loans.com.au Boosts Caravan Loan Competition

Leading online lender loans.com.au has moved to shake up the market for caravan lending by launching its first ever caravan loan.

Managing Director Marie Mortimer said the new caravan loan would be highly-competitive because it was a secured loan, unlike the personal loans which currently dominated the market.

“Caravan lending is an underserviced area where most banks either don’t offer a loan or only provide personal loans with excessive interest rates,” Ms Mortimer said.

“Our secured loan offers exceptional value with a low interest rate that is sure to be popular among aspiring caravan owners and those refinancing off overpriced loans,” Ms Mortimer said.

The caravan loan starts at 6.74% (7.86% comparison), and is available for new or used caravans and camper trailers, up to 7 years old.
It is available for both dealer and private sales along with refinances. The product comes with a loan term of 3-7 years, with a fixed or variable interest rate.

Ms Mortimer said that caravanning was a great Australian pastime that was only growing in popularity, so it deserved more attention from lenders.

“With the high-price of property the dream of a holiday home is out of reach of most Australians but the caravan option remains exceptional value for people across all age groups,” Ms Mortimer said.

“It's not hard to understand the attraction of owning a caravan when you can park your holiday house at thousands of campsites across the country for a fraction of the cost of a similarly located hotel room or rental,” Ms Mortimer said.

In the year ending December 2023, Australians took 15.3 million caravan and camping trips, spending $14.3 billion. This exceeded pre-covid levels and was an all-time record.

Caravan and campervan registrations have steadily grown over the last decade, with almost 859,000 caravans and campervans registered in 2023. This was a 21% increase since 2019 and the highest number ever recorded.

Founded in 2011, loans.com.au has grown to become one of Australia’s largest online lenders, with thousands of happy customers across Australia. loans.com.au is backed by the financial strength of our parent company Firstmac, which is a leading non-bank lender. Firstmac has been operating successfully for 45 years and it has more than $17 billion in loans under management.