A guide to nomadic living: How to finance #vanlife
The dream of van life beckons thousands every year, with promises of freedom, adventure and a minimalist lifestyle. For many, the journey begins not on a remote highway, but on a spreadsheet or with a conversation at a financial institution. Financing van life involves more than just securing a vehicle — it requires careful planning to support a full-time, mobile lifestyle. From camper van purchases to outfitting your rig with solar panels, understanding your financing options is the first step to hitting the road with confidence.
Financing your van
At the heart of any van life journey is the vehicle itself. Whether you’re eyeing a factory-built camper or planning a custom van build, the upfront cost can be significant. You can finance a camper van through several avenues, including RV loans or personal loans, and each financing option has its perks.
RV loans are a popular choice for those purchasing new or used vans already equipped for life on the road. These loans offer flexible loan terms, allowing for lower monthly payments. However, the total interest paid over time may be higher, so opt for a loan with market-leading rates to get monthly payments that works for your budget.
Shop like a pro: Did you know you can apply for an RV loan pre-approval before you shop, just like you would for a car loan? Securing a pre-approval helps you understand just how much RV you can afford, and gives you confidence to negotiate at the dealership.
For those converting a cargo van or shell into a livable space, a personal loan might make more sense. These loans are usually unsecured, meaning they don’t require the van as collateral. That flexibility can help cover van conversion costs, but shorter loan terms and higher interest rates can lead to more substantial monthly payments.
Building out your van
Once you secure your van, the next big expense becomes the van build. Costs vary widely based on your design, materials and whether you DIY or hire professionals. A custom van conversion can range from a few thousand dollars for a minimalist setup to over $100,000 for high-end builds with all the bells and whistles.
You can finance your build through personal loans, credit cards, or payment plans that conversion companies offer. Each option has pros and cons, so it’s critical to compare interest rates, fees and the level of customer service provided.
Adding features like solar panels is essential for many nomads seeking off-grid independence. Though upfront costs are high, financing these additions can ease the burden. Some companies bundle energy systems into overall van build packages, which can be rolled into a larger personal loan or paid through separate financing options.
Budgeting for the lifestyle
Living on the road full time may free you from rent or a traditional mortgage payment, but it doesn’t come without costs. Understanding the financial commitment is essential if you want to feel the freedom of the open road, without worry. Monthly costs include fuel, insurance, maintenance, campground fees, food, and digital tools for remote work. Budgeting for these recurring expenses is just as vital as financing the van itself.
That said, van life can offer real financial advantages. Laura Laxy, a mortgage originator at Empeople, has lived the van life for five years. She says, “One of my biggest financial wins is cutting out all the little costs of city living — takeout, impulse buys, even clothes shopping. It really adds up.”
To live full time in a van, many nomads maintain some form of income, whether through remote work, seasonal jobs, or small businesses. Understanding your monthly expenditures helps determine what kind of monthly payment you can sustain without stress. Laxy adds, “We realized we didn’t have to wait for retirement to travel. With remote jobs and mobile living, we turned our biggest expenses into fuel for adventure.”
Choosing the right lender
Whether you’re taking out an RV loan or a personal loan, the lender you choose makes a difference. Evaluate potential lenders based on loan flexibility, customer service, and repayment terms. Read reviews from other van lifers to find lenders familiar with this lifestyle.
A strong credit score plays a critical role in securing favorable loan conditions. It affects your interest rates, eligibility for loans, and the overall cost of financing. Before applying, check your score, pay down existing debts, and avoid new credit inquiries.
Credit unions often provide competitive rates and faster approvals, especially if you have an established relationship with them. As an Empeople member, you’ll have access to expert financial guidance to help you boost your credit score, build a smart budget, and grow your savings with confidence.
Long-term financial planning
Van life requires financial resilience. Set aside an emergency fund for unexpected repairs, medical needs or travel detours. Consider insurance not just for your vehicle, but also health, liability, and even contents coverage.
Think long term: Will you live on the road indefinitely or transition back to a stationary home? Your financing options should align with your timeline. Opting for loan terms ranging from five to 20 years may seem attractive for lower monthly payments, but long-term interest accumulation can undermine your financial goals.
Financing van life is a balancing act between freedom and responsibility. From choosing the right RV loan or personal loan, to outfitting your rig with solar panels and sticking to a realistic budget, smart financial decisions lay the groundwork for a sustainable adventure. With proper planning, a solid credit score, and manageable monthly payments, your dream of full-time nomadic living can be more than a fantasy — it can be your new way of living.
“Life on the road was our life-long dream,” says Laxy. “We didn’t just downsize our home — we upsized our lives. Every mile we drive is a reminder that freedom doesn’t have to wait.”
