The scheme is simplicity itself: you buy a heavily discounted brand new motorhome on the condition that you put it into the motorhome rental scheme for 3 years. The motorhome can be bought with finance that you can arrange yourself or we can help you.
The interesting fact is that in general, just 1 weeks rent will pay for 1 months finance, so clearly if you rent out your motorhome for 12 weeks a year, you have a free motorhome!
If you are in the market for buying a new motorhome you might want to read on, especially if you are buying your first motorhome. Every new motorhome owner always has the intention of taking lots of long holidays and going away almost every weekend, but realistically the motorhome is likely to stay on your driveway for about 80% of the time each year.
During the first three years of ownership the total of VAT, depreciation and finance can easily cost in excess of £27,000. Even just insurance for the motorhome, maintenance, servicing and storage can cost over £9000. But here at Motorhome Freedom we have come up with a new and revolutionary way for you to be able to enjoy a motorhome at a fraction of the price it would cost to buy a brand new vehicle outright.
We have written a guide book to show you how anyone can afford a motorhome. This guide is called ‘Motorhome Options’ and it has been created by motorhome hire experts. The guide is aimed at people who are thinking about buying a motorhome, the people who don’t think they could ever afford a motorhome as well as people who don’t even have room for a motorhome on their driveway.
The guide contains up to date information about how you can enjoy a luxury motorhome without having to worry about finance agreements, big deposits or credit checks. There are also some excellent tax benefits for buy to let motorhomes which are explained in detail in the guide. If you choose the Motorhome Options scheme you agree a fixed monthly fee. There really isn’t a cheaper or easier way to enjoy owning a motorhome.
Using the information found in the ‘Motorhome Options’ guide you will be amazed to find out that owning a motorhome could cost you less than £6 a day. This price includes service and maintenance for three years, storage and cleaning. The guide also contains lots of good advice about choosing the right motorhome. In addition you will find out:
- what layout and size is ideal for your own use
- a cost comparison between using the Motorhome Options scheme and buying your own motorhome
- how you and your family can enjoy hassle-free motorhome holidays
- why there are no expensive interest payments, credit checks, or finance agreements.
All you need to do now is fill in the application form and find out how you can start enjoying a motorhome for about £6 a day.
Tax Benefits for Buy to Let Motorhomes
If you decide to buy a buy to let motorhome there are some interesting hidden benefits about the way your motorhome and its associated income is treated as far as taxation is concerned. One of the immediate savings is for those who are VAT registered, who can buy a brand-new motorhome and reclaimed the entire VAT on the purchase price. The money reclaimed here can be used to pay the deposit.
Any income you get from hiring out your motorhome is is to be declared as taxable income, but in reality all the running costs, repairs and the interest you pay on the vehicle’s finance are all tax deductible expenses. You can also claim back money spent on consumables such as bedding, crockery and even your own trips to motorhome shows. The reality of this means that it is pretty unlikely that you will pay any tax at all on your rental income.
If you have an accountant do talk to them about depreciation of the motorhome, they will be able to confirm that you can write off up to 40% of the initial purchase price of the motorhome in first year against your own taxable income. After this first year has passed you can then write a about 25% of your motorhome against tax for the subsequent three years.
So from what we have said so far this means that it is highly likely that you are going to be paying all of your motorhome’s costs after tax. This gets even better because if you were to register your motorhome as a vehicle used for hire, 100% of your expenses could be subtracted from your taxable income and it is possible that you could even qualify for a tax rebate. So this means that the UK government is actually paying you to own your own motorhome!
If you eventually decide to sell your motorhome any loss you may is also tax allowable. You may want to check the points above with your accountant or an independent financial adviser, but as you can see owning a motorhome in this way is a very sensible decision.