How to find the best caravan loan in Australia

Caravan loans can help you finance your own caravan, teardrop trailer, fifth wheeler caravan or even an RV.

While caravans can be expensive, there are plenty of caravan loan products on the market. Compare them below and apply online.

How do caravan loans work?

You can borrow money to buy a caravan and that works in a couple of different ways. Typically, you'd get a personal loan and repay the money you've borrowed plus interest over a specific period of time.

You might also be able to get a vehicle loan that allows for the purchase of caravans.

The interest you pay on top of the loan will be either a fixed or variable rate. Fixed loans mean your monthly repayments stay the same throughout the term. Variable loans means they can change, but they tend to be lower.

Finder survey: Why do Australians buy a caravan?

Types of caravan loans

• Secured personal loan. Use your caravan as security and benefit from a lower rate. These loans can either be referred to as car loans or secured personal loans, but all come with similar features. You'd need to check that the lender allows the use of a caravan as security as some do not. But if they do, you risk losing your vehicle if you default on the loan.
• Unsecured personal loan. This loan allows for greater flexibility with your loan amount, so you can use it to purchase accessories for your caravan or even insurance. Unsecured personal loan rates are higher because the lender is taking on more of a risk.
• Caravan financing from a specialist lender. Several specialist lenders operate in this space. Remember to check the reputability of these lenders before you apply.

While caravans can be expensive, there are plenty of caravan loan products on the market. Compare them below and apply online.

How much can I borrow for my next caravan?

Use the caravan loan calculator below to calculate out how much you could borrow and what your repayments might be.

What types of caravans can I purchase?

The road you’ve chosen to travel notwithstanding, there’s a caravan out there that can make travelling on it a pleasure. Find out more about what types are available below.

• Full caravans

  A full caravan is a conventional caravan with a full height roof and solid walls. It doesn't require any kind of setting up or packing down. These caravans car vary significantly in size, and while smaller ones are single-axle, the larger ones are double-axle. Full caravans find favour with many because they’re ready to go at all times, they offer adequate storage, and they can offer suitable protection from harsh weather conditions. Apart from getting a full caravan with air conditioning, you can also find ones with kitchenettes and home entertainment systems.

• Pop top or pop-out caravans

  If you’re looking at keeping the size of your caravan small while towing, but want the benefit of extra space when required, getting a pop top or pop out caravan might be a good idea. These relatively small-looking caravans come with extra pop-out sections that you can use when you set up camp. The 'pop' can come out sideways, and some models even pop upwards to offer full height.

  While travelling, such a caravan gives you a clear view of the road behind you and the pop-out section gives you the luxury of extra sleeping or seating space. These are considerably smaller and lighter than full caravans, are normally more aerodynamic, and can lead to lower fuel costs. One drawback is that you have to deal with reduced space while driving, so you can’t take as much with you.

• Wind-up and out caravans

  Imagine a camper trailer turning into a caravan — this is essentially what a wind-up caravan does. Such a caravan extends quite like a pop-up caravan, but offers a significantly larger space. Such a caravan offers similar benefits as that of pop-out caravans, but their extra space can require more time to setup and pack down.

• Teardrop trailers

  The main reason behind the popularity of teardrop trailers is that they are easy to tow. You can tow one using a sports car, a small classic car and even a trike. These small trailers are ideal for light travellers, and they come with very basic equipment in terms of bedding as well as cooking.

• Fifth wheeler caravans

  A typical fifth wheeler caravan is larger than a traditional full caravan. It also offers more a higher level of luxury and many view them as mobile homes. For instance, fifth wheeler caravans tend to make use of real furniture as opposed to fixtures. Such a caravans come without a conventional caravan hitch, so you have to articulate a towing connection on its bed, and to tow one you require a ute or a pickup truck. One drawback is that a fifth wheeler caravan is classified as a Big Rig. This means you cannot access all campsites and roads, so you'll require meticulous planning for your trip.

• RV or motorhome

  An RV (recreational vehicle) is another name for a motorhome, and this is essentially a caravan that also doubles up as a vehicle. A motorhome does not require any setting up; you can simply decide to leave, pick your keys and leave. They can offer extra space in the form of pop-out sections and can come with a variety of equipment and fixtures. The size of an RV can be a drawback at times, especially if you want to go sightseeing. One option is to tow a small car with your RV, but you need to establish if it’s worth the trouble.

