June 23, 2018, 05:22:07 PM

Author Topic: Financing a Conversion  (Read 2195 times)

Offline oldmansax

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Financing a Conversion
« on: June 23, 2006, 06:54:47 PM »
OK I found a conversion that I have fallen in love with! Now for the hard part. How do you finance a bus? So far, everyone I have spoken to either said “nothing over 10 years old” with a straight face or doubled over laughing when I ask about financing a ‘73 MCI. I CAN do a second on the house but would rather not. Any ideas or connections?

Offline skihor

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Re: Financing a Conversion
« Reply #1 on: June 23, 2006, 07:25:27 PM »
An equity loans makes more sense since you could get a rate in the 6% range. Much less than a convential vehicle loan. Plus you own the bus (title) and could carry liability only IF you so choose.

Offline niles500

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Re: Financing a Conversion
« Reply #2 on: June 23, 2006, 07:41:56 PM »
Liability insurance is not an option in most states, although comprehensive and collision is - FWIW

- Niles

Offline H3Jim

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Re: Financing a Conversion
« Reply #3 on: June 24, 2006, 09:48:08 AM »
I searched for months when buying my bus.  I could not find anyone that would finance it, or even come close.  Only a finished conversion (by a big name converter) or a seated bus.  Seated buses would be finanaced with a $3000 to $5000 a month payment, like it was in service.  Not really an option.  Crack open that home equity line, its your best bet.  Tax deductible too.
Jim Stewart
El Cajon, Ca.  (San Diego area)

Travel is more than the seeing of sights, it is a change that goes on, deep  and permanent, in the ideas of living.