Driving with a caravan is one of the most popular ways to experience the great Australian outdoors. It has all the fun of camping while still giving you the needed comforts. Recently, more and more holidaymakers are opting to buy their own caravan so they can be out and about anytime they want. But there’s much more to caravanning than meets the eye.
Read on to learn about the costs associated with buying and owning a caravan.
How much does a caravan cost?
The average cost of buying a caravan sits at $70,000, but prices can vary depending on the size, make, model, and features it offers. It could go from anywhere below $10,000 for used or very small caravans, to over $200,000 for higher-end or luxury models.
Here’s a quick breakdown of the average cost of a caravan per type:
- Small caravans (less than 16 feet): $12,000 to $58,000
- Large caravans (20 feet and beyond): $60,000 to 80,000
- Fifth wheelers: $65,000 and $150,000
- Motorhomes or RVs: $50,000 to $200,000
Usually, bigger caravans with more advanced features are more expensive compared to simpler ones with minimal amenities. Brand new caravans typically cost more than used ones of similar models.
Finding a caravan that fits your budget
Before you start shopping for a caravan, you need to make a budget as it will dictate the type of caravan you can buy. Look at your income and expenses to figure out your price range.
If you have your eye on a certain model but it doesn’t quite fit your budget, try looking at the second-hand market. Usually, you can find a much better deal for a similar or older make of a certain model while staying comfortably within your price range.
Your caravan should complement your lifestyle. This means it should fit not only your caravanning needs but your financial needs, as well. If you’re having trouble figuring out a budget, you can get in touch with the expert finance brokers at Aussie Leisure Loans to learn about your caravan loan options.
How much is caravan maintenance?
Caravan maintenance can cost anywhere from $200 to $600 annually. For single-axle caravans, the basic maintenance cost can go from $250 to $350, while tandem-axle caravans can go from $400 to $500 or more.
The overall cost varies depending on the complexity of the service and the size of the caravan. An undercarriage service (brakes, bearings, and lights) has an estimated cost of $300. A complete caravan service, including a full inspection, could cost between $350 to $585.
Another factor that will affect your caravan’s maintenance cost is its general condition. A caravan used for short camping trips, for instance, requires less maintenance compared to one that’s frequently used for off-road adventures.
If you’re buying a used caravan, you could see more expensive service fees due to additional years of wear and tear. In a situation like that, it’s best to have the used caravan inspected by a professional to see if it’s in good condition and have an idea of what possible maintenance costs could be like.
What are the running costs of owning a caravan?
When you own a caravan, you’ll also have a range of ongoing costs such as fuel, insurance, registration, campground fees, and storage. To better understand the true cost of caravans, you need to consider these additional expenses while figuring out your budget.
Fuel costs depend on the kind of caravan you own (whether it’s a towed caravan or a motorhome), as well as how much you use it.
Meanwhile, registration costs vary per state, the size of the caravan, and if it’s for personal or business use. Always check with your state or territory beforehand to know how much you’re expected to pay.
Are caravan loans expensive?
Caravan loans don’t have to cost an arm and a leg. There are caravan loans out there with competitive rates and useful features that let borrowers balance their loan payments and the rest of their finances easily.
With the right caravan finance solution, you can enjoy the perks of caravan ownership while easily managing your loan payments. The key is finding a caravan loan that fits your financial circumstances.
Using a caravan finance broker
Searching for the perfect caravan loan can be overwhelming. Although there are a lot of options to choose from, it’s hard to find one that suits your needs best. Sometimes, there are specific phrases or jargon that can be confusing for the typical borrower.
If you want to skip all the hassle of scoping out loans and talking to different lenders, you can always get help from broker services like Aussie Leisure Loans. These finance brokers will do all the hard work of speaking with lenders and negotiating on your behalf to get a good deal on your caravan loan.
Want a stress-free caravan loan experience?
Get in touch with Aussie Leisure Loans today! Check out our range of incredible caravan finance products. Call 1300 889 669 or get a quick quote online!
