Life is too short to not enjoy your free time. Whether you'd like a boat to go fishing, a Harley Davidson to
cruise or a caravan for weekend adventures, it can be secured with a leisure loan.
Leisure loans are fairly similar to car loans. The loan is secured to the asset (such as a boat) that you finance. That means the funds you've been approved for can only be used on that leisure item and your repayments go towards paying it off. Leisure finance is different to a personal loan. That means you can't take your approved finance and spend on whatever your heart desires.
Types of leisure loans
There's a few different items that are classified as leisure. They are most commonly:
If you're looking to secure finance for a more extreme toy such as a go kart or drag racing vehicle it's more likely to be classed as a personal or even business loan pending how you use it. The good news is Savvy can still assist you with financing for it.
Why apply for a leisure loan with Savvy?
Are leisure loans more expensive than car loans?
Yes – leisure finance rates are usually higher than those offered on car loans. As of August 2025, Savvy has car loan rates starting from 5.96% p.a. The best rate available for leisure loans begins at 6.19% p.a.
You can see the difference in what you’d expect to pay with each loan in the following table:
| Loan type | Loan amount | Interest rate | Loan term | Monthly repayments | Total cost |
|---|---|---|---|---|---|
| Leisure loan | $30,000 | 6.80% p.a. | Five years | $592 | $35,473 |
| Car loan | $30,000 | 6.00% p.a. | Five years | $580 | $34,800 |
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.
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Crunch the numbers
with our loan repayment calculator
Your estimated repayments
$98.62
| Total interest paid: | Total amount to pay: |
| $1233.43 | $5,143.99 |
