Financing Your New Motorhome


Did you enjoy the record-breaking, long hot summer with which the UK was blessed this year? But felt an element of frustration when you had to return home all too soon at the end of a short day trip?

How good it would be to not only pack up the car for a day out at the beach – or head to the hills for somewhere cooler to stay – but also have somewhere to stay over for a long weekend or even your entire holiday?

A motorhome gives you just that freedom to choose. Although a motorhome is an ideal way to join the many other Britons making the most of their pounds and opting for a “staycation” these days – a short hop across the Channel also gives you the freedom of the open road across the whole of Europe.

If you thought that the initial expense of buying a motorhome made the idea of owning one little more than a pipedream, consider some of the motorhome finance options we offer here at ACF Direct – and next summer you could be making even more of the warmth and sunshine. After all, scientists are predicting successive heatwaves in the future.

Motorhome Finance

So, if you want to own a motorhome, what are some of your leisure vehicle finance options? You could find the cash out of your own money if you have it, of course. But with motorhomes not the cheapest of items, you may require motorhome finance instead.

A popular option is hire purchase.

What Is Hire Purchase (HP)?

Buying a motorhome through some form of credit agreement gives you the opportunity to spread out the cost over an agreed number of years.

The long-established, tried and tested method for doing just that is hire purchase – a term that reflects the unique combination of both hiring and eventually completing the purchase of a higher-value item such as a motorhome.

Important Points

  • Since hire purchase is a credit transaction, the finance provider is obliged to check your credit rating – to ensure that repayment of the borrowing is within your current financial means and to confirm that you have successfully managed current and previous debts and other forms of credit;
  • Once your creditworthiness has been established, an initial deposit is typically required, and this usually represents around 10% of the purchase price of the motorhome you want to buy;
  • This if followed by your payment of equal monthly instalments over the agreed number of years;
  • Clearly, the bigger the deposit you are able to offer, the shorter the period over which you need to make repayments, whilst a smaller deposit extends the number of years over which you are making repayments;
  • From the commencement of the hire purchase agreement, you become the registered keeper of your motorhome and are responsible for its servicing, maintenance and insurance;
  • But the vehicle continues to be owned by the hire purchase provider until you have paid the final instalment – so, you cannot sell it before then without the finance company’s permission.

Be prepared for another long, hot English summer – or at last have guaranteed shelter from the storm – in 2024 by arranging to buy a motorhome now. Why not contact us to see how we can help you finance your new motorhome?