We are often asked if there is financing available for our converted vehicle inventory. The quick answer is YES! We have a great relationship with Braun Credit who works with various lending institutions who are familiar with the costs associated with the Chassis and Conversions. Just like at a traditional automotive dealership, a client can fill out a simple one-page application and let their sales associate do the rest.
As with any time credit is granted, the terms and rates are determined by the lender. Considerations that commonly go into the credit worthiness formula are overall credit history, automotive payment history, revolving credit utilization percentage, payment-to-income ratio and overall debt-to-payment ratio, among others. These lenders typically need a 10% downpayment and keep in mind, a trade-in can be considered towards this downpayment.
Of course, the client may choose to obtain a loan via their local bank or credit union. We welcome that as well and we know some clients may leverage their other existing accounts (signature loans, mortgage loans, etc.) when negotiating a rate. The great thing about Braun Credit is they can petition for a much longer term than what a local bank may be willing to offer. For instance, a typical 10 year term might produce a $550 per month payment whereas a 5 year term payment might be $975 or so. Also, keep in mind that all Braun Credit initiated contracts are Simple Interest. That means, if you choose a longer term for a more affordable monthly payment but come across some extra funds, you can prepay at no penalty.
So if you think that a new, handicap accessible van is too expensive, talk to your sales associate about your financing options. You may find it is more affordable than you think!!