Caravan Loan
Found the caravan? If the tow bar is on the car and the driveway is measured up, the hard thinking is done, and the money is the quick part. With clean credit, a caravan loan can be wrapped up in as little as an hour.
- Pre-approval in a day
- An obligation-free rate quote
What to expect
Line up the van
Apply online once you know the caravan you want and the amount to finance, whether it sits on a dealer's lot or behind a private seller's fence with a hand-painted sign.
A soft check goes first
The opening check is a soft one that does your credit score no damage, and the application is read the same day it lands.
Weighed by more than 40 lenders
Your application is run against each lender's criteria across a panel more than 40 strong, and the plan for the van, lived in full time or towed out for the holidays, steers which lender fits best.
Sign, and hitch up
Approval puts the costs and conditions in writing, the documents are signed electronically at the kitchen table, and the seller is paid directly, so all that is left is backing the car up to the coupling.
With clean credit, a caravan loan can be finished in as little as an hour.
Put numbers on the repayments
Your repayment
*These repayment figures are a guide only; lending criteria and terms and conditions apply.
Pop tops to full family vans
Buying a caravan is not like buying anything with its own engine. The car you already own does the driving, the van follows on the tow bar, and what suits you hangs on questions no motorhome buyer asks: what the car can comfortably pull, where the van will stand between trips, and whether the driveway takes a full height van or calls for a pop top.
The other difference shows up at the holiday park. Once the van is level and the awning is out, the car unhitches, and the rest of the week's driving happens without towing the accommodation along behind it. A motorhome owner never gets that trade; a caravan owner makes it every trip.
On the money side this is familiar territory. Helping secure a loan for a new caravan draws on experience financing all types of vehicles and personal assets, secondhand vans included, and if the right van itself is proving elusive, there are multiple dealers throughout the country to call on.
Pop tops and compact vans
Full family vans
Touring vans
Would you qualify?
The boxes to tick
- You are over 18; between 18 and 21, plan on a parental guarantor.
- Your income, from full-time work or self-employment, comfortably covers the repayments.
- You hold a full or restricted licence free of condition 1; learner drivers need clean credit and to be past 21.
- The van can be insured and your identity verified, since insurance and an AML check come standard with an approval.
Less than perfect credit is not the end of the conversation. A broker works without a set criteria sheet, so one call is enough to name the lenders that would look at your position and the rate band to expect. If another lender has already said no, mention where, because it shortens the road to an answer.
Questions before the form? Sam is on the other end of 0508 662 456.
Caravan loan questions
Can we finance a caravan we plan to live in?
Yes. A van lived in full time sits with different lenders than one towed out for long weekends, and both are catered for, so say which yours will be on the application and the search starts with the right lender.
What exactly is in a pre-approval?
A confirmed offer of finance: the interest rate, the repayments and any conditions, set out in writing. Signed documents, an identity check for AML and insurance on the van are the standard conditions, and holding a pre-approval commits you to nothing.
Will asking about a rate mark our credit file?
No. The opening check is soft and leaves your credit untouched, and nothing harder runs until we have actually spoken.
What rate would a caravan loan sit at?
Caravan loans start from 7.45%, with credit history and the wider financial position deciding the final number. Ask for an indication with your application and it comes back by email or a call, and a handful of questions makes the estimate a sharp one.
Do we need a deposit saved first?
Not with clean credit, and there is no rate discount for paying one anyway. Deposits get asked for when credit has taken knocks, or when the van is older or at the expensive end of the market.
How fast does an approval actually land?
Applications go under review the same day, and one lodged before midday may have its approval before the hour is out. The fastest on record took 3 minutes, although that one deserves an asterisk.
Is any of it done on paper?
Almost none of it. The loan completes 100% online and electronically, nothing gets printed, hand signed or witnessed, and no part of settlement sits waiting in a mail queue.
If we trade up to a bigger van later, is this loan a problem?
No. Settling ahead of schedule costs from just $7 in fees, so when the family outgrows the pop top, this loan can close out cheaply and the bigger van can start on its own terms.
The answer costs nothing
The first thing that happens to an application is a soft credit check, nothing more, and a pre-approval leaves you free to walk away from the van and the loan alike.
Caravan finance is offered subject to lending criteria and the standard terms and conditions.