Motorhome Loan: What You Need to Know Before You Borrow

When you hear motorhome loan, a financial agreement to pay for a motorhome over time, often with interest. Also known as RV loan, it’s not just buying a vehicle—it’s buying freedom. But unlike a car, motorhomes lose value fast, and lenders treat them differently. Many people jump into a motorhome loan without realizing how much it costs to own one long-term, especially when you factor in insurance, maintenance, and storage. You might think owning is cheaper than hiring, but that’s not always true. If you only use it a few weeks a year, paying monthly for a loan while also covering storage and upkeep can cost more than renting one when you need it.

That’s why so many people in the UK are choosing motorhome hire, renting a motorhome for a trip instead of buying one. Also known as campervan rental, it lets you test different models, avoid depreciation, and skip the hassle of repairs and winter storage. If you’re unsure whether you’ll stick with motorhoming, hiring gives you the freedom to try before you commit. And if you do decide to buy later, you’ll know exactly what features matter to you.

Then there’s the used motorhome financing, loans for second-hand motorhomes, often with lower interest rates but higher risk. A five-year-old motorhome might look like a bargain, but if the water system or engine has hidden wear, your loan payments could turn into a money pit. Lenders usually require a bigger down payment for used units, and some won’t finance anything over 10 years old. You need to know what to check before signing anything—things like service history, damp issues, and whether the habitation certificate is up to date.

And let’s not forget RV loan, a broader term that includes motorhomes, campervans, and travel trailers. The rules vary by lender. Some banks treat them like cars, others like small homes. Credit scores matter more than you think—many lenders want at least 680 just to qualify. And if you’ve got a short credit history or past late payments, you’ll likely pay higher interest or need a co-signer.

People who take out motorhome loans often don’t plan for the hidden costs: winterizing, tire replacement every 5 years, generator maintenance, and the fact that you can’t just park it anywhere. Unlike a house, you can’t leave it on the street. You need a dedicated spot, and those cost money too. Meanwhile, hiring gives you a clean, serviced vehicle every time—with no surprises.

There’s no right answer. A motorhome loan makes sense if you’re planning to use it often, travel full-time, or treat it like a second home. But if you’re just looking for a few summer trips or weekend escapes, renting is smarter. The posts below show real experiences from people who’ve done both—what they wished they knew before signing a loan, what they saved by hiring, and how to avoid the traps most first-timers fall into. You’ll find guides on budgeting, comparing lenders, and even how to sell your motorhome if you change your mind. No fluff. Just what actually matters.