Paying for bus

[15mlion]

I was wondering how everyone paid for there bus and conversion. Im 21 yo and i have been dreaming of making a skoolie for a long time. I dont have that established credit because i buy everything with cash. I am wondering how hard is it to get a loan. Or other ways to get the skoolie project rolling and what is your story. I love reading eveyones post on this site and learning new things.
Thanks and have a great day beautiful people ✌

 

[EastCoastCB]

I paid $1700 for my most recent bus purchase. Can you save up that much?
If not, consider holding off till you're in a better place financially.
A set of tires for a bus will set you back around $1600 if you go cheap, for example.
Buses are kinda like boats... Bust Out Another Thousand.

 

[slaughridge85]

We paid cash...

 

[bstewrat3]

Cash is going to be your best bet. I haven't looked, but I would assume getting a loan on a bus would be a risk most loan officers would pass on. Make sure to figure in a little buffer money to take care of little issues that may pop up getting it home.

 

[Scooternj]

I paid cash, $2500 for mine.

 

[Bon Voyage]

Mine was $4750 though I think I over paid somewhat. I've had to replace a tire, front brakes and a few other things. Up to about $2000 in repairs and I haven't pulled out the seats yet.
Sometimes it's just the luck of the draw I guess.


Sent from my iPhone using Tapatalk

 

[family wagon]

If you have to have a loan, it'll probably have to be a personal or signature loan. They're not collateralized, so like a credit card, the interest rate isn't the greatest. Most lenders won't take a lien on a bus as collateral because it'll be too much work for them to recover and liquidate if the loan were to default.

Unless you're looking at $30k+ for a bus that's only about 10 years old. With that kind of setup people might be more willing to consider the loan, but then it comes back to the borrower's credit background.

 

[unthinkablecreation]

Your best bet is to save. You can't live free if you're still tied down to the debt you acquired from your bus build.

 

[SDR76]

Cash. It's the only system I know.

 

[Bus ted1]

I paid $1560 at auction with fees. Live cash only. Blue bird tc1000 5.9 cummins, 158k miles. Don't make the money changers rich.

 

[BigDavid]

I got a 401k loan for my bus. I'm paying myself interest.

According to most posts on here I overpayed. But it was set up like I THOUGHT I wanted.
Before you but research the bus in questions driveline. I'm new to this & didn't know the 545 was a crappy transmission. Oh well, live & learn.
One thing I did learn is to make sure you can get insurance. You can forget Progressive. Look to who you have car insurance with first.

 

[dopamine16]

Do what I did & ride a motorcycle in front of a vehicle & pray you don't die, preferably a government worker were the insurance policy limit is threw the roof. soon as I got my leg cast off cashed my checked spent it on a bus & got to work, wham bam thank you ma'am, but of course I do have a daily job that pay's for the BLING BLING shitake.

 

[Thomas1985]

What you do is go to a free state, pick up a pound, sell it, and buy a bus.

-Thomas

 

[BigDavid]

Are you implying- selling drugs?
No thanks, too risky for my standards.

 

[Thomas1985]

I would never.

-Thomas

 

[Rusty-SKO]

What you do is go to a free state, pick up a pound, sell it, and buy a bus.

-Thomas

Ohhh, so that's how to get a Prison Bus...for free.

 

[Thomas1985]

Exactly. Few know and there is a limited supply.

-Thomas

 

[onenationundergoat]

You have two kidneys and you only need one.... =]