Caravan Personal Loan

A personal caravan loan is a loan that is not tied to the asset. Because of this, the amount you can borrow is usually less than if you were to take out a secured loan. It is basically a personal loan as there is no asset as security against the loan, unsecured loans often come with higher interest rates than secured consumer loans making the total cost of the loan more expensive.

An unsecured caravan loan usually comes with higher interest rates than a secured caravan loan. So why opt for an unsecured caravan loan?

Unsecured caravan loans are ideal for consumers wishing to purchase a caravan, who don't meet the lending criteria for caravan finance or are looking to purchase an older caravan.  

Personal loans for caravans fall into the personal loan finance product category.  Interest rates can vary depending on the lender criteria, your credit file, credit score, assets, and liabilities. Personal loan rates start as low as 6.99%*. While rates vary we have access to a large lender panel and are able to find you the best caravan personal loan rate to match your vehicle and credit profile. 

Personal loans do not fall under the realm of business finance and therefore offer no direct tax benefits. Unlike a secured loan, the finance is not tied to the asset and the money to pay for your caravan is deposited directly into your bank account. 

For full advice, we recommend speaking to your accountant or a professional financial advisor. 

To qualify for finance you need to:

• Be over 18 years old.
• Be an Australian citizen or permanent resident*
• Be currently employed**
• Earn at least $400 per week (after tax)
• Not be in an undischarged bankruptcy or part 9 debt agreement. 
  
  

  *We may be able to help if you have a visa with more than 2 years remaining.
  **Min 1-month permanent employment (full or part-time) with continuation of the same industry (probation periods may be considered) - Or 6 months casual employment.
  *** We may be able to help if you are employed full time and more than half of your bankruptcy period has passed.

Making an application is quick and easy. You just need to have the following documents ready to give to your broker:

• Current Australian Residency Identification 
• Two recent payslips
• One current bank statement 

Not if you are currently in bankruptcy or a Part 9 or 10 debt agreement. However, if you are discharged or more than half of your bankruptcy period has passed we can be able to assist you. Click here for an assessment that will not damage your credit score or call on 1800 2777 6899 and talk to one of our experienced brokers to find a solution. 

Yes, you can. If you are self-employed, you can borrow 100% of your caravan's purchase value and include extras such as insurance and extended warranties.