Refinancing turns a motorhome you already own into working capital, or replaces an existing agreement with one that suits your circumstances better.
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Yes, in the right circumstances. There are two routes. If you own the vehicle outright, a funder may advance money against it and take the vehicle as security — often called a sale and hire purchase back. If there is an existing agreement, some funders will settle it and put a new one in place. Either way the vehicle has to be identified, valued and shown to be yours. Business owners refinancing a vehicle used commercially are on unregulated terms; individuals refinancing a private leisure vehicle are usually in regulated consumer credit territory.
Used kit: Yes — refinance is by definition a second hand asset, and older vehicles are considered where condition and documentation support a valuation.
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Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
Refinance turns entirely on ownership and value. The funder needs the V5C, the original purchase invoice and a check that nothing is already registered against the vehicle, because they cannot take security on something another lender already holds. Valuation is done on current condition, not what you paid, and a recent habitation check helps. The regulated question bites harder here than on a purchase: raising money against a vehicle you use privately is consumer lending and only funders with the right permissions can do it, and the purpose of the money is asked about carefully. A business refinancing a vehicle genuinely used in the business — a hire unit, a site vehicle, an event support motorhome — is on unregulated terms with a wider choice of funder.
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Auto-Trail Frontier Delaware | Owned luxury coachbuilt motorhome |
| Auto-Trail Imala 730 | Owned family coachbuilt motorhome |
| Bailey Alliance 76-4T | Owned British coachbuilt motorhome |
| Bailey Adamo 69-2 | Owned low profile motorhome |
| Burstner Lyseo TD 690 G | Owned German coachbuilt motorhome |
| Rapido C-Series C86 | Owned French coachbuilt motorhome |
| Chausson Titanium coachbuilt range | Owned French motorhome |
| Hymer B-Class ModernComfort I 680 | Owned integrated A-class motorhome |
| Swift Kon-Tiki 675 | Owned premium British motorhome |
| Adria Coral XL Plus 600 DP | Owned European coachbuilt motorhome |
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Commonly an owner who bought outright with a lump sum — an inheritance, a pension release or a house sale — and now wants some of that cash back without selling the vehicle. Also hire operators releasing equity from a fleet ahead of the season, and owners whose circumstances have changed since the original agreement was signed. The trigger is nearly always a cash need somewhere else rather than dissatisfaction with the vehicle.
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Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
For a straightforward sale and hire purchase back, yes — the funder is buying the vehicle from you and hiring it back, so it cannot already be secured to someone else. Where there is an existing agreement, a funder may instead settle that balance and start a new one, but they will need a settlement figure from the current lender first.
On what it is worth today, in its current condition, rather than the purchase price. Expect the funder to look at trade guide data, recent comparable sales and often photographs. For older or higher value vehicles an independent inspection or a current habitation report may be requested before a figure is confirmed.
It is possible, but it is consumer lending and only funders holding the right permissions can offer it. They will ask what the money is for and carry out full affordability checks, because the protections around regulated agreements are there precisely for this situation. Business owners refinancing a genuinely commercial vehicle sit outside that regime.
Yes. Refinance is not storage or pawn — you keep the vehicle and carry on using it under the terms of the new agreement. You will normally be required to keep it insured, maintained and within the UK or agreed territory, and you cannot sell it while the agreement is running without settling first.
Often not. Taking out a new agreement and then settling it shortly afterwards can cost more than it achieves, and there may be early settlement implications. If a sale is genuinely close, it is usually worth discussing whether a short term arrangement or simply waiting is the better answer. We will tell you if refinancing does not make sense.
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Not an offer of finance. All finance is subject to status, affordability and lender approval.
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 07581 364281 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.