Caravan Loans From 3.99%
Last updated on April 21st, 2022 at 03:46 pm by Cate Cook
Relax with lower rates on caravan finance
Since 2020 caravan sales have boomed. There are now more than 800,000 recreational vehicles registered on Australian roads, according to the Caravan Industry Association of Australia.
You can quickly join the thousands of Australians choosing to take their holiday in a caravan, motorhome or other RV by taking out a low-rate caravan loan using Savvy’s smart online application process. With same day approvals and speedy settlements, Savvy can take the weight off your shoulders and get you motoring off into the sunset sooner!
Savvy is a market-leader in recreational vehicle finance. Partnered with all major lenders nationwide, we’ll do the hard work for you to compare and find you the most competitive and suitable loan geared to your individual needs. Our simple, intuitive application process backed by exceptional customer service will make your caravan-buying experience a breeze!
By using the trusted experts in recreational vehicle finance, you can relax in the knowledge that you’ll get the most competitive and flexible loan available. So sit back, start dreaming and let Savvy help you turn your sunset vision into reality!
Get the right caravan loan with Savvy – here’s how we can help!
Any type of vehicle
It doesn’t matter whether you choose a pop-top, a slide-out or even a fifth wheeler, we can help you get the most appropriate finance to suit your personal lifestyle and needs.
All leading caravan brands
Whether you choose to buy a Jayco, a Traveller or a Supreme, Savvy can help you get the best possible finance for the vehicle you’ve always dreamed of owning.
New or used – it’s your choice
Finance is available for new and used vehicles of any size or type, as long as it’s less than 24-year-old.
No deposit needed – 100% finance offered
We can offer you 100% of the cost of your vehicle for approved loan applicants, so there’s no need to save for a deposit.
Borrow as much or as little as you need
With loans from $5,000 upwards, you can gear your loan to the cost of your new caravan. Use our handy caravan loan calculator to help you work out exactly how much your repayments may be per month.
Flexible repayment terms
You can pay back your caravan loan over a period of one to seven years, so it’s up to you to decide how much you can afford to pay.
The Savvy advantage to help with your caravan loan
Competitive interest rates
You can be guaranteed you’ll get the most competitive interest rate available as Savvy searches the market and finds the best deal available for you.
Wide range of lenders
We’re partnered with over 25 lenders nationwide, so we can hunt down the perfect loan for you. Just tell us what features you want – and we’ll find a lender to suit you.
Easy online application process
Our online application process will guide you step-by-step through everything you need to know to ensure you enjoy a speedy and hassle-free finance experience.
Guaranteed data security
Your data is protected by 256-bit encryption. Our system has been vetted by world-class security experts – so you know that you’re 100% safe with Savvy.
Fast approvals
You’ll get an answer to your loan application within 24 hours; once approved, your loan money can be transferred into your account within 48 hours.
Expert guidance
Savvy consultants have years of experience helping people to successfully apply for caravan finance, so do yourself a favour and let the experts help you too!
What our customers say about their finance experience
Savvy is rated 4.8 for customer satisfaction by 519 customers.
Simple steps towards your caravan loan approval
Do your research, find your dream caravan
It may be worth visiting several different caravan dealers to get a good idea about the range of features and options available.
New caravans usually sell from $18,000 all the way up to luxury ‘hotels on wheels’ costing over $150,000! The average price of a new caravan in Australia is around $30,000.
Calculate possible repayments
Use Savvy’s handy caravan loan calculator to get an idea about how much your repayments may be per month.
Enter your loan amount and loan term and the Savvy caravan loan calculator will tell you instantly what your monthly repayments will be.
Complete a quick quote online
Answering a few basic questions will get you started on your journey towards becoming a caravan owner.
Speak to a Savvy consultant
A Savvy consultant will compare lenders and find the best possible loans available, tailored specifically to your personal needs.
You’ll be given details about all possible options so you’ll be able to choose the finance option you’re most comfortable with.
Complete your application & get approved
Once you’ve decided which lender you prefer, your consultant will assist you to complete the application process.
Often you’ll get approval the same day, so within 48 hours settlement will be complete and you’ll be able to take delivery of your caravan.
Will I be eligible for a caravan loan?
Lenders vary, and so do their eligibility criteria to approve loans. Savvy’s team of experts have years of experience in recreational vehicle finance, so we will be able to compare the offers available and give you the best advice possible.
To qualify for a loan to help you buy your caravan, motorhome, camper trailer or RV the minimum requirements you’ll need for approval are:
- To be at least 18 years of age
- Australian citizenship (or living here with permanent residency)
- Working either full or part-time, earning at least $26,000 per year
- A clean credit history with no defaults or bankruptcies
- A reasonable credit score
- 100 points of identification
If you fulfil all these minimum requirements, you should then consider how much you can afford to pay in addition to your existing mortgage and any other credit cards, lines of credit or loans you may have.
Should I choose an unsecured personal loan instead?
It’s your choice of course! However, an unsecured personal loan will cost you far more than a loan specifically designed for caravan purchasers. This is because a personal loan is considered a higher risk by most lenders than a secured caravan loan. Therefore, because the perceived risk is higher, so too will the interest rate be.
Example: John and Sandra are in their early 60’s and have an excellent credit rating. Having been on several caravan holidays with friends, they’ve now decided they want to buy their own first caravan.
On a caravan sales website the you’ve found a 2016 Supreme Executive caravan, which is exactly the van they’ve been looking for. They want to borrow $30,000 to buy it, and intend to pay off their loan in 3 years before they retire.
With a secured caravan loan, and a comparison interest rate of 4.99%, their monthly repayments will be $899, and the loan will end up costing them a total of $32,364.
If they chose an unsecured personal loan with a comparable interest rate of 6.49%, their monthly repayments would be $919, and they would end up paying $33,096.
By choosing a specific caravan loan, John and Sandra saved themselves $732.
Their loan was approved the same day; two days later their caravan dealer received the money and slapped a big red SOLD sign on their immaculate silver Supreme Executive. The following day they had a tow bar and electronic brakes fitted to their Toyota Land Cruiser, and that weekend they headed north with their new set of wheels for their first caravan holiday together.
Savvy can help you finance your next caravan by comparing lenders. We’ll find you a loan that suits you and your individual financial needs, possibly saving you hundreds of dollars over the life of your loan – just like John and Sandra.