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Can you get finance on a caravan?

Written by

Shaun McGowan

The big question before you buy is can you even get help financing your purchase? The answer is yes!

Caravan loans are very common and make what could be a big expensive purchase, much more manageable and affordable.

Loan terms and amounts are flexible, and you can choose your repayments to match your pay cycle.

Caravan loans with Money Matchmaker

What kind of loan do you need for a caravan in Australia

A caravan loan is similar to getting a car loan, which can mean;

  • Lower, fixed rates
  • Flexible terms and repayment options
  • No deposit required
  • Simple and quick approvals

With a caravan loan you can finance anything from a camper trailer, RV, Motorhome or even a converted bus.

What should I look for when comparing caravan finance options?

Always shop around and compare multiple options before committing to a loan.

There are a few things you’ll want to look at:

  • Borrowing amount- the amount of money you can get approved for
  • Interest rates - the standard, ongoing charge for borrowing money
  • Loan terms - how long you can borrow the money for. A longer term means cheaper repayments but more overall interest.
  • Fees - the most common cost that can be avoided!

While we’re talking about fees, there are four types you should be aware of. Some of these are one-off fees, while others may cause ongoing costs or complications down the line!

What fees are included in a caravan loan?

  • 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.
Fees on loans to be aware of

What employment types do lenders look at for caravan loans?

Lenders love boring, or should we say, consistency!

They love it if you've had the same job forever and have been at the same house since you first left home.

Here's an example of how your employment history can influence your approval.

employment history applicant

What sort of credit history do I need for a caravan loan?

Your credit score and your previous borrowing history can affect your ability to get the best rate.

Find out more about how credit scores and history affect caravan loan interest rates.

credit history applicant

Caravan Loan Rate Comparison

Caravan loan amount5% interest7.5% interest10% interest





































Comparison caravan loan repayment examples are calculated using monthly repayments with a fixed interest rate on a 5-year term. They do not include any fees that may be charged by a lender in addition to interest.

The cheapest caravan finance rates in Australia

Today, the lowest rate caravan loan has an interest rate of 3.99%, with a comparison rate of 4.14%.

Rates will vary based on the credit history of the applicant and the type of caravan you are purchasing.

Find the best deal on caravan loans


Should I use my home loan to finance a caravan?

Home loans are typically spread over a longer term, say 25 years, while they have low interest rates the long loan term means you actually end up paying more in interest.

A caravan loan, or personal loan, has a much shorter term, typically 5 years. While the interest rates are normally 2% higher than a home loan, a shorter term means less interest paid overall.

So if you want to save money, it would be better to look at using a loan fit for purpose to purchase your caravan.

Use our caravan loan calculator to see your total interest and repayments.

Am I eligible for a caravan loan?

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.

How to qualify for a loan in Australia

How much can I borrow for a caravan loan?

Caravan finance lenders have a duty of care to ensure you can afford to meet your payments. Therefore how much you can borrow generally comes down to how much you can comfortably afford to repay.

Most lenders will offer caravan finance from $5,000 right up to $200,000 - making most caravans available to be financed.

What are caravan loan repayment instalments?

You will be able to choose your instalments to fit your pay cycle - most lenders have weekly, fortnightly or monthly repayment options for caravan loans.

To make paying a caravan loan off easier, and to ensure you don't get penalised for late payment, choose a repayment schedule that suits your pay cycle.

Use our caravan loan calculator to see what your repayments would be weekly, fortnightly or monthly.

How long can I take caravan finance for?

Most caravan loans are taken over 5 years, however you can get a term as short as 1 year, or as long as 7 years.

A longer term can make repayments more affordable but you will most likely end up paying more in interest.

Shop around before you sign up for a caravan loan

Just like you shop around for your caravan, be sure to do the same with the caravan finance, you’ll have a better chance of negotiating if you know:

  • Exactly how much you can spend
  • The best interest rate you can get
  • How much your repayments will be
Shop around for a personal loan and save thousands with Money Matchmaker

Don't forget about these extra costs that may apply

Upfront costsOngoing Costs

Purchase price


Dealer delivery charges


Stamp duty


Inspection costs

Roadside assistance

What is the comparison rate on a caravan loan

When comparing caravan loans, use the comparison rate so you are accounting for all fees and potential charges. This is the true rate of your loan.

However not included in the comparison rate are Variable fees - such as late-payment or dishonour fees and early repayment fees.

If you use our Money Matchmaker® to compare, the comparison rate will be listed clearly on the results screen.

Understand what a comparison rate is showing you

We can help you get caravan finance anywhere in Australia

Today, most caravan loans are organised over the phone with a broker or lender.

All the major lenders are located in the capital cities like Perth, Sydney, Melbourne, Brisbane, Adelaide and Hobart.

All the lenders we work with all have Australian based teams. So rest assured, when arranging your loan you'll be working with a company in Australia.


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Here are the most popular questions people are asking about caravan, motorhome, camper trailer, RV loans

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.

You may be able to get a caravan, motorhome, RV loan if you have bad credit but you may be charged higher interest rates.

Yes you certainly can. We all know you’ll get a better deal on the price, just make sure you get the caravan fully checked out by an independent party.

Typically you can borrow up to $75,000. The average is around $35,000.

Loan terms range from 1-7 years. Longer terms will reduce your committed repayments. Find a lender who allows you to make extra repayments and pay your loan out early with no fees.

The right caravan loan can save you $1,000s


About the Author

Shaun McGowan from



Shaun McGowan

Shaun is the founder of and is determined to help people pay as little as possible for financial products. Through education and building world class technology. Previously Shaun co-founded and Lend.

*Information about comparison rates Comparison rates are designed to allow borrowers to understand the true cost of a loan by taking into account fees and charges, the loan amount and the term of the loan. The comparison rate is based on an unsecured fixed rate personal loan of $30,000 over 5 years. WARNING: Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.