Motorhome and campervan finance in New Zealand

The short answer

Most motorhome loans are secured vehicle loans. The lender registers its interest in the van on the Personal Property Securities Register (PPSR), you make fixed repayments, and if you stop paying the lender can repossess and sell it. The same applies to a campervan. What changes from a car loan is the size of the loan, the age of the vehicle and the extra costs of owning a home on wheels.

Fair Finance is a referral service, not a lender. We send one application to a panel of approved NZ lenders, and each lender decides case by case whether a particular van fits its rules. We cannot say which vans or uses a lender will accept, so the sections below are about what to check before you apply.

Who offers motorhome and campervan loans

You will meet four kinds of lender:

• Banks and credit unions. They may offer a personal loan, secured or unsecured, which you spend on any van. See secured vs unsecured car loans for how the two differ.
• Specialist vehicle lenders. Finance companies that lend against cars, caravans, motorhomes and other vehicles, with their own age and value rules.
• Dealer finance. The dealer arranges a loan from one of its lenders. Ask for the rate, fees and total repayment in writing.
• Referral services and brokers. They pass your details to lenders. Our page on car finance brokers explains how that differs from going direct.

One published lender page lists fixed rates from 8.45% to 29.95% a year over 12 to 60 months, with an establishment fee of up to $450 and a separate introducer fee. A 2021 NZ guide compared four lenders on a $60,000, four-year loan and found rates between about 9% and 13%. Both are only examples. Your rate depends on your income, your credit file, the deposit and the vehicle, and it will not match a headline figure.

What lenders look at on a motorhome

A lender judges you first. Under the Credit Contracts and Consumer Finance Act, it has to make reasonable inquiries so that you can afford the repayments without substantial hardship. That means income, spending and your credit file. If your file has marks, our page on low credit score car finance explains how lenders weigh them.

Then the lender looks at the van, because it is the security:

• Age. Many lenders cap the age of the vehicle at the start of the loan, and the cap for motorhomes can be tighter than for cars. A 2022 lender product guide set five years for caravans and motorhomes. Others differ, so ask.
• Value and mileage. A van that is expensive for its age, or has very high kilometres, is harder to lend against.
• Condition. Lenders and guides both say they will ask whether the vehicle needs repairs or updating.
• Where it came from. A dealer sale, a private sale and an imported van are treated differently. Our guide to financing from a private seller covers the private route.

Older motorhomes: the realistic options

A cheap older campervan is where people are most often disappointed. If the van falls outside a lender’s age limit, you still have choices:

1. A bigger deposit and a smaller loan. Saving more, or putting a trade-in towards the deposit, shrinks what you need to borrow. Our page on how much deposit you need shows how a deposit changes the lender’s view.
2. A personal loan instead of a vehicle loan. One guide suggests this for a smaller used van. Unsecured personal loans can cost more than secured ones, so compare the total cost, not the weekly figure.
3. A shorter term. On an older vehicle, avoid a term that outlasts the van’s useful life. If the engine or gearbox fails in year three of a five-year loan, you still owe the balance.
4. Waiting. A year of saving can change the van you can afford, the rate and the lender’s view of you.

Self-contained certification: what it is and what it is not

If you plan to freedom camp, you will see “certified self-contained” on listings. It helps to know what that means before you pay a premium for it.

According to the NZMCA, certification is done under the Plumbers, Gasfitters, and Drainlayers (Self-Contained Vehicles) Regulations 2023. A certified vehicle can meet its occupants’ sanitary needs for a minimum of three days without external services or discharging waste. The NZMCA says:

• Members with a fixed toilet can choose an NZMCA certificate and yellow warrant card, or pay a $120 levy for the government certification and a green warrant card, which allows freedom camping where certification is required.
• A vehicle with a portable toilet can get an NZMCA certificate and yellow card, but it is not entered on the government register, so it cannot be used for freedom camping.
• The NZMCA inspects only for current financial members and preferred commercial partners. Others use other certification authorities, which charge fees.

