Is It Better to Rent or Buy a Motorhome?

Motorhomes give you the freedom to set off on adventures within the comfort of your own personal space. With a range of amenities, these vehicles are a popular option for many travellers, but the big question for many is whether it’s better to rent or buy a motorhome. 

In this blog, we’ll cover the pros and cons of motorhome leasing and purchasing so you can make an informed decision on the best option for you. We’ll explore the cost and commitments of each method and how they contribute to your final decision. 

Are you looking to finance your motorhome? We offer inclusive motorhome finance options at Auto Finance so you can enjoy the right mobile home whether you choose to buy or rent. 

The Pros of Motorhome Leasing

When it comes to motorhome leasing, there are a number of reasons why many people choose to rent instead of buy. These include financial benefits and greater flexibility.

Lower Initial Costs 

When you opt for motorhome leasing, one of the biggest benefits is that you won’t have to pay any large upfront costs. When you purchase a motorhome you’re expected to pay the value of the vehicle in full or a large down payment. A motorhome can cost around £24,000 or more, and many people can’t afford such a large lump sum at once.

Renting a motorhome allows people who can’t afford these upfront costs to enjoy a mobile home without breaking the bank. Renting means you can spread the costs over your desired term, whether that’s a few months or a few years. 

No Long-Term Commitments

If you don’t have any long-term travel plans or you want to see if a motorhome is the right vehicle for you, renting is a great option. This payment method allows you to test a vehicle and travel without having to worry about owning it forever. If you discover you’d prefer a different make, model or vehicle altogether, you have the option to change your mind without being financially tethered to a single vehicle. 

Repair and Maintenance Cover

When you own a motorhome you’re responsible for any costs involved with maintenance or repairs. If you choose to rent your vehicle, your rental company usually takes care of servicing and repairs as part of your payments. You’ll also be able to save time finding repair services as you’ll already have a dedicated provider. 

Flexibility 

When you rent, you’re able to choose the right vehicle for a trip whenever you need it. You can head off on a stand-alone adventure or rent for a few family trips, the choice is up to you. You can also rent different motorhome classes depending on how much space you need for different occasions. 

If you want to know more about motorhome classes, we have a blog delving into the differences. 

Cost Efficiency 

If you don’t frequently travel, then renting is a more cost-effective option. You won’t have to budget for additional fees like insurance, motorhome depreciation or hefty maintenance fees, and you’ll get better value for money if you’re only occasionally travelling. 

The Cons of Renting a Motorhome

Whilst there are several factors that make renting a great option, there are also some aspects that you should consider before making the decision. The main factors that deter many drivers are the lack of personalisation and limited vehicle choice. 

Higher Costs for Long Trips

Renting a motorhome isn’t always cost-effective if you’re a regular traveller. If you use a motorhome regularly the rental costs will often equate to more in the long run than the initial price of buying the vehicle. 

Additional Fees and Limitations 

When you choose to rent, you are also subject to any fees the rental company requests. This can be anything from storage to maintenance fees and this adds a hefty amount to your additional rental payments.

With this type of agreement, you can also encounter mileage limits and usage restrictions. This can include anything from bans on decorating to no-pet policies, which can limit your choices if you have additional requirements when renting. 

Limited Options

When you choose to lease a motorhome, you’re limited to the makes and models that rental companies have available. Particularly during peak travel seasons, you may find it difficult to find the right vehicle for you at the right price. 

Less Personalisation 

When you rent a motorhome, you’re unable to make any upgrades or modifications and even decorating is limited by the majority of providers. This means you won’t be able to make this space personal and more homely to you and instead you’re forced to use the standard amenities. 

Difficult Driving Adjustments

As with standard cars, each vehicle has a different feel when driving. Larger vehicles like motorhomes can be particularly difficult to adjust to and you may even need training to learn how to manoeuvre large mobile homes. Every time you rent, you’ll have to learn how to get to grips with new vehicle controls, whereas owning a motorhome means you become familiar with a single style of driving. 

If you’re concerned about adjusting to driving motorhomes, we have a blog on automatic vs manual motorhomes and which is better for you. 

The Pros of Owning a Motorhome

Just like with renting, there are also pros and cons of owning a motorhome in the UK. When it comes to buying, the main appeal is the idea of ownership and full control over your vehicle and the associated fees. 

Savings in the Long Run

If you love exploring the UK regularly, then buying a motorhome can be a more cost-effective option compared to renting. Each time you rent you’ll have to make several stand-alone payments which can often amount to more than the cost of your initial purchase over time. If you’re concerned about the cost of buying, we have a beginner’s guide to buying a motorhome which breaks down the costs and other factors to consider when making your first purchase.  

No Travel Limitations

When you purchase a motorhome, you’re free to add as many miles to your vehicle as you want, without worrying about any additional fees. You’ll be able to head out on the open road as often or as little as you like, with no penalties for frequent or infrequent use. 

Freedom to Personalise and Customise

One of the most appealing factors to owning a motorhome is the ability to customise and personalise your space however you like. You can add and remove furniture, modernise your interior and upgrade appliances for better performance. You can add everything from new technology to power supplies like solar panels. 

If you’re looking for decor inspiration, we’ve got a blog on creative interior ideas for your mobile home. 

