[Glenn]

At the beginning of this year, Huntington Bank in Central Indiana would loan 90% of the appraised value or 90% of a dealer invoice price on a Prevost. Up to 180 months at 7.25% at the time O.A.C.

The one we were looking at and eventually purchased was a 96 model.

[Chas]

Diane,

There are few if any lenders for older coaches which in part explains why a lot of converters almost exclusively limit their inventory of used coaches for sale to 10 years.

Having said that the real experts in financing older coaches would be the dealers who sell or broker those coaches every day. You might wish to contact them privately.

Recent buyers of older coaches might also want to share with you their lender if they financed their purchase, but they also would want to do that privately so consider enabling your email if you haven’t already done so.

[Liam]

Thanks Suzie & John…

Also thanks Jon… my email has always been enabled.

Diane

[Archived]

Diane, Newcoast Financial in Clearwater suposedly goes 15 yrs. and Arvest Bank will do it in a certain geographic area(mainly Mo,Ok,Tx,Ak,Al) possibly more(they have done us in Fl). I would also call Dave Wahl in Stuart. Geo.

[Archived]

Diane, your buyers should check with a local credit union. Mine did not sneeze at financing my 13 year old bus last year and I got a super rate (2.99%). Obviously the rate will depend on income, credit and downpayment, but my understanding was that the coach year was not an issue for them and that they would have financed up to 90%. Loan was approved in 2 days, without an appraisal. (I did buy from a dealer, so that might explain why no appraisal was needed.) I was really surprised at how relaxed they were. If that’s how easy it was to get a mortgage in the bad old days, I have no wonder why there was a foreclosure crisis. That credit union is currently offering 100% new car loans at under 2%. Crazy.

[Liam]

I wonder if buyers are approaching their lenders improperly.

The term Prevost means nothing to most people. The use of the word bus sends a signal the coach is an old school bus or a worn out commercial bus that wasn’t particularly well done.

We know what a professionally converted, well maintained Prevost conversion is, so maybe buyers need to approach the lender with photos or maybe even a well prepared brochure with photos, equipment or features list, and maybe a print out of the current Prevost brochure so the lender can see the difference between a motor home and a motor home conversion.

Provide links to the PC coach for sale site, plus links to brochures from the converter. Even RV owners that see a 20 year old Prevost have a hard time believing it is 20 years old and how much coach they can buy for the money compared to what a plastic coach costs and how little value they retain.

[Larry]

If you are Military connected – USAA will. They have an underwriter that simply does the research on valuation.

[Andy]

I will pass all this info on thanks everyone for your input I appreciate it so much !!

Diane

[Archived]

Contact Hal at Voyager Credit, they are our PC Advertiser, 877-222-0301.

Voyager Credit

[Dale]

Thanks Tom…

I tried to call Hal this pm at 4 their time but got recording so I left him a message… guess he’ll call back on Monday.

Thanks, Diane