| Author |
Message |
marc johnson (Mcovertj) (67.86.55.219)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, September 12, 2003 - 12:30 am: | |
Well...I'm new to this forum and completly new to bus conversions! Having only ever bought newer travel tralers and motorhomes...I was wondering what options are available to people who want to purchase "older" model converted buses? Haven't had a great deal of luck at the local banks!
Any thoughts are appreciated!
Cheers, |
RJ Long (Rjlong) (24.127.74.29)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, September 12, 2003 - 12:43 am: | |
If you can't pay cash, a home equity loan is your best bet.
Most financial institutions won't loan on a bus conversion because they have nothing to base their risk on.
HTH,
RJ
PD4106-2784
Fresno CA |
Brian James Houk (Brianmci96a3) (65.40.157.236)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, September 12, 2003 - 12:51 am: | |
Yeppers, I got my MCI 96A3 with a home equity loan, unless you have a barrel of cash it's about the only way to get there from here! |
marc johnson (Mcovertj) (67.86.55.219)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, September 12, 2003 - 11:05 am: | |
Thanks for the advice...maybe refinance at the same time!!
Cheers,
Marc |
Rodger in WA (64.70.24.54)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, September 12, 2003 - 11:56 am: | |
Most RV lenders will reject anything over 15 years old but check with Essex Credit and Deusch (sp?) Bank.
In 1999, I financed a 1976 Prevost. I got better terms and rate than most RV lenders were offering at the time. The seller financed it the year before with Deusch.
It is a professionally converted coach and was professionally appraised. This was important to the lender.
A home equity loan may get you the best rate but may not be the only source. Either way, you'll be able to write off the loan interest. |