Best way to purchase motorhome

brenny66

I will soon be looking to purchase a new Motorhome.  The cost is in the region of £60K. Following an inheritance, I will be in a position to purchase outright but wonder if that is the best/safest way to proceed. The purchase will be from a reputable dealer.
Alternative  considerations might be to finance the deal via Black Horse loans or perhaps through a personal bank loan. One advantage of this might be to secure the purchase in event of subsequent problems with the vehicle.
Maybe outright payment with say £1000 paid on credit card would be sufficient.
Your views would be appreciated. 
Thank you. 

daveyjp

Credit card protection under Consumer Credit Act s75 only applies for purchases under £30,000.

neilmcl

The credit card wont help as you would exceed the limit for a section 75 claim, which is £30,000. A linked finance agreement is slightly different as the limit is £60,260 of credit but I'm not sure if they would be still liable once the finance has been settled.

Unless you get any extra dealer contributions or discounts to the sale price then I wouldn't bother with any form of credit. Have you tried looking at "nearly new" motorhomes, you could probably make significant savings from the price of the new one.

lordmountararat

Have you tried looking at "nearly new" motorhomes, you could probably make significant savings from the price of the new one.

Not only that, but a previous owner will have had to sort out all the problems. New motorhomes are notorious for niggling faults, which will be put right under warranty, but are still really annoying. Perusing any of the motorhome journals will show the issues encountered by many buyers of new motorhomes, even the most expensive..

burlingtonfl6

You might be better with a new one due to used prices being through the roof.

macman

Can you split the purchase across more than one card and thereby retain S75 rights?

[Deleted User]

It’s the purchase price that matters, not how much you pay on the card. 

treeroy

I would echo the suggestion of a nearly new one. There are quite a few around because people buy them, have them for 1 or 2 years, and realise they never use it, so sell them. Barely used but probably got stuff fixed. Like said above, motorhomes are not made to a high standard, despite the price tag.

neilmcl

macman said:

Can you split the purchase across more than one card and thereby retain S75 rights?

That's not how it works.

born_again

macman said:

Can you split the purchase across more than one card and thereby retain S75 rights?

No you can't...
S75 works on item purchase price. 

Herzlos

What kind of finance deal is the dealer offering? You may find that if you get a low enough rate it's cheaper to take the credit and invest the cash (assuming the investment pays more than the finance costs)