Caravan loans

Personalised Loan Shopping

See which lenders will give you the best caravan loan. Instant online results.

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This is a totally free process and will not affect your credit rating.

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Here's how easy it is

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One smart-form

Simple & quick, we narrow down the lenders you're eligible for.

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Personalised rates

See multiple lender rates you actually qualify for, all at once.

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Checkout with confidence

After easily comparing, select the lender who best suits you.

MONEY HAS BEEN FEATURED ON:

Our mission

Money.com.au (Money) is on a mission to enable Australian consumers to enjoy an online shopping experience for financial products, starting with personal loans.

We believe that by providing you with fair & transparent choice, we will achieve our mission, and help more Australians get better deals (more for your money).

Putting you first means:

  • We only show you loans you qualify for, ranked by the lowest repayment

  • We show you “apples with apples” loan comparisons (by simplifying & standardising information)

  • We do not accept paid endorsements or promote lenders based on commission.

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Compare personal loan rates

Loan Amount
Loan Terms
Interest Rates
(APR)
Comparison Rates
(APR)
$5,000 - $50,000
18 - 84 months
5.95 - 17.95% 5.95 - 17.95% Get your rate
$5,000 - $50,000
1 - 5 years
6.99 - 20.49% 6.99 - 22.06% Get your rate
$5,000 - $63,000
3 - 7 years
6.49 - 20.45% 7.22 - 21.28% Get your rate
$5,000 - $63,000
12 - 36 months
19.95 - 28% 35.97 - 47.66% Get your rate

Key features of a caravan loan:

  • Borrow from $2,000 to $75,000

  • Fixed or variable interest rates

  • Repayments to suit your budget

  • Terms from 1 to 7 years (most common is 3 years)

  • Secured & unsecured options

Who is eligible for a caravan loan?

  • Australian Permanent Residents (& some visa holders)

  • Must be over the age of 18

  • Earn a minimum of $25,000 a year

Learn more about caravan loans

What are caravan, motorhome, RV loans?

Caravans, motorhomes and recreational vehicles (RVs) are a great way to see Australia and travel for less. While their ongoing costs may be low compared to other forms of travel, they can be expensive to buy.

If you’re unable to purchase the vehicle outright, a secured or unsecured vehicle loan can often be used to fund the entirety of your purchase.

A caravan, motorhome, RV loan is a secured or unsecured personal loan that allows you to buy a caravan or other mobile home.

You’ll borrow an amount of money to finance the purchase of the vehicle then repay the loan amount - plus interest - over a fixed term. Repayment periods differ from lender to lender but are usually weekly, fortnightly or monthly.

Secured vs unsecured

A secured loan uses the caravan or mobile home you purchase as security. This lowers the risk for the lender, which might mean you’re able to access a longer loan term, lower interest rates and a high maximum loan limit.

However, this may place limits on the type of caravan you’re able to buy with the funds and, if you default on your payments, the lender has the power to repossess the vehicle to recoup their losses.

An unsecured loan is not secured against any of your assets. If you do not own any assets - such as a family home - an unsecured loan can provide access to finance. These loans may offer more flexibility but they also might have higher interest rates, lower maximum loan limits and a shorter loan term.

Secured caravan loan vs unsecured caravan loan

Secured
Unsecured
Maximum amount
Higher
Lower
Rates
Lower
Higher
Use of funds
May be limited to buying the caravan itself and may restrict the type of caravan you can buy.
Usually flexible - funds can be used for any reasonable legal purpose.

Money Tip: An unsecured caravan loan doesn't require any collateral.

Compare caravan, motorhome, RV loans

Always shop around and compare multiple options before committing to a certain caravan, motorhome, RV loan. Look for a loan with repayments that you can estimate to ensure affordability, and look for terms and rates that suit your financial circumstances.

Whether you’re looking for the lowest rate, the lowest repayments, or just a caravan loan without unnecessary fees, taking a few minutes to compare your available options can save you time and potentially hundreds or thousands of dollars over the lifetime of your loan. You can do that simply by using our smart-form.

Compare the following caravan, motorhome, RV loan features when shopping around:

  • Rates - Interest is the biggest cost of almost any loan, so keep an eye out for a low rate. Keep in mind, the loan with the lowest interest rate isn’t always the cheapest - you need to look at fees, loan term and loan features to see the full picture.

  • Loan term - A longer loan term means lower repayments, but higher total interest and fee costs. A shorter loan is the opposite. Try to find a loan term that balances repayment affordability with interest and fee savings.

  • Loan minimum and maximum amount - Most caravan, motorhome, RV loans have loan minimums of $2,000 and maximums from $50,000 to $75,000.

  • Loan features and flexibility - Different loan features may offer flexibility, or make your loan easier to repay. For example, some loans allow you to choose whether to repay your loan weekly, fortnightly or monthly to suit your pay cycle. Others might offer same-day loan approval and payout of funds within 24 hours.

Fees are also important to understand when comparing loans to buy your caravan. Make sure you know how much you’ll pay by checking each loan’s Product Disclosure Statement and comparison rate (a single rate which includes both interest and fees).

The four types of fees you should be aware of when comparing lenders for a caravan loan include:

  • Upfront costs - establishment fees and application fees

  • Ongoing fees - annual fees and monthly fees

  • Late payment fees - charged if you miss a payment

  • Extra repayment fees - charged if you make early repayments to reduce the amount of interest payable on the principal amount.

If you do not find any available offers to compare, you can work with a personal finance broker to assist in finding you a suitable deal and completing your application.

Brokers operate all across Australia — whether you need a caravan loan in Canberra, Newcastle, Sydney, Melbourne, Brisbane, Perth, or Adelaide, you'll be able to find one who can help you assess a range of suitable options specific to your financial circumstances.

