Is a motorhome a good investment is a question many beginner camping enthusiasts ask themselves.
Whether you want to save money on your family holidays or you simply enjoy having the freedom to go camping for the weekend, there are many reasons you might be interested in buying a motorhome. While a motorhome can have great investment potential, there are things to consider in order to determine if it would be the right choice for you.
If you’re looking into buying a motorhome then you’ve come to the right place. In this article we will answer the question “Is a motorhome a good investment?” by looking at the benefits of owning a motorhome, when is the best time to buy one and how to make your investment profitable.
Is a Motorhome a Good Investment?
So, is a motorhome a good investment? Overall, motorhomes are a secure investment if you can budget for one. There are many benefits to investing in a motorhome including the freedom and flexibility to travel at your own leisure, having a mobile base when camping and a lot more. However, there are also many factors to take into consideration. Here are some of the things you should consider before buying a motorhome:
New or Used
One of the first things to consider when making the decision to purchase a motorhome is whether you should buy a new or used one.
Used motorhomes are generally more affordable than new ones, so if your budget is smaller, buying a second-hand vehicle could be a better option. However, a used motorhome may drop in value depending on its age, mileage and condition.
If you’re planning to get some use of your motorhome for a few years and then sell it, a new motorhome could be a better investment as it will hold its value, so you’ll be able to get as much of its original value as possible.
Finance or Buy Outright
When buying a motorhome many people ask themselves whether it’s a better decision to finance or buy outright. Which of the two options is more suitable for you depends on your personal circumstances.
Younger people who may not have the finances to pay for a motorhome in cash, but have a steady income might find it’s better to finance a motorhome and sell it when it’s all paid off. However, it’s also important to factor in the impact that the monthly repayments will have on your financial situation to determine whether it’s a viable long term investment.
On the other hand, older people with more savings will likely be in a position to pay for a motorhome outright. If you are planning to keep hold of your motorhome for a long time, this might be a better option as over time it will pay dividends.
Work out the Costs Beforehand
There are more costs to buying a motorhome than just the price of the vehicle itself. You have to consider that you will have to pay for ongoing vehicle maintenance, insurance as well as any additional accessories you want to add to your motorhome. In addition, you also have to keep in mind that you’ll have to spend money on fuel.
Before you invest in a motorhome, calculate all the costs associated with owning a motorhome to ensure you can afford to run and maintain it.
Do Motorhomes Hold Their Value?
A question we come across often is “Do motorhomes hold their value?”. While motorhomes hold their value much better than cars, most of them won’t retain value indefinitely. With many changes in styles and layouts and technological advancements, the value of older motorhomes can drop over time in line with the age of the vehicle when you buy it. If you want to protect your investment for a longer time, buying a new motorhome is a better option as long as you can afford it.
A well-maintained motorhome from a well-known, trusted brand will stand the test of time and ensure you get the best value for your money. There is no specific model or chassis type that will depreciate slower, but as long as you choose a reputable brand and take the appropriate care for your motorhome, your investment should hold its value better.
When is the Best Time to Buy a Motorhome?
There is no particular “best time” to buy a motorhome. The most important thing is to make sure you get the right one for your needs. However, during the off-peak tourist season there is lower demand and a wider choice of vehicles, models and brands.
The motorhome season usually starts from early to mid-spring and ends in autumn as the weather gets colder and wetter and the days get shorter. If you’re looking to buy a motorhome for the next season a good time to start looking is around October-December. This is the time of the year when most new motorhome are released and enthusiasts decide to upgrade and part exchange their old one.
If you decide to buy a motorhome during the off-season, you may get a better vehicle for your budget or find the exact model you’re looking for at a better price.
How to Make Your Investment Profitable?
If your long term plan is to make your motorhome pay for itself it’s a good idea to plan how you would make your investment profitable before committing to spending thousands of pounds on a motorhome.
It’s a good idea to look into trends and features that make a motorhome desirable and will aso stand the test of time. USB ports for charging your phone or bluetooth speakers are some of the modern features that people look for in a motorhome, while an old-fashioned built-in DVD player won’t be as desirable.
Next up, you should also decide how many holidays you want to go on, find out how much it would cost without owning a motorhome and then calculate how much money you can potentially save. This will give you a clear idea if buying a motorhome will save you money in the long run.
Lastly, think of ways to make a profit on your motorhome when you aren’t using it. Renting out your motorhome can be a good way to make some extra money and make your investment pay for itself.
Invest in a Motorhome With Venture Caravans
Ready to invest in a motorhome? Here at Venture Caravans you can find a stunning range of new and used motorhomes from leading manufacturers. Browse the full selection of motorhomes currently available at our dealerships in Hitchin and Daventry. To request more information or book a viewing, don’t hesitate to get in touch with our team today!
Author
This blog was written by Dave Brown. Dave is a Director of his family business which began in 1971. He has a wealth of experience in this sector starting as a workshop apprentice straight from school in 1982. Married with two children, Dave has been an enthusiastic Rugby player since the age of 8, only retiring this year. He will now spend more time travelling in his VW Campervan and watching his favourite team, the Northampton Saints.