Caravan Finance

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Frequently asked questions

Caravan Loans Explained

Everything you need to know about caravan loans. No question is too big or too small. We're here to help you find the right solution for your needs.
What documents do I need to apply for a caravan loan?
When applying for a caravan loan you will typically require

2 Forms of identification, such as a Drivers licence and Medicare Card

Proof of income via 2 x most recent payslips or 90days bank statements

Rates Notice or Rental Agreement if you are a homeowner or renter

These are the basic document requirements for most lenders to assess your application.
What is the difference between a caravan loan and a personal loan?
Caravan Loan

A caravan loan is a secured loan used for purchasing a caravan, with the caravan being used as security, resulting in lower interest rates and the possibility of repossession if payments are missed. Our panel of lenders can offer caravan loans with loan terms ranging from 12 months to 84 months, depending on the vehicle's age, cost, and km travelled.

Personal Loans

A personal loan is unsecured, offering greater flexibility for various loan purposes, including car purchases, but an unsecured personal loan will normally have higher interest rates due to there being no asset being used as security. Personal loans normally have loan terms that vary between 12 months and 84 months. The choice between the two depends on your individual needs and circumstances. Car loans might be cheaper over time and personal loans provide funding flexibility without requiring collateral, but this can come at the cost of higher interest rates. Credit scores significantly influence the conditions of both secured and unsecured loans. It’s essential to weigh the total loan costs and asset risk before deciding between the two.
Will applying for quotes impact my credit score?
When speaking with one of our lending specialists to obtain a quote for caravan loan repayments, there is no impact on your credit score. Whether you are applying for a secured loan or an unsecured loan, we only ever make soft touch inquiry that will have no impact on your credit score prior to submitting your application to a lender for assessment. Now if your are applying online direct with lenders this can sometimes have an impact on your overall credit profile as the lender may do a hard credit check whilst assessing your car loan application. Speak to one of our lending specialists for your next caravan loan today and let us do the heavy lifting for you.
Can I buy a new or used caravan private sale or from a dealer?
Yes you can buy a new or used caravan from a dealer or privately. With Access to over 50 lenders that all have different eligibility criteria and approval criteria getting a pre approval for you next car finance has never been easier. To get pre approved you can apply online or speak to one of our specialists over the phone regarding your own personal financial situation and get the new caravan you want without the hassle. whether your buying a new caravan or used caravan speak to the team today!
What’s the difference between a secured caravan loan and an unsecured caravan loan?
A secured caravan loan will normally have a lower comparison rate as the finance company is using the caravan as security for the loan. This is a typical caraavan loan and it gives the lender more comfort knowing that if you have multiple late payments on your loan they can repossess the caravan as they have used it as collateral. unsecured loans or usually known as a unsecured personal loan will attract higher comparison rates in most cases as there is no security on the loan and is a higher risk for the lender if you make late payments. An unsecured personal loan can be a great option if you do not want the caravan being used as a security and will still offer you a good interest rate whether you want weekly fortnightly or monthly repayments.