Caravan Loans and Camper Trailer Finance
Getting you on the road and on your way with speed and style
Anyone who wants to get out and see the world needs a mode of transport. For those on an overseas holiday in South-east Asia, it might be a rickshaw. For others, a yacht or plane. And for so many people who want to travel around Australia and experience the best of both convenience and luxury, a caravan or camper trailer is the most appropriate option.
Benefits of a consumer caravan loan
Caravan finance is a popular option for many people that come to us, as it enables people to get on the road very quickly. Additionally, you may be able to gain some or all of the following bonuses:
- Borrowing capacity that reaches up to and beyond 100 per cent of the cost of a caravan, including insurance and accessories**.
- Taking out a camper trailer loan without having to place down a deposit.
- A fixed repayment schedule that ensures regular, stable costs – perfect for long term budgeting.
- Incredibly competitive interest rates.
- Loan terms that last anywhere between one and seven years.
We work with a panel of over 23 lenders and can turn around caravan loans in as little as 24 hours. But before signing off, it’s important to know exactly what type of finance we offer, was well as the details of these associated benefits.
What is a consumer caravan loan?
Also known as a secured caravan loan, this type of financing essentially puts the vehicle itself up as security. A consumer caravan loan is the most common way to purchase a new or used recreational vehicle for private use. It is a simple loan between the lender and you. This means the caravan is in your name, and you can ride off and enjoy what Australia has to offer. However, if repayments aren’t made as per the loan agreement, the caravan itself is the collateral, and is sold on.
It effectively puts the caravan up as insurance between you and incurring serious levels of debt! It’s a simple, straightforward method of caravan finance that has proved incredibly popular with our customers. The benefits don’t end there either.
The consumer caravan loan can also come in a balloon format, which means you make reduced payments during the loan term, and pay one larger bulk amount at the end of the period, which can be up to seven years.
This is great for people who want quick access to a vehicle with a set plan – a consumer caravan loan comes with a fixed interest rate, so you know exactly what you will pay.
Competitive interest rates
The interest rates for a secured caravan loan are often lower than a regular unsecured personal loan. This makes a consumer caravan loan attractive to most consumers, especially once you factor in that the interest rate is fixed for the entire term of the loan. With this in place, you know exactly what you will be paying with every transaction, which makes the secured caravan loan incredibly easy to budget for.
Even though there is a predetermined time frame for your caravan loan repayments, there is the option to pay it out at any time. This means that if your financial situation changes significantly or you receive a one-off windfall, you can exit the loan term by paying the remainder in one transaction – you aren’t necessarily locked in for the full loan term.
When you take out a secured caravan loan, you have borrowing capacity that extends well beyond the full cost of the vehicle itself. This enables you to get the right insurance and protection for your vehicle and fold the costs into your borrowing.
Of course, make sure to carefully consider the type of insurance you will need. In addition to third party insurance, you could take on a comprehensive policy that covers a wide range of potential incidents – check with AAA Finance to see what works with your consumer caravan loan.
Variety: A driving force
On top of this, the consumer caravan loan can apply to more than just its namesake. When you get this type of finance with AAA, you could purchase a horse float, 5-wheel vehicle or even a larger motor home. You are able to borrow more than 100 per cent of the price of a caravans, which enables you to cover registration and any other additional accessories, as well as insurance. You may not even have to lay down a deposit!
Clearly, it can be fast and simple to get what you need to get on the road. Speaking to a specialist from AAA Finance is just the first step on the way to a great caravan – don’t hesitate to get in touch.
If you have decided that a secured caravan loan is the right option for you, then feel free to get in touch with the team at AAA Finance today. There are many ways you can do this – you could even fill out a form and get pre-approved now!
Alternatively, fill out a quick loan enquiry form, or even give one of our finance experts a call on 07 5493 1222. We’ll get you where you need to be.
Caravan Loan Calculator
Estimate your monthly repayments using our Caravan Loan Calculator.
You will need an estimate of your loan amount, loan term in years and an approximate interest rate. AAA Finance and Insurance will get you the lowest interest possible. Your interest rate will be based on your prior credit history.
Useful Link: How to buy the right camper trailer
‘Camper Trailer Tech Tips – Buying the right camper trailer‘ is a useful link when deciding on purchasing a camper trailer.
*The Comparison Rate is calculated on a Secured Loan of $30,000 fixed for a term of 5 years, effective 12/06/2015 and subject to change. WARNING: The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.
** Conditions apply