Where to get a caravan loan

Most lenders in Australia will offer loans suitable for caravan, motorhome and RV purchases, including:

  • Non-bank lenders

  • Finance brokers

  • Vehicle dealerships

Non-bank lenders

Non-bank lenders and neo-banks are becoming increasingly popular with borrowers due to fast approval times, low fees, and easy, online loan applications. Many non-bank lenders offer secured vehicle loans specifically for caravan, motorhome or RV purchases, while others offer unsecured loans that can be used for any purpose.

Caravan loans from a non-bank lender may have:

  • Same-day approval.

  • Quick, easy online applications.

  • Flexible repayment terms and the ability to make fee-free early repayments.

  • Higher interest rates compared to the big banks.

  • Shorter terms than caravan loans with traditional lenders.

Vehicle finance broker

Vehicle finance brokers are intermediaries who secure vehicle finance from lenders for their clients. Usually, they’re paid a commission by lenders, although some brokers charge their clients a fee.

A good vehicle finance broker will offer impartial advice on a range of vehicle finance products and advise you which is most suitable. They can also assist in your application to ensure you meet a lender’s approval criteria.

Caravan, motorhome, RV loans from a vehicle finance broker:

  • May require a fee.

  • Allow you to select from a range of the most suitable loans.

  • Often include guidance on submitting your application (your broker may even submit your application for you).

  • Have varying rates, fees, and terms depending on the options available - your broker will consider the best options based on your financial circumstances.

Vehicle dealerships

Many car dealerships that sell caravans and RVs will offer finance as well. These loans are often convenient and include an easy application process - you can generally apply at the dealership when you purchase your vehicle - but they’re rarely good value compared to loans from established lenders.

Caravan, motorhome, RV loans from a vehicle dealership may:

  • Have high interest rates and fees.

  • Have less flexible repayment terms.

  • Be suitable if you are looking to finance your vehicle immediately at time of purchase.

Money Tip: Financing a newer vehicle and having a high credit score are two key factors to getting a low-interest rate car loan.

How to qualify and apply icon

How to qualify and apply

You can apply for a caravan loan in Australia if you are:

  • Over the age of 18; and

  • An Australian citizen or permanent resident; and

  • Employed or have a regular source of income over $25,000 per year

If you meet the basic eligibility for a caravan loan, you will then need to compare lenders and assess their individual approval criteria.

To get a caravan loan you will need to:

  • Submit a loan application to a lender

  • Meet the lender’s approval criteria for the loan

  • Sign a loan contract and agree to the terms of the loan

The most important factor when gaining approval is to demonstrate your ability to meet the repayment schedule over the term of the loan.

If you use our smart form and find a lender you want to apply with, you will be directed to the lender’s website and need to supply all documentation as you normally would when applying for a caravan loan, which may include:

  • Proof of identity — e.g. passport or driver licence

  • Proof of income — e.g. payslips, bank statements

  • Details of any current debts or other loans

You will need to provide personal identification and financial documents (usually your bank statements or recent payslips), as lenders will need to assess your financial stability and determine if you can service the loan amount.

Money Tip: Depending on the lender you choose to apply with, approving your application can take anywhere from a few minutes to a couple of days.

Summary icon

Summary

A caravan, motorhome, RV loan is one option to consider if you want to purchase a caravan. When choosing your loan it’s important that you compare several loans to find one that’s both affordable and suitable for you.

You’ll have a range of options when it comes to the lender you go with including banks, non-bank lenders, vehicle finance brokers and dealership finance. Take care to choose a lender that caters to your needs and offers competitively priced loan products.

Caravan loans in Australia:

  • Range from $2,000 to $75,000

  • Can be secured or unsecured

  • Have terms from 1 to 7 years

  • Used for many different purposes

  • Do not require a deposit

  • Can have fixed or variable interest rates

How much money do you need?

Here are the most popular questions people are asking about caravan loans:

Can I get my caravan, motorhome, or RV loan pre-approved?

Yes, most lenders offer pre-approval for vehicle loans. Pre-approval is usually valid for one to three months so you’ll have plenty of time to find a caravan, motorhome or RV.

How much can I borrow?

Specialist loans for caravans, motorhomes and RVs usually have maximum loan amounts of up to $75,000 and minimums of $2,000. Unsecured loans on the other hand, usually have slightly lower limits of around $50,000.

Minimum Amount
Maximum Amount
$2,000
$75,000

How long can I borrow the money for?

Most lenders offer caravan, motorhome and RV loans with terms from two to seven years. Keep in mind that a longer term may mean lower repayments, but it’ll also mean you pay more interest and fees over the life of the loan.

Minimum Term
Maximum Term
2 years
7 years

What fees are included?

Most lenders charge fees for caravan, motorhome and RV loans, which may include:

  • Upfront fees or establishment fees when you apply for the loan

  • Penalty fees for missing repayments or making early repayments

  • Ongoing account management fees

  • Exit fees if you repay your loan early

Can I get a caravan loan if I have bad credit?

You may be able to get a caravan, motorhome, RV loan if you have bad credit but you may be charged higher interest rates. If you’re not able to secure a loan with bad credit, it may be worth applying with a lender that specialises in bad credit lending.

Do I need a deposit for a caravan, motorhome, or RV loan?

Most lenders don’t require a deposit for a caravan, motorhome, RV loan but some do so it’s best to check with the lender before applying. In some cases having a deposit may make the lender more likely to approve your loan.

Can I buy a caravan from a private seller using a loan?

You may be able to, however some lenders only allow you to secure a caravan, motorhome, RV loan against new vehicles and others may require you to buy from a dealership. If your lender doesn’t lend on privately sold vehicles you may be able to use an unsecured loan to finance your caravan instead.