Hit the road and explore Australia sooner with the right caravan or camper trailer finance.
Thinking of visiting Australia on the road? If you’re considering your own caravan or camper trailer purchase for either travelling around with your family or for your retirement, it can be a fun, cost-effective way to see the country.
How does Lifestyle Finance work?
Caravan & camper trailer financing options will allow you to purchase a leisure vehicle from a dealer or private seller which is new or used. Values can range between $5,000 – $100,000 depending on the lender.
Lifestyle finance can either be an unsecured personal loan or a secured consumer loan that allows you to use the leisure vehicle as security. All secured loans for leisure vehicles will only offer fixed interest rates and have loan terms varying between 1 – 7 years.
What types of Lifestyle vehicles can you Finance?
There are many different types of leisure vehicles which you can get finance for.
Some of the most common include:
- Full caravans
- Pop top or pop-out caravans
- Wind-up and out caravans
- Teardrop trailers
- Fifth wheeler caravans
- RV or motorhome
- Box Trailers
- Car Trailers
- Toy Haulers
- Tandem Trailers
- Livestock Trailers
- Boat Trailers
- Food Trailers
- Jet Ski Trailers
There are many other types of leisure vehicles which may also be eligible, if you are unsure whether the type of leisure vehicle you are looking to purchase is eligible for financing, speak with one of our qualified consultants.
The types of Lifestyle Financing
As mentioned you can purchase a leisure vehicle via either a unsecured personal loan or a secured loan using the asset as security.
Worth noting that that an unsecured personal loan generally allows for greater flexibility with your loan amount and as a result you may be able to cover additional costs including:
- Accessories for your caravan or trailer
- And/or insurance
What fees are involved with Lifestyle Financing?
The fees and charges associated with leisure loans may vary depending on the vehicle and lender. Common fees include:
- Application fees, also known as upfront fees
- Account-keeping fees
- Early exit fees
- Redraw fees
We will guide you on the best lender options once you share your brief with us to avoid any unnecessary fees and charges upfront.
What are balloon payments?
A balloon payment, or residual value payment, is a lump sum payable at the end of your caravan loan term. If you choose to utilise a considerable balloon payment, your monthly repayment throughout the life of the caravan loan may be lower. Balloon payments are usually available for caravans meeting certain criteria, but some lenders may not offer a balloon payment as an option.
When you apply for Lifestyle Finance, you should have the following documents ready:
- 100 Points of ID, such as a passport, driver’s licence or Medicare card
- Employment details, including your employer’s name and contact details as well as copies of recent pay slips
- Financial details, including information about your assets, debts, income and liabilities
- For self-employed individuals, you will need to have supplementary financial documents
How do I apply?
You can apply for lifestyle finance by submitting a simple online application.
If you would like to know more or need assistance determining the best equipment financing solution for you, one of our experienced finance consultants are happy to assist, contact us today.
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