Caravan Loans

Your guide to getting the right caravan loan.

Lender Score
review star
review star
review star
review star
review star
4.3 out of 5 | 3,821 Reviews | 9 Lenders
Find the best Caravan Loans for you with Emu MoneyFind the best Caravan Loans for you with Emu Money

A quick guide to caravan loans

Caravan loans offer a way for you to finance the purchase of a caravan or motorhome, helping you and your family enjoy the freedom and adventure of the open road. These loans are typically structured as personal loans, with the caravan serving as collateral. Interest rates and terms vary, but they can be quite favourable due to the security provided by the vehicle. With a range of options available, it's important to consider your budget, preferred repayment period, and the overall cost of the loan to find the right one for your needs.

Here's what a caravan loans typically looks like:

eligibility orange tickBorrow from $5,000 - $100,000
eligibility orange tickLoan terms from 1 - 7 years
eligibility orange tickWeekly, fortnightly or monthly repayments
eligibility orange tickFixed interest rates from 6.50%
eligibility orange tickVariable interest rates from 7.95%
eligibility orange tickInterest rate tailored to your situation

What can I use a caravan loan for?

A caravan loan can be used primarily to purchase a new or used caravan, camper van, or motorhome. It can also be used to finance a trailer or other recreational vehicle. In addition, some lenders may allow you to use part of the loan to cover associated costs like insurance, registration, maintenance or upgrades to the caravan.

Here are some common reasons people take out a caravan loan:

New Caravan Purchase

A caravan loan can be used to finance the purchase of a brand new caravan, allowing you to enjoy the latest features and amenities.

Used Caravan Purchase

Used caravans can be more affordable than new ones. A caravan loan can help you purchase a used caravan that fits your budget.

Caravan Upgrade

If you already own a caravan and wish to upgrade certain aspects like the kitchen, bathroom, or sleeping areas, a caravan loan can help cover these costs.

Emergency Repairs

Unexpected repairs can be costly. A caravan loan can help you manage these costs, ensuring your caravan remains safe and functional.

Off-Road Caravan Purchase

If your adventures take you off the beaten path, a caravan loan can help you buy a specialised off-road caravan.

Luxury Caravan Purchase

For those seeking a caravan with high-end features and superior comfort, a caravan loan can finance the purchase of a luxury caravan.

Caravan Refurbishment

Caravan loans can fund a refurbishment project to modernise an older caravan and increase its comfort and value.

Accessory Purchase

From awnings to solar panels and battery systems, a caravan loan can help you purchase accessories to enhance your caravan lifestyle.

Insurance Premiums

A caravan loan can help cover the cost of insurance premiums, providing peace of mind for your travels.

Tow Vehicle Upgrade

If you need to upgrade your tow vehicle to handle a larger caravan, a caravan loan can help cover these costs.

Ready to run the numbers?

Calculate your repayment estimates and more.

How much can I borrow for a caravan loan?

The exact amount you can borrow for a caravan loan in Australia can vary widely, typically ranging from around $5,000 up to $100,000 or more, depending on several factors. Your individual financial circumstances, such as your income, credit score, and existing debts, play a significant role in determining the loan amount you can be approved for. The type of caravan you're interested in purchasing will also influence the loan amount. New, luxury or larger caravans will generally require a larger loan than used or smaller models. In addition, the terms set by the lender are another key element in the borrowing equation.

Each financial institution has its own lending criteria, including minimum and maximum loan amounts. Secured caravan loans, where the loan is secured against the caravan itself, often allow for higher borrowing limits given the lower risk to the lender. However, it's crucial to remember that although you might be eligible for a high loan amount, you should only borrow what you can comfortably afford to repay. Consider your existing financial obligations and your future repayments before finalising the loan amount. Also, factor in the ongoing costs associated with owning and maintaining a caravan.

Caravan Loan Repayment Calculator

To estimate your monthly repayments and the total cost of the loan, input the loan amount, loan term and interest rate into the calculator below. This helps you plan your budget and choose the most suitable loan terms.

Loan Amount
Establishment Fee
Loan Term (Years)
Interest Rate
Total amount to repay
Your repayments

Balance over time

Am I eligible for a caravan loan?

Lenders consider several factors when assessing your eligibility, including your credit score, income, debt-to-income ratio, age, residency, and required documentation. While meeting the eligibility criteria doesn't guarantee loan approval, having a good credit score, stable income, and a positive financial profile significantly improve your chances.

