Australia is renowned for having some of the most beautiful road trips in the world, from the Great Ocean Road in Victoria to the Red Centre Way in the Northern Territory. 

If you’ve been daydreaming about hitting the open road and seeing the best our country has to offer, you may have also wondered what the best way to finance a new caravan might be. When it comes to buying the caravan of your dreams, one option to consider is taking out a personal loan.

Find and compare caravan personal loans

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Advertised Rate



Comparison Rate*


Monthly repayment


36 months

Loan term

1 year to 7 years

Total repayments
Real Time Rating™


/ 5
Go to site
More details


based on $20,000 loan amount for 3 years at 6.47%

Real Time Rating™


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Learn more about personal loans

What caravan types can you finance with a personal loan? 

Depending on the lender, you’ll be able to finance a range of new or used caravans so you can live out your vagabond goals, including: 

  • Classic or conventional caravans
  • Motorhomes and recreational vehicles (RVs)
  • Camper trailers and teardrop trailers
  • Pop top or pop-out caravans
  • Fifth-wheelers
  • Campervans

What should I consider before choosing a caravan loan?

Caravan loans are not totally dissimilar to car loans, in that there are a range of product rates, features and fees you’ll need to carefully consider and compare before choosing the caravan finance option that’s right for you.

What to consider


Caravan loan interest rate

Consider utilising caravan personal loan comparison tools (such as comparison tables and personal loan calculators) to ensure you’re not paying a higher interest rate than you need to. It's also worth considering the comparison rate, which factors in the product's main fees.

Caravan loan type

Fixed rate caravan loans allow you to lock in an interest rate for a set loan term (often 3 to 5 years), which can mean more simplicity in your budgeting and avoiding rate fluctuations.

Variable rate caravan loans allow you to take advantage of drops in lender interest rates, however you’ll need to be financially prepared for fluctuations to interest rates.

Caravan loan features

Some personal loans allow borrowers a range of features, such as the ability to make extra repayments. Check what features, if any, a lender can offer in their caravan loan product to make it more competitive.

Secured or unsecured caravan loan

Secured loans allow you to use the caravan as collateral, often meaning you’ll pay a lower interest rate, or be approved to borrow a higher amount, as you’re considered to be a lower financial risk.

Unsecured caravan loans may incur higher interest rates, but if you default on the loan the lender can’t claim the caravan as security.

Fees and other costs

It’s important you factor in the additional costs to financing your caravan, such as fees (late payment fees, administrative fees etc.), caravan registration and insurance.

Are there caravan personal loans for pensioners?

If you’re thinking about investing in your own caravan for your retirement years, or are already a pensioner, you might be wondering what options are available when it comes to caravan finance for pensioners.

Lenders won’t necessarily discriminate against you based on being a pensioner looking for a caravan loan. However, each lender’s eligibility criteria differs, with some requiring a minimum income, which can include age pension, and some lenders not allowing age pension to be considered income. 

To ensure that you can still live out your caravanning dreams, check the lending criteria for your preferred loan product, and be sure to read the product disclosure statement as well as any other disclaimers before you submit an application.

What do I need to know before applying for a caravan loan?

To help increase your chance of caravan loan approval and ensure you’re choosing a caravan loan that suits your financial needs and budget, there are a few key steps to follow. 

1. Work out how much you want to borrow

When searching for and comparing caravan personal loans in Australia, one of the first steps is researching how much you want to spend, and therefore borrow, from a caravan loan provider. Caravans can cost you anywhere from $10,000 to $600,000 and even higher depending on the size of the caravan, its make and its features. Have a look around caravan sale websites to get a feel for the price range you’re comfortable borrowing to finance the caravan you want. 

2. Research caravan loan types and features

Before applying for a caravan loan, you’ll want to decide on the type of loan and/or features that would best suit your financial needs and budget. Whether you choose a fixed or variable interest rate, secured or unsecured loan or a caravan loan that allows for extra repayments, all of these factors will influence which loan you apply for and your overall caravan loan cost. 

