How do caravan loans work?
A caravan loan lets you finance your caravan, motorhome or other recreational vehicle with affordable, structured repayments, helping you spread out the cost of your purchase over time.
At Savvy, we work with an extensive panel of lenders to find finance options that suit your individual needs. Here’s what you can expect when arranging a caravan loan through us:
- Secured or unsecured: you can use your RV as collateral, potentially qualifying you for lower interest rates, or take out an unsecured loan if your vehicle doesn't meet the criteria.
- Flexible purchase options: as long as the RV meets your lender's requirements, you can buy new or used, from a dealer or private seller.
- Loans from $5,000: borrow from as little as $5,000 up to the full purchase price of your caravan.
- Cover additional costs: your loan can cover more than just the caravan, including
registration, insurance and accessories for the vehicle like towing equipment. - No deposit required: there’s no need to pay anything upfront or dip into your savings to secure your RV.
- Competitive interest rates: we work with a broad panel of lenders offering highly
competitive rates, helping you secure a loan that fits your budget. - Transparent fees: we’re upfront about any fees you’ll need to pay and will clearly
outline any additional costs and charges so there are no surprises. - Flexible repayment terms: you can choose a repayment term between one and seven years, providing the flexibility to tailor repayments around your budget and goals.
Why apply for a leisure loan with Savvy?
Caravan finance rates
Below are some of the best caravan loan rates available from our panel of lenders as of January 2026. Keep in mind that your final rate will depend on factors like your credit score, the type of caravan you’re buying and the loan term you choose.
Note: rates are calculated based on a $50,000, five-year caravan loan.
Caravan finance cost breakdown
When taking out finance, the total cost doesn’t just depend on the caravan’s purchase price. The interest rate also has a big impact, as well as any additional fees and charges. On average, customers arranging caravan finance through Savvy borrowed $52,925 with an interest rate of 10.81% p.a. However, how much interest you’ll pay depends on several key factors.
Your financial profile
When you apply for a loan, lenders will assess your financial profile to determine the interest rate you’re offered.
Your credit score is one of the biggest influences – the better your score, the lower your rate is likely to be. Lenders see borrowers with strong credit as lower risk, which means they’re more likely to offer competitive terms.
Even a small difference in rates can have a noticeable impact on costs. For example, on a $60,000 caravan loan over five years, an interest rate of 8.00% p.a. would mean around $12,843 in interest, while an 8.25% p.a. rate would cost about $13,270 – over $400 more.
Lenders will also consider:
- Income: a steady income shows you can comfortably make repayments.
- Employment: stable, long-term employment is viewed more favourably than casual or irregular work.
- Living expenses: lenders check your day-to-day spending to ensure you won’t be overextended when taking on a loan.
- Property ownership: owning property may strengthen your application, as it demonstrates asset backing and financial stability.
Loan type
An unsecured loan typically comes with higher rates than a secured one. This is because the lender has no collateral to fall back on if you can’t repay the loan. With a secured loan, the caravan itself (or another asset) is used as security, which lowers the lender’s risk. In an unsecured loan, there’s no asset tied to the finance, so the lender compensates for the higher risk by charging a higher interest rate.
To show how this can affect your costs, here’s a comparison of two five-year loans for the same $50,000 caravan – one secured, the other unsecured – for a borrower with a strong credit score.
| Secured loan | Unsecured loan | |
|---|---|---|
| Caravan price | $50,000 | $50,000 |
| Interest rate | 7.00% p.a. | 10.00% p.a. |
| Monthly repayments | $990 | $1,062 |
| Total interest | $9,404 | $13,741 |
| Total to repay | $59,404 | $63,741 |
Estimates calculated using Savvy’s caravan loan repayment calculator. These figures don’t include fees or other costs.
As this example demonstrates, securing your loan with the caravan as collateral can lead to a noticeably lower interest rate, which adds up to thousands in savings over the life of the loan. Your monthly repayments can also be lower, even though you’re borrowing the same amount. If a secured loan is an option, it’s often the more cost-effective choice.
