“Super quick, I got lots of offers. All I had to do was choose which one! I went with Wisr because they were the cheapest. Thanks” - Angela
A caravan loan is similar to getting a car loan, which can mean;
Always shop around and compare multiple options before committing to a loan.
There are a few things you’ll want to look at:
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!
Caravan loan fees include:
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.
Here is how your credit history can influence your ability to be approved.
You can apply for a caravan loan in Australia if you are:
If you meet the basic eligibility for a caravan loan, you will then need to compare lenders and assess their individual approval criteria.
The most important factor when gaining approval is to demonstrate your ability to meet the repayment schedule over the term of the loan.
You'll need to supply;
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.
Just like you shop around for your caravan, be sure to do the same with the finance, you’ll have a better chance of negotiating if you know:
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.
Get matched with real loan offers from up to 11 lenders, all at once.
We show you the best interest rates and repayments from each lender you match with
The rates are based on who you are and where you are at in life
No obligations, just the facts, make an informed choice
There are no middlemen, marked up pricing or broker fees. (We get paid by the lender)
Just like when you use a dating app or go to a broker, we use your answers to show you real lenders, real rates and actual repayments across all our lenders that you’re eligible for; without any broker fees or marked up interest rates.