We get two questions all the time at Goboony:
1. How much does it cost to own a motorhome?
2. Can I earn this money back by hiring out?
So let's start with how much it costs to own a motorhome per year. Roughly, you're looking at £1,500 to £3,000 per year in insurance, storage, tax and maintenance. There are many factors that influence this, all of which we'll cover in this article. We'll look at the fixed costs of owning a motorhome, everything that comes after buying your vehicle.
And in terms of whether you can earn it back, check out how much you can earn through hiring out your motorhome. Hint: you'll have profit to spare!
Insurance for your motorhome
The cost of your insurance depends on a variety of factors. The factors include the age, value and make. Different rates also apply per insurer, where you store the vehicle, your license points and if you have security on the vehicle. We estimate around £500 to 1000 for personal insurance on a campervan or motorhome. But the good news is that motorhome hire insurance can be arranged via Goboony for a daily rate, meaning you only pay when it is on the road!
Motor vehicle tax
For a motorhome you pay a quarterly rate, which means that you pay taxes for a quarter and can drive all year round. The amount of the tax depends on the curb weight of your motorhome and the province where you live. For the tax costs you can generally keep between £ 900 and £1000 per year for an average motorhome with an empty weight between 2900 and 3000 kg. You can calculate exactly how much you have to pay on the website of the tax authorities. Also watch our video on road tax if you want to know more about it.
Maintenance costs
This can vary greatly with age and maintenance history of your vehicle. On average, an annual amount can be reserved for this from £ 350 to £ 650. Some years, the bill might be a bit higher than the other years. These differences often come from the differences between major and minor maintenance. This is a very important cost item for maintaining your motorhome. You should get servicing and a habitation check if your warranty needs it. We also recommend you do it regularly on certain mileage markers and annually to keep on top of things and Winter is a good time for this. We would highly recommend you contact the Approved Workshop Scheme for help with annual servicing.
Storage
Not everyone needs specific campervan storage. For those who do need this, the costs depend on the place where you are going to store it. Prices near the big cities are significantly higher than in rural areas. In an indoor facility in the Midlands we found, for example, costs £650 per year in a barn, but can go up to an additional £100 per month in the big cities, and sometimes even higher. You can sometimes also opt for outdoor parking in an open area. These are a bit more price-friendly than covered parking facilities. We also recommend checking out Stashbee, the go-to platform for finding local motorhome storage at affordable prices.
Depreciation
Depreciation is highly dependent on the purchase. Was the motorhome new or used when purchased? Are there clear signs of use? If you want to get an indication of a depreciation percentage, see what a comparable motorhome of an older age should cost now. You will then get a global impression of what to expect. Fortunately, the demand is now high and the supply small, so the depreciation is very friendly. It’s not a cash item that you pay annually but will decrease the price you get for the vehicle when you sell.
Are you considering renting out your motorhome?
Are you not a lessor yet and are you curious about what you can earn by renting out your motorhome? Calculate how much you can earn.