Opportunity to Lease Your Vehicle

If you’re not planning to use your motorhome all year round, you can still get your money’s worth by hiring out your vehicle to other travellers. Motorhome leasing can help you get back some of the money spent on purchasing the vehicle and any costs associated with insurance and maintenance.  

If you’re considering leasing your vehicle, check out our blog ‘Is it worth hiring out my campervan?’ to see if this is the right option for you.

Convenience

Not only will you be familiar with how your mobile home operates, but you’ll have access to your vehicle and all the key amenities whenever you need them. When renting, you have to plan all your trips in advance and arrange to collect your vehicle. Owning a motorhome allows you to be spontaneous and take last-minute trips whenever you feel like it. 

Potential to Resell 

If you decide to upgrade to a new model, you can sell your existing motorhome and earn some money to spend towards your new purchase. Although motorhome depreciation is a concern for many people, keeping your vehicle well-maintained and in good condition can help to ensure you get the best value when you sell.

Options for Motorhome Loans

The majority of people can’t afford to pay for a motorhome outright, but with finance plans like ours at Auto Finance, you’re able to make affordable monthly payments towards your vehicle. 

The Cons of Buying a Motorhome 

For many people, the freedom associated with owning your own motorhome is undermined by the high initial costs and fees associated with ownership.

Higher Initial Investment

It can’t be denied that a motorhome is an expensive investment, even if you’re financially able to afford it. For many people, paying between £20,000 to £50,000 and sometimes even more is simply not a viable option. Even though finance options exist, the price tag alone is enough to deter many potential buyers.

Maintenance and Repair Costs 

Owning your own motorhome means you’re responsible for all the maintenance, servicing and repair costs. You’ll have to complete annual MOTs, pay for replacement tyres and any interior issues like plumbing or electrical repairs. This can add a significant amount of money to your budget on top of the initial purchase payment. 

Potential Storage Costs

A motorhome takes up a lot of space and it’s against the law to park these vehicles on residential roads. If you haven’t got a large driveway or garage, you’ll have to pay additional costs to store your motorhome in a safe, secure and spacious location. This can add even more costs to the price of owning this vehicle. 

Motorhome Depreciation 

Motorhomes tend to lose value over time, and the longer you own your vehicle, the less money you are likely to receive when it comes to selling. If you plan to keep your motorhome long-term, then this shouldn’t be a problem. If however you want to keep up with the newest makes and models, it’s important to be aware that your vehicle will be worth considerably less than the original purchase price. 

Insurance Fees and Tax

It’s a legal requirement to insure your motorhome if you want to drive on UK roads, and this is yet another additional monthly or annual cost you’ll need to budget for. You will also have to pay motorhome road tax, and in some cases apply and pay for a C1 driving license if you have a heavier vehicle.

Renting vs Buying a Motorhome – Which Is for You?

Now you know the pros and cons of both motorhome leasing and purchasing you can identify which is best for you based on the key factors below. 

Usage 

If you’re only planning to use a motorhome a few times a year then the more cost-effective option for you would be to choose a rental vehicle. If however, you want to make a long-term investment and regularly adventure across the UK, then it would be better and more cost-effective to own your motorhome.  

Budget 

It’s important to consider the upfront cost of purchasing alongside all the additional costs that go into ownership including taxes and insurance. If these financial commitments are too much for you, then it’s better to rent a motorhome rather than purchase one. Owning your motorhome will be a better financial decision if you have the funds to pay upfront as this will save you money in the long run. 

Storage Space

You might want to purchase a motorhome, but if you don’t have any space at home or locally to store your vehicle, then this may be out of the question. If you’re dedicated to having a mobile home to call your own, be aware you may have to pay for storage facilities you’ll have to travel to each time you want to use your motorhome. You might even have to consider expanding your driveway or adding a garage onto your property to house your vehicle. 

Flexibility 

If you’re someone who hates planning and wants the freedom to embark on a journey whenever you want, owning your motorhome allows you to do this easily. When renting, you have to make reservations and plans in advance and you can also encounter issues with availability during busy holiday seasons. 

Resale or Renting

Before you make a decision, you should consider if you want to rent out your motorhome or sell it in the future. If you’re interested in letting, you’ll need to own your vehicle to legally rent it to others. It’s also important to research the resale value of motorhomes and whether it’s a good investment to sell your chosen model.

Different brands and models have greater value than others and will therefore be worth more when it comes to selling or renting. Find out the best motorhome brands and manufacturers in our detailed blog. 

Make the Easy Decision with Our Motorhome Finance 

Whether you’re leaning towards motorhome leasing or you’d prefer to buy, opting for finance is the sure-fire option to ensure financial stability and a stress-free experience. Our experts will handle all the paperwork and scour the UK to find you the best deal on your desired make and model. 

If you’re concerned about the cost of funding your dream vehicle, we have a budget calculator that tells you your estimated monthly repayments in just a few easy steps. We want all of our customers to be accepted for a loan, and we offer plans that will help you finance your vehicle even if you’ve already been declined finance before. 

If you’re eager to explore all the sites the UK has to offer, get in touch with our team now and you’ll have the keys to your dream vehicle in your hands in no time!