up or packing down. These caravans car vary significantly in size, and while smaller ones are single-axle, the larger ones are double-axle. Full caravans find favour with many because they’re ready to go at all times, they offer adequate storage, and they can offer suitable protection from harsh weather conditions. Apart from getting a full caravan with air conditioning, you can also find ones with kitchenettes and home entertainment systems.

• Pop top or pop-out caravans

  If you’re looking at keeping the size of your caravan small while towing, but want the benefit of extra space when required, getting a pop top or pop out caravan might be a good idea. These relatively small-looking caravans come with extra pop-out sections that you can use when you set up camp. The 'pop' can come out sideways, and some models even pop upwards to offer full height.

  While travelling, such a caravan gives you a clear view of the road behind you and the pop-out section gives you the luxury of extra sleeping or seating space. These are considerably smaller and lighter than full caravans, are normally more aerodynamic, and can lead to lower fuel costs. One drawback is that you have to deal with reduced space while driving, so you can’t take as much with you.

• Wind-up and out caravans

  Imagine a camper trailer turning into a caravan — this is essentially what a wind-up caravan does. Such a caravan extends quite like a pop-up caravan, but offers a significantly larger space. Such a caravan offers similar benefits as that of pop-out caravans, but their extra space can require more time to setup and pack down.

• Teardrop trailers

  The main reason behind the popularity of teardrop trailers is that they are easy to tow. You can tow one using a sports car, a small classic car and even a trike. These small trailers are ideal for light travellers, and they come with very basic equipment in terms of bedding as well as cooking.

• Fifth wheeler caravans

  A typical fifth wheeler caravan is larger than a traditional full caravan. It also offers more a higher level of luxury and many view them as mobile homes. For instance, fifth wheeler caravans tend to make use of real furniture as opposed to fixtures. Such a caravans come without a conventional caravan hitch, so you have to articulate a towing connection on its bed, and to tow one you require a ute or a pickup truck. One drawback is that a fifth wheeler caravan is classified as a Big Rig. This means you cannot access all campsites and roads, so you'll require meticulous planning for your trip.

• RV or motorhome

  An RV (recreational vehicle) is another name for a motorhome, and this is essentially a caravan that also doubles up as a vehicle. A motorhome does not require any setting up; you can simply decide to leave, pick your keys and leave. They can offer extra space in the form of pop-out sections and can come with a variety of equipment and fixtures. The size of an RV can be a drawback at times, especially if you want to go sightseeing. One option is to tow a small car with your RV, but you need to establish if it’s worth the trouble.

How should you compare your caravan loan options?

• Find out the interest rate. Interest rates for caravan loans tend to be quite competitive, but it’s still important to use interest rates as a comparison point as this is where you can potentially save a lot of money. Decide whether a fixed or variable interest rate is right for you and go from there.
• Will the loan be secured or unsecured? Caravan loans can either be secured or unsecured. Unsecured loans can have less risk but they often have higher fees to compensate for this risk. Choose whether you want a secured or unsecured loan and then compare fees and charges once you have made your decision.
• Are you given flexible repayment options? Most caravan loans tend to have flexible loan repayments but some are better than others. The can offer fortnightly or monthly repayments by BPAY or direct debit, so choose a loan that offers convenient options.
• See what loan terms are on offer. The term lengths of caravan loans vary depending on which financial provider you go with. The amount of money you borrow will influence the term length but it’s also recommended you have a rough idea of how long it will take you to repay the loan before agreeing to anything.

What to avoid with a caravan loan

• Watch out for over-committing to a high loan amount. Ensure that you’re not borrowing more than you can afford to pay back before you take out a caravan loan. It’s also important to not get yourself into too much debt. If you are currently in debt, it’s strongly recommended that you don’t take out another loan and instead consider your other options first. Continuously borrowing money is a very dangerous move.
• Any hidden surprises in your contract. Just like with any other loan, you will be required to commit to a contract. Make sure you carefully read through your contract before committing to it so you aren’t hit with any unexpected charges

Can I get a caravan loan if I'm retired?

Caravan loans are available to people in various financial situations, including pensioners. However, lenders differ on their eligibility criteria. Lenders usually have minimum income requirements and consider certain forms of income, so lenders offering caravan loans to pensioners may consider the age pension or super payments as income, or even consider income from rental payments. More specific information is provided in the table at the bottom of the page.

To get your application across the line, provide as much detail and documentation on your income streams and finances as possible.

How to start your application for a caravan loan

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.

What documents will I need for my caravan loan?

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:

• Drivers licence, Medicare number
• Payslips or proof of income
• Confirmation of your address

How much can I borrow for my next caravan?

Use the calculator below to work out how much you could borrow and what your repayments might be.

What criteria do I need to consider when I'm applying?

Before submitting your application it's important to give yourself the best chance at being approved. Understanding the minimum eligibility criteria is taking the first step towards doing this. In the table below we've broken down the criteria you need to consider for each of the lenders when it comes to yourself and the caravan you want to purchase. Remember to consider all other aspects of the loan before submitting your application.

Frequently asked questions about caravan loans

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

While you're comparing caravan loan options

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.