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Our tips for financing your first motorhome

Written byKoyo Loans
First published12th May 2022
  • How much do motorhomes cost? 
  • How can you pay for a motorhome? 

A motorhome can be an excellent investment if you’re hoping to see the world at your own pace. Whether you love taking relaxing weekend breaks by the coast or are planning long adventures across Europe, a motorhome or camper van is just what you need to make the trip that extra bit special. However, buying a top-quality motorhome isn’t cheap. In this blog, we delve into the expected costs for a motorhome and explain how Koyo Loans may be able to help you out.

How much do motorhomes cost? 

The average cost of a motorhome in the UK is £48,995. However, there are a lot of things to think about before settling on the type of camper van you wish to buy, including: 

  • Brand – top brands like Bessacar and Hymer cost upwards of £70,000. 
  • Berth – motorhomes are available as 2, 4, 6, and even 8 berths, so you will need to decide how much space you need. 
  • New or used – new motorhomes cost more than used camper vans, so you can save money by scouring the used market, but you will need to make money available for renovations.

Ultimately, you can pay anywhere between £40,000 and £80,000 for a new motorhome in the UK. If you’re happy to buy an older model, you can find motorhomes for as little as £5,000, but they will need to be renovated. You could end up spending anywhere between £500 and £30,000 on renovations alone, so you will need to think about this if you opt for an older model camper. 

How can you pay for a motorhome? 

In terms of financing your first motorhome, you have several options: 


If you’ve been saving up for your dream motorhome, then you can settle the transaction outright with your cash savings. This way, you don’t need to worry about interest payments or finance contracts and can have the deal over and done with. If you haven’t quite saved enough for your dream model, you could always use some of your savings to cover a deposit on the motorhome, as this will bring the repayment terms on a hire purchase agreement, as explained below.

Hire purchase agreement 

When you buy a motorhome directly from a dealer, you will have an option to enter a hire purchase agreement. This requires you to make a deposit (usually around 10%), which is secured against the motorhome itself. You will then be required to pay a fixed amount (inclusive of interest) each month until the end of the loan period. Although they’re easy to set up, hire purchase agreements can be expensive and aren’t the best way to finance a new motorhome.

Credit card 

Depending on your credit card limits, purchasing a motorhome using your credit card might be possible. While most credit cards are limited to around £5,000, it’s a viable option if you’re buying a cheap camper van that you’re planning to renovate. Naturally, it’s impossible to put a £50,000 motorhome on a credit card, so you should only consider this as an option for cheaper models.

Personal loan 

Another financing option for your motorhome is to take out an unsecured personal loan. This allows you to borrow money from a lender such as Koyo Loans, before paying the agreed amount back each month, plus interest. You can use our loan calculator to work out how much you could borrow to contribute to purchasing your first motorhome. 

We offer unsecured personal loans of between £1,500 and £12,000 that can be used towards the purchase of your motorhome. 24.9% APR Representative. While it might not be enough to cover the entire cost of a brand new camper van, a personal loan is a viable option for cheaper models or to help you pay for renovations. 

Ultimately, motorhomes are expensive, but there are several ways you can finance your purchase. Whether you’re buying a brand-new model that’s ready to cruise around Europe or are renovating an old camper van as a project, we hope you have the time of your life as you take to the roads this summer!

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