04 September 2025
Fact Checked

Caravan Finance and Motorhome Loans

Explore low-rate RV finance for caravans, motorhomes and camper trailers.

100% free. No impact on your credit score.

Caravan Finance and Motorhome Loans

How to apply for your leisure loan with Savvy

Applying for a leisure loan with us is straightforward.

1

Online quote

First, tell us what you want to buy and about your personal situation.

2

Talk to your broker

They’ll call you to talk through your leisure finance options.

3

Submit for approval

Your broker will submit your application for formal assessment.

Easy as 1. 2. 3. Get approved today!
Caravans parked in a national park

Caravans are big business in Australia. In 2024, Australians took 15.2 million domestic overnight trips involving caravans or camping – nearly one in every eight overnight trips.

Whether you’re a seasoned traveller or just getting started, securing the right finance is key to getting the RV you need. With Savvy, you can compare competitive loan options from our panel of trusted lenders to find a deal that suits your needs and keep money in your pocket to spend on your caravaning adventures.

How do caravan loans work?

A caravan loan lets you finance your caravan, motorhome or other recreational vehicle with affordable, structured repayments, helping you spread out the cost of your purchase over time. 

At Savvy, we work with an extensive panel of lenders to find finance options that suit your individual needs. Here’s what you can expect when arranging a caravan loan through us: 

  • Secured or unsecured: you can use your RV as collateral, potentially qualifying you for lower interest rates, or take out an unsecured loan if your vehicle doesn't meet the criteria.
  • Flexible purchase options: as long as the RV meets your lender's requirements, you can buy new or used, from a dealer or private seller.
  • Loans from $5,000: borrow from as little as $5,000 up to the full purchase price of your caravan.
  • Cover additional costs: your loan can cover more than just the caravan, including
    registration, insurance and accessories for the vehicle like towing equipment.
  • No deposit required: there’s no need to pay anything upfront or dip into your savings to secure your RV.
  • Competitive interest rates: we work with a broad panel of lenders offering highly
    competitive rates, helping you secure a loan that fits your budget.
  • Transparent fees: we’re upfront about any fees you’ll need to pay and will clearly
    outline any additional costs and charges so there are no surprises.
  • Flexible repayment terms: you can choose a repayment term between one and seven years, providing the flexibility to tailor repayments around your budget and goals.

Why apply for a leisure loan with Savvy?

Have the hard work done for you

Once you tell us about yourself and the loan you're after, we'll compare offers for you and prepare your formal application.

Trusted lender panel

We're partnered with some Australia's leading lenders to bring you a range of competitive offers to compare in one place.

Award-winning service

We're a Platinum Trusted Service Award winner with Feefo and our rating of 4.9 stars our of 5 shows our customers' satisfaction.

Caravan finance rates

Below are some of the best caravan loan rates available from our panel of lenders as of September 2025. Keep in mind that your final rate will depend on factors like your credit score, the type of caravan you’re buying and the loan term you choose.

Loan amount $5,000 - $130,000
Interest rates from 5.99 % p.a.
Comparison rates from 7.05 % p.a.
Loan amount $5,000 - $250,000
Interest rates from 6.39 % p.a.
Comparison rates from 7.41 % p.a.
Loan amount $5,000 - $250,001
Interest rates from 6.45 % p.a.
Comparison rates from 7.20 % p.a.
Loan amount $5,000 - $65,000
Interest rates from 6.45 % p.a.
Comparison rates from 7.38 % p.a.
Loan amount $1,500 - $200,000
Interest rates from 6.48 % p.a.
Comparison rates from 7.24 % p.a.
Loan amount $5,000 - $100,000
Interest rates from 6.49 % p.a.
Comparison rates from 7.42 % p.a.
Loan amount $5,000 - $62,000
Interest rates from 6.54 % p.a.
Comparison rates from 7.47 % p.a.
Loan amount $5,000 - $250,000
Interest rates from 6.59 % p.a.
Comparison rates from 7.01 % p.a.
Loan amount $5,000 - $110,000
Interest rates from 6.69 % p.a.
Comparison rates from 7.49 % p.a.
Loan amount $5,000 - $100,000
Interest rates from 7.59 % p.a.
Comparison rates from 8.01 % p.a.
Note: rates are calculated based on a $50,000, five-year caravan loan.
 

Caravan finance cost breakdown

When taking out finance, the total cost doesn’t just depend on the caravan’s purchase price. The interest rate also has a big impact, as well as any additional fees and charges. On average, customers arranging caravan finance through Savvy borrowed $51,100 with an interest rate of 11.19% p.a. However, how much interest you’ll pay depends on several key factors.

Your financial profile

When you apply for a loan, lenders will assess your financial profile to determine the interest rate you’re offered.

Your credit score is one of the biggest influences – the better your score, the lower your rate is likely to be. Lenders see borrowers with strong credit as lower risk, which means they’re more likely to offer competitive terms.

Even a small difference in rates can have a noticeable impact on costs. For example, on a $60,000 caravan loan over five years, an interest rate of 8% p.a. would mean around $12,843 in interest, while an 8.25% p.a. rate would cost about $13,270 – over $400 more.

Lenders will also consider:

  • Income: a steady income shows you can comfortably make repayments.
  • Employment: stable, long-term employment is viewed more favourably than casual or irregular work.
  • Living expenses: lenders check your day-to-day spending to ensure you won’t be overextended when taking on a loan.
  • Property ownership: owning property may strengthen your application, as it demonstrates asset backing and financial stability.

Loan type

An unsecured loan typically comes with higher rates than a secured one. This is because the lender has no collateral to fall back on if you can’t repay the loan. With a secured loan, the caravan itself (or another asset) is used as security, which lowers the lender’s risk. In an unsecured loan, there’s no asset tied to the finance, so the lender compensates for the higher risk by charging a higher interest rate.

