Caravan Loans

Compare affordable loans for caravans, motorhomes, RVs and camper trailers with Savvy.

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, updated on June 25th, 2024       

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Low-rate caravan loans made easy

The Caravan Industry Association of Australia revealed that there were over 770,000 registered caravans and campervans across the country as of 2021. If you’re one of the growing contingent of Aussies looking to buy a caravan or leisure vehicle, there’s never been a better time to compare affordable finance right here with Savvy. With a range of trusted lenders on our panel, we can help you find a competitive loan deal.

Enjoy the Savvy difference

We’ve been helping Australians just like you source financing for their ideal cars and leisure vehicles for over a decade, so we understand what makes a great loan. One of our expert consultants will help you through the application process from start to finish and handle the heavy lifting for you. Start the process with us today with a free, no-obligation quote and you can have your new or used caravan before you know it!

Family looking out the window of a camper trailer.

The features and benefits of caravan loans with Savvy

Any type of caravan

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, Traveller or Supreme, Savvy can help you access the finance you need for the vehicle you’re looking to purchase.  

New or used – it’s your choice

Finance is available for new and used vehicles of any size or type, as we’re partnered with flexible lenders who can approve finance for models up to 20 years (and sometimes older). 

No deposit required

We can help you get approved for a loan worth as much as 100% of the purchase price of the caravan you’re looking for, with no mandatory requirement for buyers to pay a deposit.

Competitive interest rates

With the backing of such a wide panel of lenders, we can help you pick out the most affordable interest rate and loan with more confidence.

Flexible repayment terms

You can decide which term is best suited to your needs, with repayment periods as short as one year and as long as seven available under a caravan finance agreement.

Get pre-approved before you buy

We can also help you get pre-approved for your caravan loan, which will help give you a clearer idea of the budget you have to work with and help give you a firmer hand in price negotiations.

100% online, rapid process

You’ll be able to complete your application online, including uploading your documents, and could have it formally approved within one business day and settled in two.

Why should I apply for a caravan loan through Savvy?

Applying for a caravan loan through Savvy

Our Process

Fill out our online application form

Tell us about yourself, your finances and the caravan you’re looking to purchase so we can look for offers suited to your profile. If you prefer, we can also take your application over the phone.

Send through your documents via our portal

There may be a requirement to send additional documents as a way of verifying your income and employment, which can be done via our online portal (where you can also sign your consent form electronically).

Discuss your options with your Savvy consultant

Once we’ve received your application, we’ll look for the best offers available among our panel. Your consultant will reach out to you to discuss them with you and provide you with an indicative interest rate.

Have your application approved and settled

After you confirm your preferred offer, we can prepare your application for formal approval (which can happen within one business day). We’ll organise settlement once everything is signed off on and you can be the proud owner of your new caravan!

More about caravan loans explained

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’ll determine whether there are any suitable offers on our panel which you can qualify for as an applicant.

To qualify for a loan to help you buy your RV, caravan, motorhome or camper trailer, the minimum requirements you’ll need for approval will likely be as follows:

  • 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 (though some lenders may accept less)
  • A clean credit history with no defaults or bankruptcies (there may be solutions available for borrowers with bad credit)
  • 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.

How do I compare caravan loans?

There are many factors you should look to compare when it comes to determining which caravan or camper trailer loan to take out. The key areas to consider before signing on the dotted line (which your Savvy consultant will help you with) include:

  • Interest rates: the higher your interest rate, the more you’ll pay over the life of your loan. It’s one of the most important factors to consider when comparing loan offers. For instance, on a $50,000 caravan loan over five years, an interest rate of 6.5% p.a. would cost over $1,400 less than a 7.5% p.a. loan. You can work out the cost of different loans with our caravan finance repayment calculator.
  • Fees: it isn’t just interest you’ll need to consider, but also fees. Lenders may charge one-off establishment fees (up to $600) and ongoing fees (up to $20 per month), but these may be waived in some cases. Consider these and also any early or late payment fees when comparing loans.
  • Repayment terms: you should always look to remain as comfortable as possible when it comes to repaying your loan, so it’s important to seek out a lender which can offer you the term you’re after. Not all financiers will offer the full range of one to seven years, so think about what your preferences are.
  • Minimum loan requirements: if you’re purchasing a particularly cheap caravan or only need a loan for part of the sale price, make sure your lender can accommodate the small loan size you’re after. The general minimum is $5,000, though some may set this at a higher level than others.
  • Applicant eligibility: as mentioned, not all insurers are the same when it comes to their eligibility criteria. Your Savvy consultant will only consider loans with lenders whose qualification requirements you meet.
  • Vehicle eligibility: additionally, different lenders will have different requirements when it comes to the types of vehicle they can approve finance for. This may relate to its age or repair history, so your consultant will double-check all the requirements before coming to you.

Frequently asked caravan loan questions

Can I still apply for a caravan loan if I’m retired?

Yes – we help many retired Australians gain finance approval. The amount you’re eligible to borrow will depend on your retirement income, with aged pension an accepted source for car loans and other types of finance. Assuming you’re earning enough to support the loan repayments for the caravan you’re after, we can help you hitch up your dream van in just a few days!

Can I get finance for a used caravan in a private sale?

Yes – you can be approved for the purchase of a used caravan as part of a private sale anywhere in Australia if you fulfil the required lending criteria. At settlement, the loan funds can be sent directly to the vendor, so all you’ll have to do is sign the required documents and let us handle the rest! 

Can I pay off my caravan loan sooner?

If you would like the option to pay off your caravan loan ahead of schedule, your consultant can have a look for lenders which enable borrowers to make free additional repayments on top of the required minimum amount. In doing so, you may be able to save on your loan overall, though this will depend on the cost of any applicable early repayment fees.

I’m wanting to buy a caravan to be used for my business. Is this possible?

We can arrange highly competitive business caravan finance options including chattel mortgageshire purchases and leasing options which are more suitable for businesses. For instance, if you run a caravan rental business, purchasing models with a chattel mortgage can enable you to repay the debt at your speed while also enabling you to claim its interest, as well as GST and depreciation on the vehicle, as tax deductions.

Are unsecured loans available for caravans?

Yes – there may be some situations where you might take out an unsecured loan to purchase a caravan, such as if it doesn’t meet any insurer’s eligibility criteria relating to age and/or condition. Unsecured loans typically come with higher interest rates, however, so it’s important to bear in mind that you may have to pay more under this type of agreement.

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