Wheelchair Van Financing OptionsWhich option is right for you?
A lot of options exist these days to pay for your wheelchair van. There are two common wheelchair van financing options. The first is financing the wheelchair accessible vehicle through a loan. The second option is a vehicle lease. I have written a post on wheelchair van financing options before and can be found here. Depending on your situation, one option may work better for you than the other. Sometimes our clients look for 3rd party funding to help offset the cost of their wheelchair van. For example, President’s Choice Children’s Charity is a common charity client use.
The approval process for a loan or lease can be quick. It can take as little as a couple of hours or can take a couple of days. In personal situations, usually, a standard credit check is all that is needed for both options. For businesses, government organizations or non-profits, the process can take longer. For example, the organization is purchasing a wheelchair bus or Ram Promaster, the approval process is more involved.
Check out the infographic below to see which option is right for you!
Conclusion on Wheelchair Van Financing Options
Both wheelchair van financing options are great. Each option offers different benefits. Most businesses we work with lease their vehicles. As well, non-profit organizations tend to use leasing. For personal use, it can vary. We see clients use both options. Each option has its advantages and disadvantages. It comes down to what works best for you and what you think will work best.
Are you looking to explore wheelchair van financing options further? Take 10 seconds and fill out the form below to get the process started! We work alongside you to understand your situation and help you find the right financing option. We work with a variety of lenders and lease companies who offer competitive interest rates and terms.