Lenders for 1984 PT 40???

[Ryan Wright]

Hi Wayne,

I'd imagine many credit unions would. I was considering a '92 that was
out of my cash range. My local credit union said they could finance
any year coach up to 80%, but for a rig older than 10 years, they
needed a full and independent appraisal and some head honcho guy in
some office somewhere had to approve it. I was told this should not be
all that difficult to do given a sizable down payment and a solid
appraisal. I'm sure dealing on a local level with a credit union I've
done business with since I was 14 didn't hurt, either.

I wound up buying less Bird so I could pay cash. Just seemed smarter.
I want to have money around to fix it when it breaks, not be making
payments to the bank on a broken coach I can no longer afford to fix.

I'm thinking most buyers will have trouble finding financing. Someone
with a long history at a local credit union, no debt, and a sizable
down payment could probably swing it, but your average Joe with a
mortgage, two car payments and ten grand in credit card bills is going
to be out of luck.

By the way, you're smart for not accepting owner financing. I'm sure
you didn't need me to tell you that, but I think it's a recipe for
disaster. I'd be willing to wager you'd get screwed more often than
not. You know, six months down the road they break something expensive
and it's, "Hey, sorry. Here's the bus back, we don't want it anymore."
Not my cup of tea. Stick to the 100% down plan.

-Ryan

On 4/19/07, Wayne wrote:
>
> I am still a member of the two bird club. I have had several offers on
> the coach but all involved me taking some owner financing. I am not
> really interested in doing this.
>
> Does anyone know of a lender that will readily loan monies on a 1984
> coach?
>
> I would love to have an answer for the potential buyers.
>
> Thanks in advance
>
> Wayne Chappuis
> Roswell Ga
> 1984 and 1994 Birds
>
>