Caravan Loan Repayment Calculator
If you aren’t quite sure if you can afford a caravan, use our caravan finance calculator to see if a loan is within your reach.
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Knowing the cost of financing the purchase of your caravan, RV or camper trailer is a crucial first step in the loan process. It’s important not to overcommit financially or saddle yourself with a burdensome loan when there are other more affordable options available to you.
Using our handy caravan loan repayment calculator gives you a key understanding about the cost of taking out your preferred loan, as well as allowing you to compare other loans of different rates and lengths. Customise your calculation based on amounts, terms, rates, schedules and deposits. Start crunching numbers now and set yourself up to find the most suitable loan for your situation.
The benefits of sourcing your caravan financing with Savvy
Competitive interest rates
A competitive market breeds low rates, which you can enjoy across your loan term thanks to their being fixed to enable consistency and accuracy of budgeting.
Access 100% financing
Lenders are highly flexible when it comes to the amount you can be approved for, with your loan sum tied to the value of your van or trailer up to its purchase price (with on-road costs able to be bundled in where applicable).
Repay over one to seven years
Your loan term is wholly customisable to your needs. Whether you want to cut down on monthly repayments with a term up to seven years or maximise your overall savings with a loan as short as 12 months, you can do so with our lenders.
Select your repayment schedule
On top of this, you’re also afforded the opportunity to select the frequency at which you make your loan contributions, which can come either on a weekly, fortnightly or monthly basis to fit around your income needs.
Drive away in 48 hours
The nature of caravan financing means that the whole process is rapid from start to finish. From the point that you submit your quick quote to your lender sending the funds to your seller can take as few as 48 hours all up.
Choose a brand-new or used model
The level of choice doesn’t end at your loan options, either. You can choose your desired caravan regardless of whether it’s brand-new or a few years old, with models up to 15 to 20 years of age able to be accepted as security.
Repayable before its end date
You won’t have to stick to the script when it comes to completing your repayments, with many lenders allowing you to make contributions above the minimum required amount and complete your payments early without additional charges.
Optional deposits available
If you want to reduce the amount repayable with interest on your loan, as well as cut down on your monthly repayments, you can choose to make a deposit on your loan.
Why so many Australians choose Savvy for their caravan loan needs
Experienced and FBAA-accredited
As one of the longest-standing and most respected vehicle finance brokers, you can trust us to find the best deal for you.
Range of lenders across the country
Our lending partners stretch all throughout Australia to give you more options when it comes to comparing loan offers.
Consultants in your corner
Our friendly consultants work with you from start to finish to ensure that your application is as spotless as can be for your lender.
How to maximise your approval chances for caravan finance
Verifiable borrowing history
Because a caravan or similar model is likely to set you back a considerable amount of money, lenders will look to borrowers who have a demonstrable history repaying loans of a similar nature.
Those in this position come with a lower level of risk, as they’ve proven themselves disciplined enough to repay a sizeable loan debt in the past.
A good credit rating
In addition, a general positive record servicing debts plays a significant part in deciding your approval chances, which is what a good credit rating reflects.
Each time you make a payment on time, or pay above the minimum, it goes down as a positive mark in your credit file. Paying outstanding debts and lowering credit limits on cards are ways to improve your score if it’s not great right now.
Show a strong savings account
Backing your application up with developed savings also displays to your lender that you’re able to exercise financial discipline and can boost your approval chances.
Plentiful savings also serve as a safety blanket to continue repaying your loan should your income stream dry up. Owning property with or without a mortgage has a similar effect on your application.
Borrow within your means
You can boost the speed at which your application is processed by ensuring you only ask for an amount on terms that you can comfortably afford to repay.
Fortunately, you won’t have to worry too much about working this out yourself when you apply with Savvy: your expert consultant will run a calculation and let you know the maximum you’re likely to be approved for.
Maintain job and income stability
Lenders want to be sure that the loan they’re granting will be repaid in full, so a large part of ensuring this is the case is by working with borrowers whose employment is safe and consistent.
People with permanency and/or long-term consistency in their work hours are always preferred when it comes to caravan loans, as their income is less likely to disappear than others.
What type of RV or caravan is best?
This question is best answered with a question: what type of leisure vehicle does you or your family need? Here's a short sample of what's available.
- Full size caravans – the traditional mobile home, coming in various sizes and with various features.
- Recreational Vehicles or RVs are perfect for people who want to combine their vehicle with their living space. It has many modern conveniences, though it's extremely hard to park.
- Pop-top/pop-out or wind-out caravans – caravans that drive compact but extend outwards. Good for saving fuel, but you sacrifice storage space.
- Fifth wheeler caravans – the “big boss” caravans that offer ample space and creature comforts. Think Big Hollywood star or rock n' roll style caravans!
What our customers say about their finance experience
Savvy is rated 4.9 for customer satisfaction by 581 customers.
