Financing a used motorhome: How it works

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Motorhome finance explained in simple terms

Hire Purchase

When financing a used motorhome much of the finance available is provided under a Hire Purchase agreement spreading the cost across a number of years.  Depending on the age of the vehicle, this could be up to 10 years.  From our 20+ years’ experience, this is the simplest way of providing affordable and easy to understand finance on a used motorhome.

Budgetary Control

With fixed regular repayments you are in control.  Over the life of the Hire Purchase agreement, the figure you pay each month will remain the same and there will not be a final lump sum to pay (or for you to refinance).  Also, you are going to be fully protected under the Consumer Credit Act Termination Rights and the Consumer Rights Act.  Total peace of mind for the duration of the agreement.

How does financing a used motorhome work?

What will you pay when financing a used motorhome

The vehicle price you see on the front of the vehicle is where you start.  With Oaktree you may well find that your used motorhome comes with a bunch of extras such as an awning, satnav, bike rack, etc.  So, that’s all in your favour, but basically, we’re just helping you finance the vehicle.

You can find out more about financing a motorhome by going to our website finance pages where you can use our Quick Finance Calculator to play around with some figures.  Click this link to go to our finance page.


This is how much are you putting into the pot to bring down the cost of the monthly repayments.  This could be your part-exchange (your old motorhome, car or caravan… we even take motorbikes and boats!) or a cash deposit.  The more you put in as a deposit the lower the total amount payable and it can significantly reduce your monthly repayment costs. If eligible, you could find that 0% deposit is available for you.

Interest rates (APR)

This will always be a fixed interest rate, but as you may be aware, the financial markets vary over time so it is difficult to quote what interest rates might be in this blog post. It’s always best to get a formal finance quotation from us.  Try our QUICK FINANCE CALCULATOR or the CREDIT INDICATOR.  Getting the correct information will ensure that you will be able to afford the repayments and that the interest rates are what you would expect.

Term of Loan

Unlike cars, motorhomes can be financed up to 10 years. However, the maximum age of the vehicle must be less than 20 years old at the end of the agreement.  So, if you want a 10-year term, the motorhome can’t be more than 10 years old at the start of the agreement.


You can borrow from as little as £1,000.  The maximum figure is dependant on your credit status and down to the finance company, not the dealer.

Total amount payable

As you can see below if we take the cost of the motorhome and deduct the deposit then spread the borrowed amount over 120 months (10 years) at a fixed interest rate then you will be paying back the ‘Total Amount Payable’
Screen shot of our Quick Finance Calculator - financing a used motorhome

What next?

Please give us a ring on 0115 930 3140 and speak to one of our helpful sales guys, or pop in and have a chat.  There is never any obligation and you certainly won’t feel any pressure to buy. We are just here to help you make the right choice and to start enjoying the motorhome lifestyle!

If you’d rather just fill in an online form then you can click one of the links below

Quick finance calculator – allows you to play with some figures without commitment. Just use the sliders to play around with different values. It just gives a ball-park figure.  Come in and see us for a formal finance quotation.


Credit Indicator – This is a nifty tool to help you understand if you’d be accepted for the level of credit you’re looking for.  It does NOT record this finance enquiry on your credit score.

Click here for the CREDIT INDICATOR

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