3. Utilise caravan personal loan comparison tools

Much like with any loan, you should compare your loan options with comparison tools to help you make an informed choice that best suits your financial needs. RateCity's caravan loan comparison table on this page showcases a range of caravan loans that you can filter through to find the most competitive rates available for you. Allowing you to shop around without the hassle, you’ll also be able to see product ratings to help you make an informed decision. 

RateCity’s personal loan caravan finance calculator also helps you to work out your estimated weekly, fortnightly or monthly repayments based on your required loan amount, preferred loan term, interest rate and your credit score. This can help you avoid choosing a loan that's out of your price range, and help to prevent your application from being rejected.

Consider reaching out to a finance broker or financial advisor for information specific to your personal circumstances.

Frequently asked questions

Should I get a fixed or variable personal loan?

Fixed personal loans keep your interest rate the same for the full loan term, while interest rates on variable personal loans may be raised or lowered during your loan term.

A fixed rate personal loan keeps your repayments consistent, which can help keep your budgeting consistent. You won't have to worry about higher repayments if your rates were to rise. However, on a fixed loan you’ll also potentially miss out on more affordable repayments if variable rates were to fall.

What is a personal loan?

A personal loan sits somewhere between a home loan and a credit card loan. Unlike with a credit card, you need to sign a formal contract to access a personal loan. However, the process is easier and faster than taking out a mortgage.

Loan sizes typically range from several hundred dollars to tens of thousands of dollars, while loan terms usually run from one to five years. Personal loans are generally used to consolidate debts, pay emergency bills or fund one-off expenses like holidays.

Can you refinance a $5000 personal loan?

Much like home loans, many personal loans can be refinanced. This is where you replace your current personal loan with another personal loan, often from another lender and at a lower interest rate. Switching personal loans may let you enjoy more affordable repayments, or useful features and benefits.

If you have a $5000 personal loan as well as other debts, you may be able to use a debt consolidations personal loan to combine these debts into one, potentially saving you money and simplifying your repayments.

What is the average interest rate on personal loans for single parents?

Like other types of personal loans, the average interest rate for personal loans for single parents changes regularly, as lenders add, remove, and vary their loan offers. The interest rate you’ll receive may depend on a range of different factors, including your loan amount, loan term, security, income, and credit score.

Can I repay a $3000 personal loan early?

If you receive a financial windfall (e.g. tax refund, inheritance, bonus), using some of this money to make extra repayments onto your personal loan or medium amount loan could help reduce the total interest you’re charged on your loan, or help clear your debt ahead of schedule.

Check your loan’s terms and conditions before paying extra onto your loan, as some lenders charge fees for making extra repayments, or early exit fees for clearing your debt ahead of the agreed term.

What is a bad credit personal loan?

A bad credit personal loan is a personal loan designed for somebody with a bad credit history. This type of personal loan has higher interest rates than regular personal loans as well as higher fees.

How can I get a $3000 loan approved?

Responsible lenders don’t have guaranteed approval for personal loans and medium amount loans, as the lender will want to check that you can afford the loan repayments on your current income without ending up in financial hardship.

Having a good credit score can increase the likelihood of your personal loan application being approved. Bad credit borrowers who opt for a medium amount loan with no credit checks may need to prove they can afford the repayments on their current income. Centrelink payments may not count, so you should check with the lender prior to making an application.

How much can you borrow with a bad credit personal loan?

Borrowers who take out bad credit personal loans don’t just pay higher interest rates than on regular personal loans, they also get loaned less money. Each lender has its own policies and loan limits, but you’ll find it hard to get approved for a bad credit personal loan above $50,000.

Are there low doc personal loans?

Self-employed borrowers may be eligible for low doc personal loans, which require less documentation in their application process than many other personal loan options.

It’s important to remember that though low doc personal loans may require less paperwork, you may need to provide additional security, or pay a higher interest rate.

Can unemployed single parents get personal loans?

