Getting a loan for 4x4 van

[vantheman]

Hello everyone,
This is my first post. I have been reading a lot of different threads here and really like this forum. I want to buy a 4x4 van but I was wondering if anyone has had a hard time getting a loan for one because they obviously are priced much higher than a regular 2x4 van. ( Above blue book value ) I apologize if this has been answered before or is posted in the wrong spot. Thanks!

 

[brianjwilson]

The most obvious answer would be the you need to pay for the van. Or at least the cost above blue book/ACV.

Otherwise you have to find a very wiling lender, who might allow someone to do a market value assessment on a rig, and financing a portion of that assessed amount. As long as it was insured for the full price. I'm sure there would be a ton of stipulations if you ever found someone to do it.

If you don't have cash, some people take out a line of credit against their house, a 401k loan or similar.

 

[Ranchero]

Lightstream.com (Suntrust bank) will do an unsecured loan at 2.99% -3.49% for a used car/van assuming excellent credit. That way no appraisal or blue book value is needed.

 

[vantheman]

Ah yes! A line of credit from the house is a great idea. I think I can even write some of that off on the taxes too. Thanks!

 

[4Fox]

I don't have 4x4 but the price of my AWD Express was more than KBB. I tried explaining that my price was the going rate for an AWD van but I ended up getting gap coverage from the credit union.

 

[Vantastic Adventure]

Get a Sprinter 4x4 van. You can contact dealers, who already have builds on order. They will be happy to give anyone a loan. Tell them you want to modify one of their orders and you can build a basic 4x4, low roof sprinter for $46k, just don't get sucked in to adding a bunch of fancy stuff that you don't really need and which will add another $10k onto that price.

 

[Vantastic Adventure]

I'd post a link to several basic 4x4 sprinter vans around the country, that area available now, but I'm not yet allowed to since I'm new to the forum. You can have any dealer ship one of these vans to your state for around $1k, or wait a few months and place a modified order as I mentioned above.

 

[kudzu]

State Farm financed mine. They wouldn't finance the full selling price, requiring me to do a down payment. (I'd hope for full financing so I could sell my old van to fund outfitting of the newer one.) However, I didn't have to pay for GAP insurance. State Farm covers any cost difference if my vehicle gets totaled during the term of the loan. May not be the best arrangement for everyone, but it worked for me.

 

[B^2]

I've been looking into this a lot recently. Especially since a lot of the quigley vans I'm looking at are private party which some banks won't finance some. It would be great to know if there was a bank/organization that was friendly/understanding to these types of situations. I dont mind putting some money down but I'd prefer to not have to pay cash for the whole thing.

 

[mikracer]

Some credit unions will finance over 100% of KBB retail price. Hit up your local CU's and see if any of them offer that. If they will do 110-115% of KBB retail, you will at least have some of the cost covered, but will most likely have to come in with some money.

 

[Redheddedwonder]

I used numerica credit union (northwest) and they based the loan off of comparable vans. So if you can find other vans for sale in similar price range they will do it. Worked for me at least and I had never banked with them before. Higher interest rate due to “unique collateral“

 

[ujoint]

A buddy of mine used a company called Light Stream to finance his van, rates were good and they were easy to deal with. I believe they're part of Sun Trust Bank.

 

[zach123]

A buddy of mine used a company called Light Stream to finance his van, rates were good and they were easy to deal with. I believe they're part of Sun Trust Bank.

I used the same. Underwritten by a bank in Arizona, can't remember name.
Filled out info online...approval and money was in my bank within about 2 hrs. Rates weren't amazing, but they were decent and way better than anything else I'd found.

 

[tanokosohana]

It's important to understand that buying such a car you'll ******** with it for many years to come. High fuel consumption, high maintenance cost of this car can drive you into a dead end with a loan. In 2016, I made the biggest mistake of my life and purchased a Land Cruiser 2004. I wasn't prepared for the fact that I still had to invest$ 5,000 in this car. After a number of problems with the payment of the loan, I had to face the collectors. After some of the most unpleasant encounters in my life, I decided to read about their rights and responsibilities and found the site about debt collection agency where I thoroughly studied their work. Collectors are protected by a team of professional lawyers and they do everything according to the law, and if they overstep the law, then all traces are removed. Don't mess with them, I guarantee you that. Think a few times before you take out a loan for such a car.

 

[dunhammrocco]

Do it! You live once