30% of $50,000

How it works

The formula is the same for any percentage question: result = base × (percent ÷ 100). Here, $50,000 × (30 ÷ 100) = $15,000. A deposit of this size on a caravan is a substantial upfront payment — well above the 10-20% many lenders ask for as a minimum — and putting more cash down reduces both the size of the loan and the total interest charged over its term. See Moneysmart’s guide to car loans for how loan comparisons work, since the same lending principles apply to caravan finance.

Worked example

Barry and Denise have just retired after decades on the NSW Mid North Coast and are based in Port Macquarie, planning a lap of Australia in a new caravan. The dealer they’ve chosen is asking $50,000 for a well-equipped touring van, and their credit union has approved a caravan loan on the condition they put down at least 20% — though they’ve decided to go further. The calculation: $50,000 × 30% = $15,000. That’s the deposit Barry and Denise pay upfront from their retirement savings, financing the remaining $35,000 over five years. The bigger deposit means smaller monthly repayments and less interest paid across the life of the loan while they’re out on the road.