Germans enjoy vacationing in a motorhome and enjoy the flexible independence of moving from place to place. A new motorhome is usually beyond your financial limits; depending on the model and size, between 50,000 and 100,000 euros are realistic, but as always there is room for improvement. A used motorhome saves tens of thousands of euros and fulfills the mobile, independent holiday wishes even with a higher mileage.
Nevertheless, those interested have various questions that concern financing on the one hand and purchasing safely from private individuals or dealers on the other. The following article compares the popular types of financing, leasing and mobile home loans, and gives tips on what to pay attention to when making a purchase, from the selection to the conclusion of the contract.
Financing: leasing or mobile home loan
Used motorhomes are available for as little as 3,000 euros; depending on your personal requirements, the price can be in the five-figure range between 10,000 and 20,000 euros or higher. Whether it's 3,000 euros, 10,000 euros or more - very few people have cash reserves these days because life is becoming more and more expensive. When purchasing a used motorhome, you can choose between leasing or a motorhome loan.
leasing
Private leasing of used motorhomes offers the advantage that the lessee does not have to commit to a specific motorhome for a long time. Short leasing periods and tailor-made leasing contracts also make this form of financing attractive. In addition to a down payment, the lessee pays fixed monthly leasing installments for the vehicle rental for the leasing term; he does not acquire ownership of it. Maintenance, servicing, repairs and insurance are covered by the lessee when leasing an RV.
At the end of the leasing period, he returns the motorhome to the lessor (usually a dealer) and can choose a different model with a new leasing contract. This means that the lessee is not permanently tied to a specific motorhome and can “test” different models extensively. With a purchase option in the contract, he secures the right of first refusal if he wants to acquire ownership of the motorhome at the end of the leasing period.
A distinction is made between the leasing variants: residual value leasing and kilometer leasing. Depending on the variant, a determined residual value of the vehicle or a specified mileage is entered in the leasing contract. If the actual values at the end of the leasing period do not correspond to the determined values, the lessor or lessee will make up the difference.
Special care and careful handling of the leased motorhome is essential, as accidents, long maintenance intervals or high mileage increase the risk of depreciation and the lessee ends up paying.
RV loan
The mobile home loan as a car loan on installments can be found as dealer financing through car banks, but also renowned car banks themselves, manufacturer-linked or manufacturer-independent, as well as various other banks and savings banks offer car loans. The terms can vary from 12 to 120 months; the target interest rate is fixed for the entire loan term, as is the amount of the monthly installments. A deposit is optional, but not required, especially with online financing. The interest rate can depend on your creditworthiness. The better this is, the cheaper the interest rate will be. Long terms allow for low monthly payments, but this makes the interest a little more expensive. With a classic car loan, the vehicle title is retained by the lender.
A comparison, for example at https://www.autokreditevergleich.de/wohnmobil-finanz/ , is definitely advisable, also with regard to the conditions that affect the repayment, e.g. the possibility of installment breaks, special repayment options, early repayment without additional costs. With a car loan for motorhome financing, buyers can benefit from the dealer's cash discount.
In addition, credit financing alternatives for used motorhomes include balloon financing or 3-way financing, which are usually processed through dealers. Balloon financing, also known as final installment financing, is characterized by a high one-off payment (final installment) at the end of the term. The monthly rates are therefore very low. The final installment is a residual value at the end of the term that corresponds to the subsequent sales proceeds of the vehicle. A deposit is sometimes required. The 3-way financing has the same conditions as balloon financing, with low monthly installments and a high remaining installment; a deposit is required here. However, it gives the borrower three options at the end of the term:
- Payment of the final installment in one amount
- Follow-up financing for the final installment with a car loan
- Return vehicle to dealer
The vehicle return is only zero for the borrower if the determined residual value corresponds to the actual residual value. If the value deviates downwards, the borrower must pay the difference.
