Important Considerations for Funding Your Motorhome or Caravan: Don't Ignore These Crucial Points!

Financing a Motorhome: What You Need to Know

For those considering the purchase of a motorhome, understanding the various financing options available is crucial. This article aims to provide a clear and concise guide to motorhome financing, covering everything from the factors influencing loan interest to the advantages and disadvantages of different financing methods.

Factors Affecting Motorhome Loan Interest

The interest rate for a motorhome loan can vary significantly, depending on factors such as the loan amount and your creditworthiness. A good credit score and a stable income can help secure a more favourable interest rate.

Bank Financing vs Dealer Financing

Financing a camper can be done either through a dealer or a bank. Bank financing offers a wider range of loans and potentially more favourable interest rates, but requires additional effort for credit selection and some banks may not participate. On the other hand, financing through the dealer has the advantage of easy on-site formalities, but may have less loan selection and potentially higher interest rates.

Conditions for Bank Financing

Banks typically require a positive creditworthiness check, a permanent employment contract, regular income, and a balanced household budget. Banks may refuse financing if these financial criteria are not met. Financing a motorhome on installments without SCHUFA (creditworthiness) checks is not possible for the amounts in question.

Leasing a Motorhome

Leasing a motorhome is an alternative financing option, popular due to its fixed monthly payments and the option to buy the vehicle at the end of the lease period. However, disadvantages include being only a tenant, potential additional costs due to heavy wear and tear, and difficulty in early termination of the lease agreement.

Balloon Financing

Balloon financing, or 3-way financing, has low monthly installments in the first years, but risks the motorhome not having the value of the final installment at the end of the term.

Costs of Motorhome Financing

The total cost of a motorhome loan depends on several factors, including the loan amount, interest rate, and term. For example, a motorhome loan of 40,000 € over 96 months with a low effective annual interest rate of 5.42% would result in around 9,100 € in total credit costs. A motorhome financing with a final installment of 60,000 €, with a down payment of 10,000 €, 20,000 € in monthly installments, and a final installment of 30,000 € would cost around 10,000 € in credit costs.

Leasing a Motorhome without Down Payment

Leasing a motorhome without a down payment is possible under certain conditions, but requires excellent creditworthiness and a good SCHUFA score.

The Increasing Popularity of Motorhomes

The popularity of motorhomes has been on the rise, with the number of registered campers exceeding 1 million in April 2025, marking a significant increase compared to previous years. In March 2024 to February 2025, 73,709 campers were registered, representing a 7.3% increase compared to the previous year. However, the registration of caravans decreased by 1.5%, with a total of 21,657 registered between March 24 and February 25.

Considerations When Financing a Motorhome

When financing an expensive motorhome, it's important for the amount and term to fit one's financial capabilities. This involves considering how much credit one can afford for a motorhome and choosing a suitable motorhome that fits both expectations and financial capabilities. It's also advisable to accurately calculate the credit requirement, including the cost of necessary extras.

Informing Yourself Before Visiting a Dealer

Before visiting a dealer, it's recommended to inform oneself about possible motorhome and caravan loan offers. This can help you make an informed decision and negotiate the best possible deal.

In conclusion, financing a motorhome involves careful consideration of various factors, including loan amount, interest rates, and financial capabilities. Whether you choose to finance through a bank or a dealer, or opt for leasing, understanding the pros and cons of each option is key to making the right decision.

Important Considerations for Funding Your Motorhome or Caravan: Don't Ignore These Crucial Points!