Life’s too short not to enjoy your weekends and holidays. Whether you dream of cruising on a Harley, exploring the open road in a caravan or hitting the water in a boat or jet ski, a leisure loan can help you get there. With affordable finance and flexible repayment options, you can spread the cost of your recreational vehicle and start enjoying it sooner.
What is leisure finance?
A leisure loan is a type of finance that allows you to purchase a recreational vehicle while spreading the cost over time with regular repayments.
Loans can be secured against the asset or unsecured if needed, with flexible amounts from $5,000 up to six figures available and terms and rates tailored to your situation.
You can apply for a loan to cover a range of leisure purchases, including:
As long as it meets your lender’s requirements, any brand or model can be financed, giving you flexibility to choose the vehicle that suits your lifestyle.
Why apply for a leisure loan with Savvy?
Leisure finance rates
As of September 2025, the lowest leisure finance interest rates available through Savvy are as follows:
Note that the rate for each type of asset isn't necessarily equal. For example, caravans will typically be financed for a far lower rate than the likes of a jet ski. However, every lender treats each type of leisure loan slightly differently, which might mean that while they are the cheapest financier for an RV they might be an expensive lender for a marine vessel.
How much do people borrow for leisure loans?
The amount people borrow depends heavily on the type of leisure vehicle they are purchasing. Our data shows that motorbikes attract the lowest average loan at $18,478, while boats sit at the top at $73,579 – almost four times more. Jet skis and caravans fall in between, with average loan sizes of $22,837 and $51,101 respectively, reflecting a wide range in borrowing needs.
Taken together, the average leisure vehicle loan through Savvy across all types is $41,499.
What will my leisure loan cost me?
The cost of your leisure loan depends on a variety of factors, including:
- Type of leisure vehicle: different vehicles attract different interest rates. For example, motorbikes often have higher rates due to higher risk and faster depreciation, while caravans may qualify for lower rates as they tend to hold value better.
- New or used: new vehicles often qualify for lower rates because they’re seen as lower risk for lenders, while used vehicles can attract higher rates as they typically have a lower resale value and a greater risk of issues.
- Secured or unsecured: secured loans use the vehicle as collateral, meaning lenders can repossess the vehicle to recover losses if you default. This lowers the risk and usually means cheaper rates than unsecured loans.
- Your personal profile: lenders will assess your credit history, income and financial stability to decide how risky it is to lend to you. A strong profile means lower rates, while a poor credit score or unstable income can push rates higher.
- Fees and charges: charges such as application, account-keeping or early repayment fees add to the overall cost.
To give you an idea of what a leisure loan could cost, let’s look at some examples of popular models for each leisure vehicle type, with repayments calculated for a new vehicle over a five-year term at the cheapest rates currently available for each type through Savvy.
Yamaha YZF-R7LA
| Price | Interest rate | Monthly repayment | Overall interest | Total cost |
|---|---|---|---|---|
| $15,500 | 6.45% p.a. | $303 | $2,675 | $18,175 |
|
$15,500 |
|
6.45% p.a. |
|
$303 |
|
$2,675 |
|
$18,175 |
Sea-Doo GTR 23
| Price | Interest rate | Monthly repayment | Overall interest | Total cost |
|---|---|---|---|---|
| $22,500 | 6.48% p.a. | $440 | $3,902 | $26,402 |
|
$22,500 |
|
6.48% p.a. |
|
$440 |
|
$3,902 |
|
$26,402 |
Ezytrail Winton 13 MK2
| Price | Interest rate | Monthly repayment | Overall interest | Total cost |
|---|---|---|---|---|
| $42,000 | 5.99% p.a. | $812 | $6,707 | $48,707 |
|
$42,000 |
|
5.99% p.a. |
|
$812 |
|
$6,707 |
|
$48,707 |
Quintrex 500 Cruiseabout
| Price | Interest rate | Monthly repayment | Overall interest | Total cost |
|---|---|---|---|---|
| $60,000 | 6.48% p.a. | $1,173 | $10,404 | $70,404 |
|
$60,000 |
|
6.48% p.a. |
|
$1,173 |
|
$10,404 |
|
$70,404 |
Note: These figures are estimates only and exclude additional costs such as fees and insurance.
Calculate your leisure loan repayments
Your estimated repayments
$98.62
| Total interest paid: | Total amount to pay: |
| $1233.43 | $5,143.99 |
Is leisure finance different to a personal loan?
While leisure loans fall under the broader category of personal finance, they are distinct from standard personal loans.
Leisure finance is specifically designed for purchasing recreational assets such as boats, caravans, jet skis or motorbikes. These loans are usually secured (though unsecured options also exist), with the asset serving as collateral, and the funds are generally paid directly to the seller or dealer to complete the purchase.
Personal loans, on the other hand, are generally unsecured and provide the borrower with a cash lump sum that can be used at their discretion, for purposes such as debt consolidation or home improvements.
Are leisure loans more expensive than car loans?
Yes – while the loans are structured in much the same way, leisure finance rates are usually higher than those offered on car loans. This is because lenders see leisure vehicles as non-essential purchases that carry a higher risk of damage or loss. They can also be harder to sell, with fewer buyers and less predictable resale values, which increases the lender’s risk and, in turn, the cost of the loan.
As of September 2025, Savvy has car finance rates starting from 5.85% p.a. The best rate available for leisure loans begins at 5.99% p.a.
You can see the difference in what you’d expect to pay with each type loan using these rates in the following table for a $30,000 loan over five years:
| Loan type | Interest rate | Monthly repayments | Total interest | Total cost |
|---|---|---|---|---|
| Car loan | 5.85% p.a. | $578 | $4,674 | $34,674 |
| Leisure loan | 5.99% p.a. | $580 | $4,791 | $34,791 |
The above rates are for illustrative purposes only and do not necessarily reflect the rate you will be
offered on your leisure or car loan.
While the examples show only a small difference in cost between loan types, these are based on the cheapest rates available. In practice, your repayments may be higher depending on your credit profile, the lender you choose and the type of vehicle you’re financing, with assets like motorbikes and jet skis typically attracting even higher rates.
