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Caravan loans

Compare caravan finance options to help you make your purchase.

Thinking of buying a caravan for a holiday with your family or travelling during retirement? This can be a cost-effective way to see New Zealand. While caravans can be expensive, finance is available from lenders such as MTF Finance, Stadium Finance and Credit One. Find out what you need to know about caravan loans in this guide.

Compare loans you can use for a caravan

Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee
MTF Finance Secured Car Loan
8.20% - 20.20%
$2,000
$100,000
3 - 60 months
$376
Eligibility: Must be 18+, be an NZ citizen, resident or have a work visa, and have a regular source of income.
Secured car loans from $2,000.
The Lending People Car Loan
6.95% - 26.95%
$2,000
$75,000
1 to 7 years
$0 - $995 depending on loan type
Eligibility: Be 18+, an NZ citizen or permanent resident, in employment and earning at least $500 per week.
Secured and unsecured car loans of up to $75,000 from a variety of reputable lenders.
Credit One Secured Caravan Loan
6.85% - 23.95%
$5,000
$1,000,000
1 to 5 years
$195 - $995 depending on lender
Eligibility: Be 18+, an NZ citizen, permanent resident or have a work visa, and have an income of least $500 per week.
100% online secured caravan loans from $5,000.
Lending Crowd Secured Car Loan
5.03% - 15.44%
$5,050
$200,000
3 or 5 years
$450 - $1,450 depending on the amount borrowed
Eligibility: Be a NZ resident/citizen and have a good credit score.
Borrow $5,050 to $200,000 for your chosen vehicle. 100% online with no paperwork or early repayment fees.
CarFinance2U Car Loan
8.95% - 23.95%
$5,000
N/A
1 - 5 years
N/A
Eligibility: Be at least 21 years old, have a valid NZ driver's licence and be an NZ citizen or permanent resident.
With a CarFinance2U secured or unsecured car loan you could get pre-approval for your next car in 30 minutes.
Nectar Unsecured Car Loan
8.95% - 29.95%
$1,000
$25,000
6 months - 4 years
$240
Eligibility: Must be 18+, an NZ citizen or permanent resident, have an income of $400 per week or more (after tax) and a stable credit history.
Unsecured car loans from $1,000 with payouts made within one day of approval. Applications entirely online.
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How do caravan loans work?

Essentially caravan loans work like any other loan. You have a choice between an unsecured personal loan or secured personal loan that allows you to use your caravan as security. If you opt for a secured loan, you can take advantage of a lower interest rate but unsecured loans offer more flexibility.

What to know about caravan loans

  • Secured personal loan. If a lender allows you to use your caravan as security then you can benefit from a lower interest rate but you risk your caravan should you default on the loan.
  • Unsecured personal loan. This loan allows for greater flexibility with your loan amount, so you can use it to purchase accessories for your caravan or even insurance. Unsecured personal loan rates are higher because the lender is taking on more of a risk.
  • Caravan finance from a specialist lender. Several specialist lenders operate in this space. Remember to check the reputability of these lenders before you apply.
  • Pre-approved caravan loans. The majority of lenders offer pre-approval on caravan loans, which can help your bargaining power when buying your next caravan.

What types of caravans can I purchase?

Whatever road you choose to travel, there’s a caravan out there that can make your trip a pleasure. Find out more about what types are available below.

How should you compare your caravan loan options?

  • Find out the interest rate. Interest rates for caravan loans tend to be quite competitive, but it’s still essential to use the interest rate as a comparison point. A lower interest rate can potentially save you a lot of money.
  • Will the loan be secured or unsecured? Caravan loans can either be secured or unsecured. Unsecured loans have less risk, but they often have higher fees to compensate for this risk. Choose whether you want a secured or unsecured loan and then compare fees and charges once you make your decision.
  • Are you given flexible repayment options? Most caravan loans tend to have flexible loan repayments, but some are better than others. They can offer fortnightly or monthly repayments by direct debit, so choose a loan that provides convenient options.
  • See what loan term is on offer. The duration of caravan loan terms vary, depending on which financial provider you choose. The amount of money you borrow influences the term length, so always check how long it will take you to repay the loan before agreeing to anything.

How much can you afford for your caravan? Try our calculator

You can use the calculator to compare different interest rates and find out how much your caravan loan repayments will be. Knowing these figures will give you a better idea if you can afford the loan.

What to avoid with a caravan loan

  • Watch out for over-committing to a high loan amount. Ensure that you’re not borrowing more than you can afford when you take out a caravan loan. It’s essential not to get yourself into too much debt. If you are currently in debt, it’s wiser not to take out another loan. Continuously borrowing money is a dangerous move.
  • Are there any hidden surprises in your contract. Just like with any loan, the lender requires you to commit to a contract. Make sure you carefully read it through before committing to it, so you’re not surprised by unexpected charges.

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Checklist for buying a caravan

Every camper has unique requirements when it comes to caravan shopping. Which of these features are most important to you?:

  • Chassis. The chassis of a caravan plays a crucial role in holding it together. For a longer life span look for a frame made using high-quality materials. If you plan to carry heavy loads or you’re thinking about driving off-road, look for an extra sturdy chassis.
  • Suspension. Suspension springs should be strong enough to take the weight of the caravan, as well as of the load that it carries. Make sure you pay heed to their condition at the onset, especially if you will be driving it off-road.
  • Tailgate and doors. Remember to check all seals, not just on the doors and the tailgate but also on all compartments to avoid damage from water and rust.
  • Towing. The towing coupling should have enough strength to take the caravan’s weight, as well as all that it carries.
  • Trim. Check for waterproofing and mildew-proofing of all canvas and awnings, and make sure they don’t have any holes.
  • Bedding. Ensure there’s enough room for everyone who might use your caravan and don’t hesitate to take measurements of the linen if it looks small.
  • Possible add-ons. While the list of add-ons can be substantial, most caravans tend to include water tanks, jockey wheels, and awnings, so it makes sense to look for these in your purchase.

How to start your application for a caravan loan

If a caravan loan sounds like it’s right for you, applying for one is easy. All you need to do is use the comparison table on this page and compare the caravan loans available. Look at all your different options and when you find one that’s right for you, click the ‘Go to site’ button which will take you through to the lender’s website.

Once you’re on the website, complete your application form online and wait to hear if you receive approval for your caravan loan.

Typically, to be eligible for finance you must be at least 18 years of age. You must also have a good credit rating and provide with evidence of your finances, such as bank statements, payslips and copies of other credit contracts. Lenders may also require you to be a New Zealand resident/citizen.

What documents do I need for my caravan loan?

Your application will run much smoother if you have all your documents ready and available when you apply for your caravan finance. You need:

  • Driver’s licence or passport as proof of identity.
  • Payslips or proof of income.
  • Confirmation of your address.

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