How should you compare your caravan loan options?

• Find out the interest rate. The lower the interest rate, the lower you'll pay on top of your borrowed amount. Interest rates for caravan loans tend to be quite competitive. Decide whether a fixed or variable interest rate is right for you and go from there.
• Check the fees. Fees to look out for include application fees and ongoing service fees. With a fixed loan you're also more likely to experience early repayment fees.
• Will the loan be secured or unsecured? Unsecured loans can have less risk for yourself but they often have higher fees to compensate.
• Are you given flexible repayment options? Most caravan loans tend to have flexible loan repayments but some are better than others. Look at whether they offer fortnightly or monthly repayments, if you can pay by BPAY or direct debit, whatever works for you.
• See what loan terms are on offer. The term lengths of caravan loans vary depending on which financial provider you go with. The amount of money you borrow will influence the term length but it’s also recommended you have a rough idea of how long it will take you to repay the loan before agreeing to anything.

What to avoid with a caravan loan

• Watch out for over-committing to a high loan amount. Ensure that you're not borrowing more than you can afford to pay back. It's important to not get yourself into too much debt.
• Any hidden surprises in your contract. Just like with any other loan, you will be required to commit to a contract. Make sure you carefully read through your contract before committing to it so you aren’t hit with any unexpected charges

Compare caravan financing options

• Caravan loans
• Other options

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
loans.com.au - New/ Demo Caravan Loan Special (Variable) Variable3 - 7 Years $5,000 - $100,000	Interest Rate (p.a.) 6.74%	Comp. Rate (p.a.) 7.86%	Application Fee $400	Monthly Fee $8	Monthly Repayment $635.47	Go to siteMore Info Compare
OurMoneyMarket Secured Personal Loan ($5,000-$75,000) Fixed1 - 7 Years $5,000 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $622.82	Go to siteMore Info Compare
Stratton Finance Caravan Loan Fixed1 - 5 Years $10,000 - $200,000	Interest Rate (p.a.) 6.72% to 18%	Comp. Rate (p.a.) 7.23% to 18.5%	Application Fee $700	Monthly Fee $8.90	Monthly Repayment $645.41	Go to siteMore Info Compare	You'll receive a fixed rate from 6.72% p.a. based on your risk profile Borrow from $10,000 to $200,000 and use to finance a caravan, camper trailer or a motorhome. Get access to a range of lenders.
loans.com.au - Variable Rate Used Caravan < 5 years Variable3 - 7 Years $5,000 - $100,000	Interest Rate (p.a.) 8.24%	Comp. Rate (p.a.) 9.35%	Application Fee $400	Monthly Fee $8	Monthly Repayment $649.52	Go to siteMore Info Compare

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan Fixed18 Months - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.75% to 26.95%	Comp. Rate (p.a.) 6.75% to 26.95%	Application Fee $0	Monthly Fee $0	Monthly Repayment $615.26	Go to siteMore Info Compare	You'll receive a fixed rate between 6.75% p.a. and p.a. based on your risk profile Borrow from $5,000 to $7,999 with loan terms between 18 months and 3 years or borrow $8,000 to $50,000 with loan terms between 18 months and 7 years.
Harmoney Unsecured Personal Loan Fixed3 - 7 Years $2,000 - $70,000	Interest Rate (p.a.) 5.76% to 24.03%	Comp. Rate (p.a.) 6.55% to 24.98%	Application Fee $575	Monthly Fee $0	Monthly Repayment $623.7	Go to siteMore Info Compare	You'll receive a fixed rate between 5.76% and based on your risk profile. Apply for a loan up to $70,000 and repay your loan over 3, 5 or 7 years terms.
OurMoneyMarket Unsecured Low-Rate Personal Loan ($5,000-$75,000) Fixed1 - 7 Years $5,000 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $450 min. $250	Monthly Fee $0	Monthly Repayment $622.82	Go to siteMore Info Compare
NAB Personal Loan Unsecured Variable Rate Variable1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.88% to 21.78%	Application Fee $250	Monthly Fee $15	Monthly Repayment $654.15	More Info Compare	You'll receive a variable rate between 8.49% p.a. and p.a. (9.88% p.a. to p.a. comparison rate) based on your risk profile Borrow from $5,000 to $55,000, with 1 to 7 year loan terms available. This loan comes with no fees for extra repayments and no early exit fees.

