Buying a campervan is one of the most exciting purchases you’ll ever make. But for most people, it also means borrowing money — and the finance option you choose can make a significant difference to what you pay overall, and what flexibility you have down the line.

This guide explains your three main options in plain English, with a worked example using a realistic van price. We’re FCA regulated, which means we’re authorised to arrange finance and give you this information — unlike many private sellers or unregulated dealers.

The Three Main Options

Hire Purchase (HP)

HP is the most straightforward way to finance a campervan. You put down a deposit, then pay fixed monthly instalments over an agreed term (usually 2–5 years). At the end, you own the van outright.

What you need to know:

• The van acts as security — the lender owns it until the final payment
• Monthly payments are predictable and fixed
• No mileage restrictions or condition penalties at the end
• You can settle early and pay less interest overall
• Best for: buyers who want to own the van outright and keep it long-term

Personal Contract Purchase (PCP)

PCP works differently. Your monthly payments are lower — but you’re not paying off the full value of the van. Instead, a “balloon payment” (the Guaranteed Future Value, or GFV) is deferred to the end of the agreement. At that point you have three choices: pay the balloon and own the van, hand it back, or use any equity as a deposit on your next vehicle.

What you need to know:

• Lower monthly payments than HP for the same van
• Mileage limits apply — exceeding them means penalty charges
• The van must be returned in good condition if you hand it back
• You don’t own the van until the final balloon payment is made
• Best for: buyers who want lower monthly costs and like the option to upgrade every few years

Personal Loan

A personal loan from a bank or building society gives you cash upfront — you use it to buy the van outright, then repay the bank directly. The dealer is out of the picture once you’ve paid.

What you need to know:

• You own the van from day one
• No mileage or condition restrictions
• Interest rates vary significantly depending on your credit score
• Can be harder to get approved for larger amounts
• Best for: buyers with a strong credit score who want total ownership and flexibility

Worked Example: £45,000 VW T6.1 Campervan

Let’s take a realistic example — a 2022 VW T6.1 campervan priced at £45,000, with a £5,000 deposit. You’re borrowing £40,000 over 4 years.

Figures are illustrative. Actual rates depend on your credit profile and the lender.

The PCP monthly payment looks attractive — but remember, you’ll still owe £18,000 at the end if you want to keep the van. If you’re planning to hold onto it for 5+ years, HP or a personal loan usually works out better value.

What FCA Regulation Means for You

You’ll see a lot of campervans advertised by private sellers, traders, and converters who aren’t authorised to arrange finance. That matters more than most buyers realise.

When a dealer is FCA regulated (as we are), it means:

• We’re legally required to present finance options fairly and transparently
• We must explain the key risks and costs of any product we recommend
• You have access to the Financial Ombudsman Service if something goes wrong
• We’re audited and monitored — we can’t just say what suits us

An unregulated seller can arrange finance through a third party, but they have no obligation to make sure it’s right for you. They also can’t advise you on which option is better for your situation.

Ask any dealer you’re buying from whether they’re FCA regulated, and ask to see their FCA reference number. You can verify it in seconds on the FCA register at register.fca.org.uk.

Surrey Campervans is authorised and regulated by the Financial Conduct Authority. Our FCA reference number is available on request.

Five Questions to Ask Before Signing Anything

1. What is the total amount repayable over the full term?
2. Is there a balloon payment at the end — and if so, how much?
3. What are the mileage limits, and what’s the penalty for exceeding them?
4. Can I settle early, and will I be charged a fee?
5. Is the dealer FCA regulated — and can they show me their reference number?

Not sure which option is right for your situation?

We offer a 45-minute one-to-one consultation for buyers who want honest, independent guidance — including on finance. [Book a consultation for £95 →]

Or if you’re still at the research stage, our [First-Time Campervan Buyer’s Guide] and [VW T6 vs T6.1 vs T7 Comparison] are a good place to start.