Financing a Motorhome

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Deleted member 84389

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AFternoon,

Just wondered how poeple finance there motorhomes please? I no alot of youtubers have sold up and paid for it that way or are retired but what about others on here?

I guess to take out finaince on a 20 to 30k motorhome you would need a good credit score also?

cheers

Kevin
 
just buy what ever you can with what ever cash you have.
dont ever buy on hp. or a loan etc.
mind should you beable to buy a real good bargain that you can sell on quickly that might be right to have a loan.
but sell dont keep .
if you cant afford it you cant have it.
 
We started out with a 1984 Hymer A class for £4000, done us proud for a few years so we could get the hang of it having travelled about in our T25 for years. Then sold that one which financed the one we have now, you don't have to pay a fortune just because it's a big shiny machine, some of the older ones are of better quality build wise and from my point of view not so much technology to go wrong. Have fun looking and your first one is most certainly won't be your last so check out all the variations of layouts to see what suits you best.
 
We had savings and we took out a small loan..(unnecessarily so we paid off the loan within a year)
But had worked and saved for 38 years and paid off mortgage..
So financially stable....... not sure how youngun's do it without selling house and or getting income from web-blogs etc
If full-timing renting the house out is an option but depends on so many factors.
As posted above "older cheaper vehicles" have their advantages.
No one size fits everyone !
 
I guess finance is OK if you can afford it and feel secure in your employment, who knows what is around the Corner, not for me though Motorhome lose thousands in value once you drive them off the forecourt, if I do not have the cash I do not buy, nowadays I see so many young people in New. vans and wonder at their levels of debt it seems to be the live for today mentality and worry not about tomorrow. Each to their own of course.
 
Bought our bus good deal for cash then threw whatever I could afford at the conversion over 9 months. Now it's on the road it will constantly change as I can afford to change it but we managed to do it without borrowing from anyone.
 
Im in a lucky position and don't have mortgage etc, and for the first time in my life bought new, this after swearing when I was younger Id never buy new cars etc due the the drop soon as you drive away. I bit the bullet as the money in the bank isnt doing anything special, and kids inheritance took a bashing.

Ive thought a few times about if I did the right thing, should I have bought 12 month old etc, but lifes too short to worry, make the decisions and crack on, who knows I may have this van 20 years
 
AFternoon,

Just wondered how poeple finance there motorhomes please? I no alot of youtubers have sold up and paid for it that way or are retired but what about others on here?

I guess to take out finaince on a 20 to 30k motorhome you would need a good credit score also?

cheers

Kevin
I wouldn't buy on credit. Far better to save up, and get interest rather than paying it. However, inflation rates are higher than interest rates.

I did once (1997, I think) buy a motorhome from a dealer. They clearly assumed I would be buying on credit, and I suspect they were hoping for some commission, because the vehicle price was reasonable.

When I went to pay and pick it up, they were not pleased that I said I didn't want the credit deal they had drafted.

Best to buy what you can afford.
 
Unless you are going to fulltime then it is just a hobby, a frippery.
Only spend what you know you can comfortably spend again in case of unexpected mishaps.
Engines are not cheap.
I was lucky in buying a van for nearly half market value, (£10k) only for engine to blow 6 months later.
Engine cost 50% of what I originally paid.

Obviously if you are buying vans in excess of £30k then economics are a bit different.
 
I wouldn't want to jump in with an expensive van in case I didn't like motorhoming. I bought a 17 year old van, with the intention of keeping it for two years to get the dream out of the system. That was eight years ago and she's still sailing through the mot. Spending a lot of money can inhibit your use. I wouldn't dream of going down some of the lanes I've used in a £30,000 van.
 
Just don’t do what I see so many times, buy a van and leave it parked up most of the year. If you look round you can pick up an old Luton or panel van under a grand then put bits in as you need it. If you have the cash to spend out more then do so but be aware everything costs so much more lol
 
Just don’t do what I see so many times, buy a van and leave it parked up most of the year. If you look round you can pick up an old Luton or panel van under a grand then put bits in as you need it. If you have the cash to spend out more then do so but be aware everything costs so much more lol
Depends what you buy it for. Lots of people just like showing off that they have money to spend, even if they haven't.
Some buy a motorhome on credit so have to work too many hours to pay it off, so they don't have time to use it.
Some just want a pet project to fritter money away on. Boats that never leave the marina mostly, but sometimes motorhomes.
 
Can’t see the point myself, if I wasn’t going to use the van I could have had a lot of holidays instead. You can have a lot of fun in just a tin tent, it’s only as you get older and knackered like me that comfort plays a bigger part. Glad you mentioned boats though cos think it’s only them can be a bigger money pit 👍
 
In 1979 I had to see bank manager to take out a £400 loan to purchase a kit car, a year later when I had paid back the loan the bank manager told me I now had a credit record which would allow me to have further loans, it was the first and last loan I've ever had. Since then every vehicle I've had has been a 'cash' purchase.
 
Had credit once when 19 for a 1303 beetle bought from my work,pile of sh one t and they skinned me,drank fuel like a panzer & out of alignment, 3 mths later i paid of loan in full and sold the junk heap back to another sales man in exchange for a imp they could not get running right, when the boss came in and found out he went ballistic,i said i only sold you what you sold me,two finger salute from me. 😂,ps imp had a split in inlet manifold,sorted next day and drove to work in it,more finger up.
 

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