| Author |
Message |
Dave (216.192.187.148)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Thursday, October 24, 2002 - 5:13 pm: | |
Any suggestions on who to talk to about financing a converted coach? Where should one go for a appraisal on a coach to satisfy the creditors? Thanks for any help. |
degojo (152.163.188.227)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Thursday, October 24, 2002 - 6:46 pm: | |
i work in the financing business and unless you have someone who understands what a conversion is you wont be able to borrow much more than what your signature would warrant with no security |
Steven Gibbs (12.148.43.6)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, October 25, 2002 - 7:57 am: | |
Dave,
Is your coach converted now or are you talking about financing for the conversion?
The apprasial should have been arranged through your insurance company for the "agreed value" coverage amount. I did have trouble finding financing through the usual sources until I was put in touch with a personal friend of a friend of mine. Once I had an interested ear, the credit union provided me with a standard RV loan to pay off all of the credit card and short term loan debt accurred through the conversion process.
Steve G.
MC9
Pontiac |
Dave (206.175.230.18)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, October 25, 2002 - 8:24 pm: | |
Steve,
I have a 4104 now that has been paid for as i complete it but I'm looking at an MCI that is already completed now and my credit union shows no interest because they have no "book value" reference. I'm trying to educate them but not having much luck.
Dave |
Stephen Fessenden (Sffess) (65.130.16.206)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Friday, October 25, 2002 - 10:43 pm: | |
I had no luck getting financing for a professionally converted 1982 Prevost from USAA because there is no book value on bus conversions. They were also not interested in appraisals. Expect most companies to be uninterested and a few to be flexable if you are lucky. |
jmaxwell (66.42.92.9)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Saturday, October 26, 2002 - 11:37 am: | |
Lack of available financing is probably the biggest reason why there is not at least one conversion in every driveway in America. I read an article about Marathon Coach a couple of years ago and 65% of their "new conversions" were CASH sales. |
Rodger Manecke (216.170.203.227)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Saturday, October 26, 2002 - 11:49 am: | |
Try Essex Credit - www.essexcredit.com for financing and Miller Insurance Agency - 800-622-6347 for insurance. Both of these companies are brokers and are familiar with converted coaches.
If you have a professionally converted coach, these firms should be able to get it insured and financed.
Good luck. |
Steven Gibbs (12.148.43.7)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, October 28, 2002 - 11:34 am: | |
Dave,
Contact ADP AutoSource. I believe they are in Oregon. They did our appraisal for the "agreed value" on the insurance and our credit union used that appriasal for the loan.
I also tried all of the above including Essex and got nowhere.
The apprasial fee was 200.00 but RVAA picked up half of it.
Here's another thought; is the unit your looking at insured now? Agreed value? When was the last appraisal? Will the owner let you have a copy for your financing attempts?
Steve G. |
Bob Lewis (67.25.98.197)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, October 29, 2002 - 12:43 am: | |
Regarding your apprasal......most converters will do your appraisal for you. We are located in Washington State...and we will do an "agreed value" apprasal for anyone that wants to bring it to us. Infinity Coach 253 891 08179
Good luck |