It can be more difficult for unemployed borrowers to successfully apply for a personal loan. Most lenders require borrowers to have a regular income available to cover the cost of loan repayments.

If you’re self-employed, or if less than half of your income comes from Centrelink, you may not be eligible for some personal loan options. Consider contacting the lender before applying.

Will comprehensive credit reporting change my credit score?

Comprehensive credit reporting may change your credit score, either positively or negatively, depending on an individual's situation.

Under comprehensive credit reporting, credit providers will share more information, both positive and negative, about how you and other Australians manage credit products. That means credit reporting bureaus will be able to make a more thorough assessment of everyone’s credit behaviour. That will lead to higher scores for some consumers and lower scores for others.

What do single parents need for a personal loan application?

Much like applying for other personal loans, applying for personal loans for single parents will likely require the following:

  • Proof of identity
  • Proof of residence
  • Proof of income
  • Details of assets (e.g. car, home)
  • Details of liabilities (e.g. credit cards, other loans)
  • Loan amount
  • Loan term

Can students with no credit history get loans?

It is possible for students with no available history of borrowing or managing money to get a personal loan, though it may be more difficult as well as expensive than for borrowers with a good credit history.

Having no credit history means having no credit score. While many lenders may consider having no credit score to be better than having a bad credit score, they may still consider it riskier to lend to an unknown borrower and may charge higher interest rates or fees than to borrowers with good credit scores.

Can you pay off a quick loan early?

Many lenders will allow you to make extra repayments onto a quick personal loan when you can afford them, or even exit the loan early, which can help reduce the total interest you are charged. Be sure to check your quick loan’s terms and conditions, as some lenders charge early exit fees for paying off a loan ahead of schedule.

Is it hard to improve your credit score?

It can be hard to improve your credit score, as it usually requires sacrifice and discipline, but hard doesn’t necessarily mean complicated. Some simple ways you can give your credit score a boost include closing extra credit cards, reducing your credit card limit, pay off any loans and make loan repayments on time.

As a general rule, the lower your credit score, the more remedies you can apply and the greater the scope for improvement.

Can I get a $2000 loan on Centrelink?

If more than half of your income comes from Centrelink benefits, it may be more difficult to have a $2000 loan application approved. Many lenders will check if you can afford a loan’s repayments on the income from your job before they’ll approve an application, and many won’t count Centrelink payments when assessing your income for this purpose.

Some lenders may offer $2000 loans to borrowers on Centrelink – consider contacting potential lenders to check before applying.

What can I use a bad credit personal loan for?

Generally, bad credit personal loans can be used for the following purposes:

  • Debt consolidation
  • Paying bills
  • Buying vehicles
  • Moving expenses
  • Holidays
  • Weddings
  • Education

Some lenders restrict how their bad credit personal loans can be used as part of their commitment to responsible lending – be sure to check before applying.

What documentation is needed for a self-employed personal loan?

Personal loans may require a borrower to provide proof of identity, proof of residence, details of any other outstanding loans (including credit cards), details of assets they own (e.g. savings, car, property), and proof of income.

While borrowers in full-time or part-time employment can often provide payslips and similar documents to prove their income, self-employed borrowers may need to provide other documents, such as bank statements or tax returns, to demonstrate that their income can cover a loan’s repayments.

Can I get a $4000 personal loan if I’m unemployed or on Centrelink?

Before most providers of personal loans or medium amount loans will approve an application, they’ll want to know you can afford the loan’s repayments on your current income without ending up in financial stress. Several lenders don’t count Centrelink benefits when assessing a borrower’s income for this purpose, so these borrowers may find it more difficult to be approved for a loan.

If you’re unemployed, self-employed, or if more than 50% of your income come from Centrelink, consider contacting a potential lender before applying to find out whether they accept borrowers on Centrelink.

Which lenders offer bad credit personal loans?

Several dozen lenders offer bad credit personal loans in Australia. These are generally smaller lenders that aren’t household names.