Financing A Wheelchair Van

Okay, let's start with the simple and obvious—defining a wheelchair van. A wheelchair van is a van that has been modified or equipped with a hydraulic lift to accommodate the needs of those who rely on a wheelchair for daily mobility. A wheelchair van also be any vehicle, not necessarily an actual van, that has been specially modified to allow the wheelchair user the freedom of owning and driving their own car.

While there has been an increase in the number of wheelchair users owning and operating a personal car in recent years, wheelchair vans and vehicles are primarily used in the commercial market for medical and sports-related purposes. However, public transportation providers across the nation have equipped many of their buses with hydraulic lifts and folding seats to further accommodate wheelchair-bound passengers.

You're reading this article because you obviously have need for a wheelchair van and questions like, how much does a wheelchair van cost, going through your head right now. Well, rest assured because today we'll provide you with insider knowledge on the process of financing a wheelchair van.

Have You Weighed Your Options?

Apparently you've given this some thought, but what have you thought about? Hopefully you've already chosen to ignore any uneducated advice like purchasing a used van and installing the ramp yourself. Perhaps someone has told you to purchase a used van and pay a shop to install the ramp or convert the van to a wheelchair-ready vehicle. Neither of those options are recommended for the following reasons;

• You're taking a huge risk purchasing a used vehicle in which you do not know or have the service history for
• Properly installing the wheelchair ramp or converting a vehicle requires a trained technician
• You nearly triple your cost between the process of purchasing a used vehicle, which may require a loan, and in the cost to convert the vehicle, which may also require a loan

In a nutshell, these are your options, not good huh? Of course not, that's why, if you hadn't already, then now you have made the decision to purchase a wheelchair-ready van.

Financing Options

Financing your wheelchair van doesn't have to be as difficult as it seems. Bank of America works closely with several wheelchair van manufacturers to present individual finance options.

• Single loans that combine vehicle and conversion costs are available
• Finance for the same price as buying a new car
• VHA grants and programs are available for military veterans
• Apply rebates to during financing to reduce loan cost
• Low-interest loans and financing available for nearly everyone

Yes, you have to finance your wheelchair van, but as you see, the industry has provides more options than any new car dealership around. Wheelchair van manufacturers and dealers understand the significance of their vehicles and focus more on the needs of the individual rather than the sell. The manufacturers and dealers have collaborated to structure each individual loan in a fashion that does not place any additional financial burdens upon their clientele.

Just Like Buying A New Car

Another thing to remember about financing your wheelchair van is, it's just like buying a new car. When you buy a new car, you can use your old car as a trade-in, and you can use a trade-in when you purchase your wheelchair van. In most cases you make a down payment towards the purchase of your new car—and you also make a down payment towards the purchase of your wheelchair van. Do not let the fact that you're purchasing a specially-equipped vehicle convince you that the buying process is more complicated than the buying process of purchasing any other new car—it's not.

Veteran Programs

Disabled military veterans comprise a large percentage of those who rely on wheelchairs and wheelchair-ready vehicles and vans. Because of this, the Veteran's Health Administration has implemented three programs to assist in their financing requirements.

• Auto Allowance Grant – This grant issues nearly $20,000 directly to the dealer or seller once the veteran/buyer has been approved.
• Automobile Adaptive Equipment Program – Once approved, the veteran/buyer can receive additional vehicle equipment such as hand controls and lowered floors to assist with entering, exiting, and driving a vehicle.
• Non-Service Van Modifications Program – Once approved, this program issues funds to the veteran/buyer who suffers from ML, ALS, and other war-related diseases, to aid in further equipping their wheelchair van or vehicle.

Now that you're more informed of the financing options for purchasing a wheelchair van or vehicle, take a few moments to speak with a dealer and/or your financial institution to see what works best for you. Purchasing your wheelchair van or vehicle saves time, money, and most of all, restores a great sense of independence.