Welcome to the world of savvy used camper & motorhome shopping! Before you embark on your next adventure on the open road, here’s a concise guide to help you make a secure and reliable purchase.
Budgeting is your initial step. It’s not just about the monthly payment, but also about considering the total cost of ownership, which includes interest, insurance, parking, and maintenance. Striking the right balance between the acquisition cost and long-term expenses is key.
Financial Planning for Your Purchase
Securing financing for a used camper & motorhome comes with notable differences when compared to obtaining a loan for a new vehicle. Lenders often charge higher interest rates for used camper & motorhome loans due to the perceived higher risk. The value of used camper & motorhomes is less predictable, making lenders cautious. Moreover, the potential for higher repair costs can compete with timely loan payments. However, if you opt for a relatively new or certified used camper & motorhome, you may find lenders willing to offer loan terms similar to those for new vehicles.