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Our expert says

"If you're buying a caravan, sorting out your finance is important but it's not the only thing you have to think about! And like you can save hundreds, if not thousands, of dollars by comparing loan products, the savings don't stop there.
Don't forget to compare caravan insurance too, as this could save you even more money and also ensure you are covered should anything happen to your new van."

Rebecca Pike

Senior writer

Can I get a caravan loan if I'm retired?

Caravan loans are available to people in various financial situations, including pensioners. However, lenders differ on their eligibility criteria. Lenders usually have minimum income requirements and consider certain forms of income, so lenders offering caravan loans to pensioners may consider the age pension or super payments as income, or even consider income from rental payments. More specific information is provided in the table at the bottom of the page.

To get your application across the line, provide as much detail and documentation on your income streams and finances as possible.

How to start your application for caravan loans

The first thing to do is compare personal loans and vehicle loans to find the right finance option for you.

Once you've found your lender, you can usually submit an application online. Make sure you have all the relevant information and documents with you that you might need, such as personal details, employment and income information, and vehicle details for a secured loan.

Most lenders now have complete digital capabilities, but the lender will let you know if there are any extra steps they need.

Am I eligible for a caravan loan?

Typically, to be eligible for caravan finance you must:

• Be at least 18 years of age
• Have a good credit score
• Be employed or self-employed
• Be an Australian citizen or permanent resident or (depending on the lender) be on an eligible visa

What documents will I need for my caravan loan?

You might need:

👉🏼 Drivers licence
👉🏼 Medicare number
👉🏼 Payslips or proof of income
👉🏼 Confirmation of your address
👉🏼 Vehicle details for a secured loan

What criteria do I need to consider when I'm applying?

Checklist for buying a camper trailer

The "different strokes for different blokes" saying holds true even when it comes to camper trailer shopping, given that just about every camper has unique requirements. Find out what aspects need your attention:

• Chassis. The chassis of a trailer plays a crucial role in holding it together, and for increased life look for a chassis made using high-quality materials. If you plan to carry heavy loads of if you're thinking about driving off-road, look for an extra strong chassis.
• Suspension. Suspension springs should be strong enough to take the weight of the trailer as well as of the load that it carries. Make sure you pay heed to their condition at the onset, and find out if they're suitable for off-road driving.
• Tailgate and doors. Remember to check all seals, not just on the doors and the tailgate but also on all compartments and even the tool box to avoid damage from water and rust.
• Towing. The towing coupling should have enough strength to take the camper trailer's weight as well as all that it carries. For off-road driving, getting a coupling that turns 360 degrees is ideal. In addition, consider getting snatch points at the trailer's rear section.
• Protection. Camper trailers tend to flick up stones from time to time, and this can even happen on paved roads. Some trailers work in deflecting these stones by using built-in stone guards, and some come with shade cloth attachments to bridge the gap between the trailer and the car.
• Tyres. If you can manage to get the same set of tyres on your trailer as on your main vehicle you can look forward to a smoother drive.
• Trim. The canvas your camper trailer uses should be durable, given that it provides shelter, but remember that lightweight canvas is quicker and simpler to set up. Check for waterproofing and mildew-proofing of all canvas and awnings, and make sure they don't have any holes.
• Bedding. Ensure there's enough room for everyone who might use your trailer, and don't hesitate to take measurements of bedding if it looks small.
• Possible add-ons. While the list of add-ons can be very long, most camper trailers tend to include water tanks, jockey wheels, and awnings, so it makes sense to look for these in your purchase.

Frequently asked questions about caravan loans

• Do I need to pay stamp duty for my caravan?

  Generally, caravans are exempt from stamp duty, but you’ll need to confirm this with your Office of State Revenue as it is dependent on the state you live in.

• Can I get pre-approval on my caravan loan?

  The majority of lenders will offer you pre-approval on your caravan loan. This can help your bargaining power when dealing with the sales manager when buying your next caravan

Written by

Matt Corke

Head of Publishing Ventures

Matt Corke is Finder’s head of publishing ventures. Prior to this he was head of publishing for Australia, New Zealand and emerging markets. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time, he has survived the dot-com crash and countless Google algorithm updates. See full bio