New vs used model
A new caravan used as security will usually qualify for a lower rate than a used one. The average interest rate for new caravan loans in 2025 was 8.65% p.a., while the average for used models increased to 11.93% p.a.
Here’s how new and used prices compare for some of the most popular caravan models in Australia, and the cost difference taking into account interest, over a five-year term, using the average new and used caravan finance rates through Savvy from 2025:
Austrack Telegraph X
| Model year | Price | Interest rate | Monthly repayment | Overall interest |
|---|---|---|---|---|
| 2025 | $28,990 | 8.65% p.a. | $597 | $6,822 |
| 2022 | $17,000 | 11.93% p.a. | $378 | $5,653 |
|
2025 2022 |
|
$28,990 $17,000 |
|
8.65% p.a. 11.93% p.a. |
|
$597 $378 |
|
$6,822 $5,653 |
Jayco Starcraft 19ft
| Model year | Price | Interest rate | Monthly repayment | Overall interest |
|---|---|---|---|---|
| 2025 | $67,990 | 8.65% p.a. | $1,400 | $16,000 |
| 2021 | $48,000 | 11.93% p.a. | $1,066 | $15,962 |
|
2025 2021 |
|
$67,990 $48,000 |
|
8.65% p.a. 11.93% p.a. |
|
$1,400 $1,066 |
|
$16,000 $15,962 |
MDC AUSRV XL15E MKIII
| Model year | Price | Interest rate | Monthly repayment | Overall interest |
|---|---|---|---|---|
| 2025 | $74,990 | 8.65% p.a. | $1,544 | $17,648 |
| 2022 | $50,000 | 11.93% p.a. | $1,110 | $16,627 |
|
2025 2022 |
|
$74,990 $50,000 |
|
8.65% p.a. 11.93% p.a. |
|
$1,544 $1,110 |
|
$17,648 $16,627 |
Winnebago Burleigh
| Model year | Price | Interest rate | Monthly repayment | Overall interest |
|---|---|---|---|---|
| 2025 | $206,990 | 8.65% p.a. | $4,262 | $48,712 |
| 2020 | $150,000 | 11.93% p.a. | $3,331 | $49,882 |
|
2025 2020 |
|
$206,990 $150,000 |
|
8.65% p.a. 11.93% p.a. |
|
$4,262 $3,331 |
|
$48,712 $49,882 |
Calculations are for illustrative purposes only and do not include other caravan-buying costs. All figures are rounded to the nearest dollar.
While new caravans often attract lower interest rates, their higher purchase price means larger repayments and more interest paid overall. By contrast, used caravans are cheaper to finance and can save you thousands, even if the rate is slightly higher – as long as you’re comfortable with an older model.
Securing funding for modifications to your caravan
"With caravan loans, consumers often want more than the base model by adding accessories to suit their needs. While this is possible, there may be a limit to what the lender allows under a secured loan. If it exceeds this limit, your finance can be structured to add some accessories via a separate unsecured loan, if you don’t want to wait to kit out your new caravan."
What types of RVs can I finance with a caravan loan?
You can finance a wide variety of RVs with a caravan loan, ensuring you find the perfect fit for your lifestyle
and travel preferences. These include:
- Tent trailers
- Camper trailers
- Pop-up/pop-top caravans
- Caravans
- Slide-on campers
- Fifth wheelers
- Campervans (Class B RVs)
- Motorhomes (Class A and Class C RVs)
You’re not limited to certain brands either and can finance everything from major names to niche makes. In 2025, the most popular caravan makes financed through Savvy were:
How to apply for your caravan loan with Savvy
-
Apply online
Tell us about yourself and the caravan you’re after.
-
Provide documents
Upload your paperwork to our secure portal.
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Discuss your options
We’ll compare offers and present you with the best caravan finance deal.
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Get approved
Your consultant will prepare and submit your application.
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Sign and settle
We’ll handle the settlement and you can collect your caravan!
