Important Considerations When Funding a Motorhome or Caravan: Take Note!
Leasing a motorhome is an attractive option for many, offering the chance to pay a fixed monthly fee and rent the vehicle for a set period. After the lease ends, you can choose to continue leasing, return the motorhome, or purchase it by paying the current purchase price.
There are two main ways to finance a motorhome: either through the dealer or a bank. Financing through the dealer offers practical on-site processing, but may have fewer loan options and potentially higher interest rates. On the other hand, financing through a bank can provide a wider range of loans and lower interest rates, but requires additional effort for credit selection, as some banks may not participate.
When opting for a motorhome loan, it's crucial to ensure that the amount and term fit your financial capabilities. This involves determining how much credit you can afford and choosing a suitable motorhome that meets both your expectations and financial capabilities, including necessary extras in the calculation.
Motorhome financing is similar to a car loan, but typically involves higher amounts, with new prices often starting at 30,000 € and reaching up to 80,000 €. For instance, a motorhome loan of 40,000 € over 96 months can result in total loan costs ranging from around 9,100 € to almost 13,000 €, depending on the effective annual interest rate.
The average bank interest rates for financing a motorhome typically range between 5.7% and 11.4%, depending on the bank and borrower's creditworthiness. Banks like Santander offer representative rates around 8.5%, while banks like SWK offer approximately 5.7%. Manufacturer financing often features promotional or lower interest rates, but exact comparison rates may vary by manufacturer and specific deals.
Another financing option is motorhome leasing, which offers benefits such as fixed rates and the option to lease a new vehicle at the end of the rental period. However, it also comes with disadvantages, like being only a tenant with the vehicle remaining in the possession of the dealer, and the potential for unexpected additional costs if the motorhome shows heavy signs of use.
Leasing a motorhome without a down payment is possible only if your creditworthiness is excellent and your SCHUFA score has very good values. Making a down payment on a motorhome loan can significantly reduce credit costs. For example, a 20% down payment on a 60,000 € motorhome would result in credit costs of approximately 10,000 €, compared to over 12,300 € without a down payment.
Before visiting the dealer, it's advisable to inform yourself about possible motorhome and caravan loan offers. It is not possible to finance a motorhome on installments without SCHUFA information being checked.
The equipment and fittings of a motorhome are more complex than those of a passenger car, adding several thousand euros to the purchase price. Motorhome financing with a final installment, also known as balloon financing, involves a down payment, monthly installments, and a final installment due at the end of the term. The advantage is low monthly installments in the first years, but there is a risk that the motorhome may not have the value of the final installment at the due date.
In recent years, there has been a growth in motorhome registrations. Between March 2024 and February 2025, 73,709 motorhomes were registered, an increase of 7.3% compared to the previous year. The number of all registered motorhomes exceeded one million in April 2025 for the first time.
Caravans saw a slight decrease in registration, with 21,657 registered between March 24 and February 25, a decrease of 1.5%. Despite this, the demand for motorhomes and caravans remains strong, offering exciting opportunities for those considering this mode of travel.