What this means when you buy: ask to see the warrant card, check which colour it is and what it says about the toilet, and ask the seller or the certifier when it expires. Rules and transition dates have changed in recent years and sources disagree on some of them, so confirm the current position with a certifier or on the NZMCA and Plumbers, Gasfitters and Drainlayers Board sites. We found no official rule tying self-containment to loan approval. It is a question about where you can legally stay, not a finance requirement.

Insurance

Lenders generally want proof of insurance before they release funds, because the van is their security. Premiums vary with the van’s age, value, how you use it and where it is kept, so get a quote on the exact vehicle, with the finance in mind. Ask about:

• agreed value or market value cover, and what happens if the van is written off while you still owe more than it is worth
• cover for contents and fitted extras, such as solar panels, awnings and a bike rack
• limits on use, such as full-time living in it or hiring it out
• storage and security conditions

Running costs to budget for

The repayment is only part of the cost. Build a monthly figure that includes:

• fuel, which is usually heavier than a car
• road user charges if the van is diesel or heavy. NZTA publishes the rules, so check whether your vehicle needs a RUC licence
• registration, a warrant or certificate of fitness, and servicing
• insurance
• campsite fees, storage if you have no space at home, and gas and water
• a repair buffer, since older vans break

Also check that your driver licence covers the weight of the van. NZTA sets licence classes by weight, so look at the vehicle’s rated weight before you buy.

A worked example

The figures below are made up to show the method. They are not a quote and not a rate any lender will offer you.

	4-year term	5-year term
Van price	$65,000	$65,000
Deposit (10%)	$6,500	$6,500
Loan	$58,500	$58,500
Rate (illustrative)	14% a year	14% a year
Repayment per month (approx.)	$1,599	$1,361
Total repaid (approx.)	$76,750	$81,670
Interest paid (approx.)	$18,250	$23,170

The longer term cuts the monthly repayment by about $240 and costs about $4,900 more overall. Add fuel, insurance, registration and a repair buffer on top of the repayment, then ask if the full monthly figure fits your budget with room to spare. The repayment calculator will let you test your own numbers. Rates, fees and terms are the lender’s decision, so use the calculator as a guide only.

Business or work use

If you are buying a van to hire out, to live in for work, or as an office or accommodation for a business, tell the lender. Consumer Protection says credit for business or investment purposes is largely outside the Credit Contracts and Consumer Finance Act, and lenders may ask for a declaration of the purpose. That can change the paperwork and the protections you have. For tax and GST, see Inland Revenue (ird.govt.nz) or ask an accountant, because we cannot give tax advice. Our page on business vehicle finance covers the wider picture.

Red flags

• A van with finance owing on it. Run a PPSR check before you pay anything.
• A loan term longer than the van’s likely life.
• A dealer who quotes only the weekly repayment. Ask for the rate, every fee and the total to repay.
• A seller who cannot show a current warrant or certificate.
• No pre-purchase inspection. Water leaks, gas fittings and rust are expensive to find later.
• Anyone promising approval before they see your income and credit file.

How Fair Finance helps

Fair Finance is a referral service, not a lender. One application and one soft credit check go to a panel of approved New Zealand lenders, so you do not need a hard check at each one. Lenders decide case by case, including which vehicles and uses they accept. We are paid by the lender only if a loan settles, and that never changes your rate. Start with the quick check or go straight to the application.

Checklist

• Decided on the maximum loan and the monthly total including running costs
• Checked each lender’s age, value and use rules for the specific van
• Deposit saved, or trade-in valued
• Insurance quote on the exact vehicle
• PPSR check and a pre-purchase inspection done
• Self-contained warrant checked, if freedom camping matters to you
• Licence class and road user charges checked on NZTA
• Rate, fees and total repayment in writing

General information only, not financial advice. Rules, rates and lender criteria change, so check the official pages below.

Sources

• NZMCA: Certified self-containment (CSC)
• NZMCA: New self-containment certification programme
• Consumer Protection: Credit Contracts and Consumer Finance Act
• Consumer Protection: What lenders must do
• NZTA: Road user charges
• Camplify: How to finance a motorhome (2021)
• Avanti Finance: Auto product guide (2022)
• Inland Revenue