What is a caravan loan?
A caravan loan is a personal loan that can be used to finance the purchase of a caravan, camper trailer, or motorhome.
How do caravan loans work?
Caravan loans work much the same as standard personal loans. You’ll agree to borrow a certain amount of money to buy the caravan, and repay that sum–plus interest–in regular repayments over a set period of time.
Your loan will either charge a fixed or variable interest rate, plus certain fees, often for setting up the loan or to cover its ongoing admin costs.
The personal loans in the table above are unsecured. An unsecured loan doesn’t require an asset to be tied to it and will often charge a higher interest rate as a result.
When financing a newer caravan purchase, you might also be able to take out a secured loan, which would see you use an asset (like the caravan you’re buying) as security against the loan. By doing so, you’ll generally receive a lower interest rate, but it means the lender can repossess the security if you default.
Who has the best caravan loans in Australia?
There’s no one ‘best’ caravan loan provider – the best loan for you will depend on your financial circumstances, needs, and personal goals.
To work out what the best caravan loan is for you, ask yourself:
- How much do I need to borrow?
- How soon do I need the money?
- How much can I afford in repayments?
- How long would I be willing to be in debt for?
- Can I fulfil a lender’s eligibility criteria (minimum income, residency status, credit score threshold)?
- Are there any alternative credit or finance options available to me (like using your savings or accessing equity in your home)?
You can also use Canstar's personal loan calculator to get an idea of what your repayments could be and how the interest rate, loan amount, or term length could impact your budget.
Once you know what you’re after, use the comparison table above to compare a variety of caravan loan options from our Online Partners. Use the table’s filters to narrow down available options to those that best suit your needs.
You can also click the ‘GET RATE ESTIMATE’ button at the top of the page to find loan products you’re likely eligible for. Simply provide information on how much you want to borrow, your ideal loan term, the purpose of the loan, your employment, residency, and residential status, and either connect your credit score or estimate your band. If you’re unsure of your credit score, you can check it for free with Canstar or via the Canstar App.
How to compare caravan loans
When choosing a caravan loan, think about:
- Is the interest rate fixed or variable? With a fixed rate, your interest rate and repayments will stay the same for the life of the loan. With a variable rate, the amount of interest you pay can go up or down and the size of your repayments can vary.
- What’s the comparison rate? A personal loan’s comparison rate represents the cost of interest and most upfront and ongoing fees and charges. It can give you a better idea of the total cost of the loan each year.
- What are the fees? Personal loan fees can include establishment, monthly service, missed payment, extra repayment, and early repayment fees.
- What’s the loan duration? A loan with a longer duration will have lower weekly, fortnightly, or monthly repayments, but will usually charge more in interest overall.
- What features are available? Some lenders offer features like unlimited free extra repayments, or a redraw facility attached so you can access extra repayments if you need to.
Read any terms and conditions carefully and consider the loan’s documentation like the Key Facts Sheet and Product Disclosure Statement (PDS) before signing up.
Am I eligible for a caravan loan?
Caravan loans have similar eligibility requirements to regular personal loans. You’ll need to:
- Be at least 18 years or older
- Be an Australian citizen or permanent resident
- Be employed or have a steady source of income to repay the loan with
- Have a good credit history
Some providers may have additional eligibility requirements, such as a minimum income or particular credit score.
How to apply for a caravan loan
Most caravan loan lenders have an online application form on their website. To apply for a caravan loan, you’ll need to hand over information such as:
- Photo ID like a driver’s licence or passport and supporting documents like your Medicare or bank card.
- Proof of income, typically in the form of payslips or your annual tax return.
- Proof of savings, bank statements typically work.
- Your employment details for the past three years.
- A list of any assets you own, including vehicles and property.
- A list of debts you already have, such as other personal or home loans, credit card debts and credit limits, and outstanding buy now pay later (BNPL) balances.
- A list of your general living expenses, including groceries, utilities, streaming services, rent, medical and transport costs, and education fees.
You may not need to provide all of this information, but it’s good to have on hand just in case.






































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