Firstmac's new offering presents borrowers with the choice between fixed and variable interest rates, accommodating diverse financial preferences. Fixed rates commence at 7.14% per annum, while variable rates start from 6.59% per annum. Loan terms are adaptable, ranging from three to seven years, allowing customers to select repayment periods that align with their financial plans.
Marie Mortimer, Chief Commercial Officer at Firstmac, highlighted the impetus behind this initiative: "Brokers tell us they're seeing more customers looking for lifestyle finance, but the options available – especially in caravan lending – have been limited." This feedback underscores the necessity for more accessible and varied financing options within the caravan market.
Industry data underscores the popularity of caravanning in Australia. In the year leading up to December 2024, Australians embarked on 15.2 million caravan and camping trips. Additionally, national caravan and campervan registrations have surpassed 901,000, reflecting a robust and expanding market.
For prospective caravan owners, Firstmac's entry into this sector signifies a valuable addition to the financing landscape. The combination of competitive interest rates, flexible loan terms, and the backing of a reputable lender offers a compelling option for those aiming to finance their caravan purchases.
As the caravan industry continues to flourish, the introduction of tailored financial products like Firstmac's secured caravan loan is poised to enhance accessibility and affordability for Australians eager to explore the open road.
Please Note: If this information affects you or is relevant to your circumstances, seek advice from a licensed professional.
