Originally Posted by jvhooser
I have been looking to purchase a bus to convert for a while. I have found a bus that is already converted that I am interested in. Any ideas on how to place a value on it to approach my credit union for a loan? They are easy to work with, but I have always had the NADA value of the vehicle for them to base the value of the vehicle on. Hard to do that with a bus conversion.
Thanks in advance for your help.
They are worth what you'll pay...
I am alittle confused by your question
How much is the bus?
scrap rate at about $11 a hundred means the bus is worth about $1800
does it run?adds more$
Good Tranny?adds more$
new stove,fridge and water heater say$1000
removing all the seats is worth a few hundred
vynal flooring?say $300
see how this works?Go through the bus and add up everything that has been done to it and then depreciate it alittle
You can quickly see how a "value" is dependant one way to many things
Minus the cash you have;that would be the amount you need to come up with?
So if it's 5000 and you have 3000 then you need to borrow 2000
get a personal loan if you really want to go that route...I would recommend only buying a toy with cash
no need to go in debt for a toy