You’ve finally bought yourself a campervan, but you’re worried about it sitting idle. Why not earn some cash by renting your van to other keen campers?
Data shows that the converted Ford Transit or a Mercedes Sprinter, with asset values ranging between £10,000 – £15,000, can earn £3,307 a year through rentals alone. Vans converted by owners can also be equally lucrative.
While low-end vehicles have the cheapest price per night at £104 during high season and £85 in low season, the low overall value of the vehicle offers amazing returns on the original investment.
It would take just 3.7 years – with 35 nights booked per year – to earn back the original value of the vehicle. With each van having an average lifespan up to 28 years, it has the potential to make up to £60,000 before being taken off the road.
The mid-range Volkswagen T5 Campervan is popular with renters with an average value of £40,000, and at £125/£109 per night in high/low season respectively, can make £4,095 annually – yielding around 10% per annum and resulting in a payback on investment of 9.7 years and lifespan earnings of £98,280 but retaining strong residual values.
High-end vehicles take the longest to make back that initial investment, but have the potential to make more money over a longer period of time – are perhaps more suitable for family usage and retain a higher value on sale.
For example, the Fiat Roller Team Motorhome, at less than five years old, is worth more than £40,000 but has higher rental rates of £154 per night in high season and £130 in the low season giving owners potential base annual earnings of £4,900.
It would therefore take eight years to make back a £40,000 investment on these annual earnings, but over the remaining vehicle’s lifespan it could earn the owners a profit of £77,600, with overall earnings of £117,600.
How to get the best value out of your campervan or motorhome:
- The highest-earning used motorhome and campervan vehicles could earn a £60,000 profit through renting out their vehicles, new data has revealed.
- Converted campervans such as the Mercedes Sprinter or Ford Transit provide the best return on investment for owners hoping to make money through renting out their vehicles.
- Potential lifespans of up to 28 years make new campervans and motorhomes a considerable longlife revenue stream.
Commenting on the data, the Head of Wunderlust at Campoo, the leading motorhome and campervan rental company Ed Bassett, said: “The peer-to-peer sector for renting out motorhomes and campervans has grown multiple times since our launch in 2018 in terms of bookings on our platform. We have helped generate over £1.5m of income for vehicle owners since 2018 and our fleet size is doubling annually.
“We are seeing more people buying, selling and owning vehicles than ever before, as well as a rise in our year-on-year bookings proving that the UK is an increasingly popular place to tour. It’s clear that van life is here to stay.”
To find out more, please visit www.camptoo.co.uk/