You are eligible to apply for a caravan loan if you are:

eligibility orange tickOver the age of 18; and
eligibility orange tickAn Australian citizen or permanent resident; and
eligibility orange tickHave a regular source of income, that is enough to meet the repayments

How to apply for a caravan loan?

Applying for a caravan loan is easy and only takes a few minutes. Get started by filling out some basic information into our application form. We’ll review your information, and someone will be in contact with you to discuss the best option for you from over 40+ Australian lenders.

If you’re eligible for a caravan loan, and you are happy with the initial quote, you will need to prepare documents such as:

eligibility orange tickPassport or drivers licence
eligibility orange tickProof of income and expenses (e.g. payslips, bank statements)
eligibility orange tickDetails of any current debts or other loans

Ready to get started?

Compare over 40+ lenders with one application.

How to get the best caravan loan for you?

When searching for a caravan loan, it's essential to understand the different factors to find the best fit for your needs. From interest rates and fees to loan terms and early payout options, each factor can increase or descrease the total amount you will repay.

Interest Rate

When it comes to obtaining a caravan loan, one of the key factors to consider is the interest rate. The interest rate directly affects the overall cost of borrowing and your monthly repayment amount. It's crucial to compare interest rates from different lenders to ensure you secure a competitive rate that aligns with your financial goals and helps you save on interest expenses over the loan term. Keep in mind that interest rates can vary based on factors such as your creditworthiness and the lender's assessment of risk.


In addition to the interest rate, it's important to evaluate the fees associated with caravan loans. These fees may include application fees, origination fees, processing fees, and ongoing maintenance fees. By carefully understanding the fee structure of different lenders, you can choose a loan with transparent and reasonable fees. Evaluating both the interest rate and fees will help you determine the overall cost of the loan and ensure you minimize costs throughout the loan duration.

Comparison Rate

When comparing caravan loan options, considering the interest rate alone is not enough. The comparison rate provides a more comprehensive understanding of the true cost of the loan. It incorporates both the interest rate and any additional fees associated with the loan, giving you a clearer picture of the total cost of borrowing. By comparing comparison rates from different lenders, you can make more informed loan comparisons and select the option that offers the best overall value.

Loan Term

The loan term, or the duration of repayment, is an essential aspect to consider when obtaining a caravan loan. Shorter loan terms generally result in higher monthly payments but lower overall interest costs, as the loan will be repaid in a shorter timeframe. Longer loan terms may offer lower monthly payments but could result in higher interest expenses over the life of the loan. It's crucial to assess your financial situation and determine the loan term that aligns with your ability to comfortably make repayments while minimizing interest costs.

Early Payout

Flexibility in loan repayment is valuable when considering a caravan loan. Early payout options allow you to repay the loan before the agreed-upon term without incurring penalties or additional charges. This flexibility can be advantageous if you come into unexpected funds or wish to reduce interest expenses. Before finalising a caravan loan, review the terms and conditions to ensure that early repayment is possible and to understand any potential limitations or conditions that may apply.

Balloon Payment

Some caravan loans may include the option for balloon payments. A balloon payment is a larger lump-sum payment due at the end of the loan term. While balloon payments can reduce monthly repayment amounts, it's important to carefully consider their implications. Ensure that you will have the necessary funds available to make the balloon payment when it becomes due. Balloon payments can be a suitable option if you anticipate having the funds or plan to refinance the balloon payment at the end of the loan term. However, it's crucial to fully understand the impact of balloon payments on your overall financial strategy.

Find the best Caravan Loans for you with Emu MoneyFind the best Caravan Loans for you with Emu Money

Frequently Asked Questions

Still have questions about caravan loans?

These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.

Can I use a caravan loan for used caravans?
What can a caravan loan be used for apart from purchasing the caravan?
Are there caravan loans for pensioners or retirees?
Can I get a caravan loan if I’m buying privately?
What is the interest rate on a caravan loan?
How long does it take to get approved for a caravan loan?
Can I pay off my caravan loan early?
Are caravan loans secured or unsecured?
Can I get a caravan loan with bad credit?
What happens if I can't repay my caravan loan?
Can I get a caravan loan if I'm self-employed?
How does a caravan loan affect my credit score?