7* Year Vehicle Loans

*applicable to cars, caravans, motorhomes and motorbikes only, under 10 years old and above $20,000

Credit One logo

5 Factors to Consider Before Getting Motorhome Financing

Tuesday, 21 September 2021

5 Factors to Consider Before Getting Motorhome Financing

If you’re planning on taking your adventure experience to the next level, getting motorhome financing is one of the best options to leverage. But here’s the thing; buying a motorhome can be overwhelming despite the many motorhomes for sale with finance options in the market today.

The decision to take out a motorhome loan requires you to weigh several options. At Credit One NZ, we understand there’s more to consider than the figures on a motorhome finance calculator. That said, here’s what will influence your motorhome financing.


While your motorhome is an investment, have a considerable budget to avoid overspending and inconveniences. Start with narrowing down your options based on the motorhome model you can afford. Again, opt for motorhome finance you can manage to pay for comfortably.

Ensure you are realistic, as failure to honor the lender’s terms and conditions can have severe repercussions like damaging your credit. The good thing is with a good financier like Credit One NZ, you have a chance to get the best vehicle financing in NZ.


A quick evaluation of your income can save you from making the wrong financing decisions. Motorhome financing in NZ is no different. Your income flow will determine your eligibility during a motorhome loan application.

Figure out if your current income can allow you to secure your loan without stretching your finances, taking into account the interest rate, monthly payments, and total loan amount. It’s easy to shop around for your preferred motorhome when confident your finances are enough to cater for the loan and all other expenses.

 Credit Score

Your credit score will help determine the choice of a lender, whether you’ll secure a loan, and the terms attached. For most lenders, a good credit score will get you a motorhome loan at favorable terms, unlike a fair credit score. Lenders perceive applicants with a decent credit history as capable and promising borrowers.

But that’s not enough. Your fair credit score may still get you the loan but won’t land you the best deals. You stand a chance of getting the best offers from a reputable lender. For instance, Credit One NZ will finance your desired motorhome at a lower interest rate and loan amount.

 Vehicle’s Seating Capacity

The motorhome’s tagged price depends not only on the vehicle’s model but also on the seating capacity. Before shopping for a potential lender, think of the number of people you’d wish to carry in the motorhome. It’ll help you determine what type of vehicle and thus the budget you’ll need to secure your desired motorhome. With that, you can narrow down your financing options.

 Type of Motorhome to Finance

Are you willing to finance a used or new motorhome? Either choice will influence your principal amount and the cost of credit. New motorhomes come equipped with modern technology and in perfect condition. Used motorhomes are, most often, previous models with used amenities and potential wear and tear. But regardless, you’re likely to spend more on a new motorhome than it would cost to finance a used one.

 Get Motorhome Financing Today

Ready for the best motorhome finance in New Zealand? Consider the above factors and secure your motorhome loan with a New Zealand reputed vehicle finance lender. At Credit One NZ, we have access to financiers of all recreational vehicles at competitive prices. Call 0800 300 500 to speak to our finance experts today.