To show how this can affect your costs, here’s a comparison of two five-year loans for the same $50,000 caravan – one secured, the other unsecured – for a borrower with a strong credit score.

  Secured loan Unsecured loan
Caravan price $50,000 $50,000
Interest rate 7.00% p.a. 10.00% p.a.
Monthly repayments $990 $1,062
Total interest $9,404 $13,741
Total to repay $59,404 $63,741
 
Estimates calculated using Savvy’s caravan loan repayment calculator. These figures don’t include fees or other costs.
 

As this example demonstrates, securing your loan with the caravan as collateral can lead to a noticeably lower interest rate, which adds up to thousands in savings over the life of the loan. Your monthly repayments can also be lower, even though you’re borrowing the same amount. If a secured loan is an option, it’s often the more cost-effective choice.

New vs used model

A new caravan used as security will usually qualify for a lower rate than a used one. Many of the new caravans we helped finance in 2024–25 qualified for interest rates below 7% p.a., while all models aged five years and older had starting rates above 9% p.a. – even for borrowers with an excellent credit history.

Here’s how new and used prices compare for some of the most popular caravan models in Australia, and the cost difference taking into account interest, over a five-year term, using the lowest available rates as of August 2025:

While new caravans often attract lower interest rates, their higher purchase price means larger repayments and more interest paid overall. By contrast, used caravans are cheaper to finance and can save you thousands, even if the rate is slightly higher – as long as you’re comfortable with an older model.
 
Aidan Visnjic - Savvy Personal Loans Expert

Securing funding for modifications to your caravan

"With caravan loans, consumers often want more than the base model by adding accessories to suit their needs. While this is possible, there may be a limit to what the lender allows under a secured loan. If it exceeds this limit, your finance can be structured to add some accessories via a separate unsecured loan, if you don’t want to wait to kit out your new caravan."

Aidan Visnjic, Savvy Personal Loans Expert
Aidan Visnjic - Savvy Personal Loans Expert
Aidan Visnjic
Savvy Personal Loans Expert

What types of RVs can I finance with a caravan loan?

You can finance a wide variety of RVs with a caravan loan, ensuring you find the perfect fit for your lifestyle
and travel preferences. These include:

  • Tent trailers
  • Camper trailers
  • Pop-up/pop-top caravans
  • Caravans
  • Slide-on campers
  • Fifth wheelers
  • Campervans (Class B RVs)
  • Motorhomes (Class A and Class C RVs)

You’re not limited to certain brands either and can finance everything from major names to niche makes. In 2024–25, the most popular caravan makes financed through Savvy were:

  1. Jayco
  2. MDC
  3. Ezytrail
  4. Austrack
  5. Majestic, Maverick, Mars and Newline

How to apply for your caravan loan with Savvy

  1. Apply online

    Tell us about yourself and the caravan you’re after.

  2. Provide documents

    Upload your paperwork to our secure portal.

  3. Discuss your options 

    We’ll compare offers and present you with the best caravan finance deal.

  4. Get approved

    Your consultant will prepare and submit your application.

  5. Sign and settle

    We’ll handle the settlement and you can collect your caravan!

 

What our customers say about their finance experience

Image 1 Image 2 Image 3 Image 4

Savvy is rated 4.9 for customer satisfaction by 153 customers.
Feefo logo

Caravan loan frequently asked questions

How can I find out if my caravan is under finance?

If you’re looking to buy a used RV, it’s important to make sure it’s not still under finance before signing. Instead of relying on the seller’s word, you can run a PPSR (Personal Property Securities Register) check for $2. You’ll need the caravan’s VIN (Vehicle Identification Number) to generate the report. This will show if there’s any money owing on the caravan, which could put it at risk of repossession. The report will also indicate if the caravan has been stolen or written off, helping you make an informed purchase. If you’ve ever purchased a used vehicle you might be familiar with the process.

Can I finance a caravan to live in?

No – caravan loans are generally intended for recreational or holiday use, not as a permanent home. Lenders are cautious about full-time living arrangements because it raises issues such as asset security and address verification. If a borrower defaults, the lender needs to be able to locate and repossess the caravan, which becomes difficult without a fixed residential address.

Can I buy a caravan for my business?

Yes – if you need a caravan or multiple RVs for your business, there are a range of finance options available, including chattel mortgages and leasing options. If you do buy a caravan for your business, keep in mind that it must be used primarily for business purposes, such as staff accommodation on worksites or a mobile office, You may also be able to claim tax deductions on interest, depreciation or lease payments for the business-use portion. 

Do I need to get insurance for my caravan or motorhome?

Yes – motorhomes and camper vans are classified as motor vehicles and must have Compulsory Third Party (CTP) insurance. Caravans and other non-motorised trailers will generally be covered by your car’s CTP insurance when attached, provided they are roadworthy.

While not mandatory, you can take out additional insurance for extra protection and peace of mind. On top of this, if you’re using your caravan, motorhome or camper trailer as security on your loan, comprehensive insurance is typically required by the lender.

Does the lender consider the vehicle I have to finance my caravan?

No – lenders generally won’t ask about the type of car you drive when deciding whether to approve caravan finance. Their focus is on the caravan you’re purchasing and whether you meet their requirements as a borrower. However, it’s worth thinking ahead, as you may also need to upgrade your car or arrange suitable transport if your current vehicle isn’t capable of towing it safely. 

Can I get a caravan loan with a balloon payment?

Yes – some lenders may offer caravan loans with a balloon payment, where a lump sum is due at the end of the loan term. This can reduce your monthly repayments, but you’ll need to plan ahead to cover the final payment. Balloon options aren’t always available, so speak with your consultant to see if it’s the right fit for you.