Both balloon financing and 3-way financing are options for buying a used motorhome if payment of the high final installment is certain from the start or, in the case of 3-way financing, the borrower does not make a definite commitment in advance want.
The first steps: Which motorhome? Who to buy from and the best time to buy?
Before comparing offers and the actual testing phase, those interested should be clear about certain relevant points of the used motorhome. This includes structure, size, space requirements, comfort features, emission class, environmental sticker, budget and possibly also a specific brand. Once these parameters have been determined, an initial pre-selection can be made based on sales advertisements on special online portals, in daily newspapers or at local dealers.
The offers from private individuals are often cheaper, but many additional expenses may have to be taken into account before the purchase (short-term license plates for test drives, transfers, check-ups in the workshop, etc.). Anyone interested in buying should make sure that the private seller is also authorized to sell the motorhome (proof of ownership through vehicle registration document, power of attorney from the actual seller, identity card). The purchase contract should definitely be concluded in writing; relevant templates can also be found on the Internet for private purchases. Buying from a dealer offers the advantage of a used car warranty. Whether buying privately or from a dealer - trading is allowed. Prospective buyers should create a good basis by recording defects and problems or deficits in writing during the inspection and test drive.
Once an initial overview is given, the price offers of the models under consideration should be compared with the current vehicle values in order to rule out an overpriced purchase. Prices are also cheaper outside of the main holiday seasons.
Check inside, outside and electrical
Potential buyers should always take enough time for an initial viewing and make an appointment with the private or commercial seller. When making an appointment, the buyer should also emphasize that all relevant vehicle documents, including evidence of retrofits or special installations, are available at the time of the viewing appointment. Then it’s time for the actual check, which includes the following checks:
- Examine the outer skin carefully and check for any damage or cracks
- Check tire condition and tread depth
- Examine the tightness of the interior carefully: Leaks and water damage are serious defects that are not always apparent at first glance. Signs include damp spots, water residue, mildew, musty smell, mold formation. A moisture meter can be used to scan the walls and reliably determine the level of moisture. Sometimes a visit to the workshop, where the motorhome is put on the lifting platform, can provide information.
- Assessing the sanitary facilities and testing their functionality
- Check the water supply - are the water supply and hot water preparation working?
- Checking the on-board electronics/technology: lights, cooling systems, general power supply
- Checking the gas pipes for leaks (by the workshop/TÜV)
- Determining the weight of the motorhome if there is any uncertainty about subsequently installed parts with regard to the payload capacity (TÜV)
Test drive
The test drive gets down to business. You don't always have to be an expert; common sense and gut feeling provide a lot of information here. A companion isn't a bad idea either, because two people see, hear and notice more. If you have major concerns, a check at a specialist workshop or at the TÜV is an investment that is worth it.
Before, during and after the test drive, these checkpoints are in the foreground:
- Inspect the engine compartment, paying particular attention to leaks and oil deposits
- Starter: Does the vehicle start without any problems or does it take several attempts to start?
- For vehicles with an on-board computer: Is the electronics intact, do all displays work?
- Test headlights, individual light functions (side lights, low beam, high beam, turn signals, hazard lights, rear fog lights), signal tone, electronic displays
- Try windshield wipers
- Engine running: loud, quiet, jerky, noticeable unnatural noises?
- Clutch: smooth, stiff, problems with different gears?
- Braking function and braking distance: Test the foot and hand brakes!
- Check the function of the heating and, if necessary, air conditioning, radio, CD player, etc
- Pay attention to noises from the wheels or bumpers
- How does the acceleration show up?
- Do indicator or warning lights come on while driving?
Another tip: Once the vehicle has been started, first drive forwards or backwards a few meters, get out and check whether there are relatively fresh spots under the vehicle, as this could indicate a leak in the engine compartment.
If you notice irregularities during the test drive that you cannot explain yourself, you should consider calling in a specialist. A check by TÜV or Dekra can provide information and security here.
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