Knowing the cost of financing the purchase of your caravan, RV or camper trailer is a crucial first step in the loan process. It’s important not to overcommit financially or saddle yourself with a burdensome loan when there are other more affordable options available to you.
Using our handy caravan loan repayment calculator gives you a key understanding about the cost of taking out your preferred loan, as well as allowing you to compare other loans of different rates and lengths. Customise your calculation based on amounts, terms, rates, schedules and deposits. Start crunching numbers now and set yourself up to find the most suitable loan for your situation.
The benefits of sourcing your caravan financing with Savvy
A competitive market breeds low rates, which you can enjoy across your loan term thanks to their being fixed to enable consistency and accuracy of budgeting.
Lenders are highly flexible when it comes to the amount you can be approved for, with your loan sum tied to the value of your van or trailer up to its purchase price (with on-road costs able to be bundled in where applicable).
Your loan term is wholly customisable to your needs. Whether you want to cut down on monthly repayments with a term up to seven years or maximise your overall savings with a loan as short as 12 months, you can do so with our lenders.
On top of this, you’re also afforded the opportunity to select the frequency at which you make your loan contributions, which can come either on a weekly, fortnightly or monthly basis to fit around your income needs.
The nature of caravan financing means that the whole process is rapid from start to finish. From the point that you submit your quick quote to your lender sending the funds to your seller can take as few as 48 hours all up.
The level of choice doesn’t end at your loan options, either. You can choose your desired caravan regardless of whether it’s brand-new or a few years old, with models up to 15 to 20 years of age able to be accepted as security.
You won’t have to stick to the script when it comes to completing your repayments, with many lenders allowing you to make contributions above the minimum required amount and complete your payments early without additional charges.
If you want to reduce the amount repayable with interest on your loan, as well as cut down on your monthly repayments, you can choose to make a deposit on your loan.
Why so many Australians choose Savvy for their caravan loan needs
How to maximise your approval chances for caravan finance
Verifiable borrowing history
Because a caravan or similar model is likely to set you back a considerable amount of money, lenders will look to borrowers who have a demonstrable history repaying loans of a similar nature.
Those in this position come with a lower level of risk, as they’ve proven themselves disciplined enough to repay a sizeable loan debt in the past.
What type of RV or caravan is best?
This question is best answered with a question: what type of leisure vehicle does you or your family need? Here's a short sample of what's available.
- Full size caravans – the traditional mobile home, coming in various sizes and with various features.
- Recreational Vehicles or RVs are perfect for people who want to combine their vehicle with their living space. It has many modern conveniences, though it's extremely hard to park.
- Pop-top/pop-out or wind-out caravans – caravans that drive compact but extend outwards. Good for saving fuel, but you sacrifice storage space.
- Fifth wheeler caravans – the “big boss” caravans that offer ample space and creature comforts. Think Big Hollywood star or rock n' roll style caravans!