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Financing -- Loans/Handicap Van Financing


I am looking to develop a micro-financing opportunity for disabled (primarily Paraplegics) to buy accessible vans.  When I purchased mine in after an accident in 2002 it was $50K and a standard bank loan.  I paid if off in a couple of years thanks to the generosity of friends and coworkers benefit proceeds.  The cost is very high which means a lot of people cannot afford the independence.

In order to develop a feasibility plan for potential investors I need to know:

What are the default rates on mobility loans?
Are the default rates higher or lower than other vehicle loans?
How long do people normally keep mobility vehicles?
Is this a  longer or shorter period of time than other vehicles?
What is the average interest rate paid on a mobility vehicle?
What is the resale value of a mobility vehicle?

I have searched and search and am unable to determine how to obtain this information.  Do you have any ideas on the answers or where I might go to find them?  I do not know of any finance institutions that focus purely on handicapped needs financing.  Any assistance would be greatly appreciated as this is a very under-served population.


Interesting and worthy concept.

As there is no specialty finance company that I am aware of that focuses on this area, any finance activity here will be an
ad hoc, one off loan, perhaps done on a personal level at a bank or specialty vehicle dealership.

I really don't have any good advice for you as to how to get hard statistics on this.

Anecdotally, if you can find a good listing of people how have purchased accessibility vans, then find a way to solicit them for
an opinion survey, asking them to participate in a survey, and present your questions, that may be a way to get at least some preliminary info.

Good luck...  

Financing -- Loans

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