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How to Finance a Motorhome in NZ

Wednesday, 17 May 2023

How to Finance a Motorhome in NZ

Are you dreaming of owning a motorhome and hitting the road with your lovely family and friends? Owning a motorhome in New Zealand offers unparalleled freedom to explore the country’s breathtaking landscapes!

However, buying a motorhome is quite a big investment for most of us. For many, financing is a great option to make their dreams a reality. In this step-by-step guide, we will help you know how to apply for a motorhome loan in New Zealand, ensuring you make informed decisions along the way.

1. Determine your budget

Before you purchase a motorhome, you should determine how much money you can afford to spend on the caravan. Are you looking for a luxury motorhome or a more affordable one? Do you intend to buy a new or used motorhome? Knowing how much money you can spend will help you find the perfect motorhome for your needs.

2. Research lenders

After you confirm your budget, you should start researching various lenders in NZ to compare their interest rates, loan terms, etc. This step will assist you which lender is most suitable for you. Or you can just come to Credit One, we cooperate with different lenders and will always offer competitive financing options tailored to your needs.

3. Check your credit score

A credit score is a numerical representation of an individual’s creditworthiness based on their credit history, which is quite important and will affect your eligibility for a loan. So before you apply for motorhome finance, knowing your credit score is essential. Credit One can help you verify your credit score and let you know how much motorhome loan you can get.

4. Loan application

Once you confirm the lender you like, you can start applying for your motorhome loan! You may be asked to provide personal information in this step. Examples include proof of income, identification, proof of address and bank statement. This depends on your personal situation and the lender’s procedures.

5. Loan approval

If your application is approved, you will receive a loan offer outlining the terms and conditions. Review the contract carefully.

Consider the interest rates, payment schedule, and any penalties or hidden charges. Make sure to note if there are any hidden fees. Please remember to seek clarification on any areas that you are unsure about.

If you are satisfied with the contract, you can sign the motorhome loan agreement as directed by the lender. Ensure that you understand your responsibilities as a borrower and the consequences of defaulting on payments.

6. Choose your motorhome

Once you’ve been pre-approved for financing, it’s time to choose your loved motorhome! There are many motorhome dealers in New Zealand; compare them all to find the ideal match for you.

Try to bargain with dealers when you find the motorhome of your dreams. To guarantee you obtain the best price possible, thoroughly analyze your negotiation strategy. Keep in mind that the purchase price will affect the monthly payment!


Let’s start applying for motorhome finance and make your dreams of motorhome travel a reality! By following this step-by-step guide, you can confidently manage the financing process and make educated decisions along the way. Remember to establish a reasonable budget, properly investigate your options, and comprehend the terms and circumstances of your loan.

Lastly, we get a very professional broker team who have many years of experience in motorhome finance. If you need any help, please do not hesitate to contact us on 0800 300 500. You can also apply online by clicking here!