Recently, there’s been a bigger interest in renovating old school buses and turning them into RVs or mini homes – called skoolies or a tiny house on wheels (THOW). Or maybe you just want a bus for family trips! Whatever your reason for wanting a bus, how do you get one?

Can I Finance a Bus?

Whether you can get a loan for a bus depends on the lender you seek out, the condition of the bus, and what you’re going to use it for.

Auto lenders have restrictions on what they can approve for financing. There are also different rates and loan types for different vehicles, such as passenger cars, commercial trucks, RVs, and so on.

When it comes to financing a bus for personal use, you may find it difficult to get a secured loan, especially if the bus you want is over 10 years old. Most traditional and subprime lenders require that borrowers finance a vehicle that’s under 10 years old and has less than 100,000 miles. And if you do manage to locate a bus that’s newer, a lender may still be wary to extend the financing.

Typically, buses are ineligible for home loans, auto loans, and RV loans, according to They’re not eligible for a mortgage because they don’t have a permanent foundation. If you need financing to get your hands on a bus, you may need to seek a personal loan.

Personal Loan for a Bus

Personal loans are unsecured loans, meaning they’re not secured by anything, unlike a car loan. Auto loans are secured by the vehicle, and if you default on the loan, the lender can start the repossession process to recover the car because it’s the collateral on the loan.

With a personal loan, you can use the funds for whatever your heart desires, including a bus. However, since personal loans are unsecured, their interest rates are typically higher than a regular auto loan (this also depends on your credit rating). Lenders charge more interest for personal loans because there’s more risk without collateral.

To get a personal loan, you likely need to seek out a direct lender (such as a bank or credit union) and have a good credit score. Direct lenders may require you to have a credit score of around 670 or higher. You also need to prove you have the income to repay the loan, so having a steady income is required. Requirements vary by lender, and how much you need also depends on how large of a loan you need.

Personal Loan not an Option?

If a personal loan isn’t an option for you, then you may have to pay cash for the bus. Or, explore other options for coming up with the money you need. One such option might be cash-out refinancing if you have any property with equity, such as a car.

If you’re not intending on using the bus for personal reasons, but instead you need it for commercial use, then you may need to seek out a commercial loan. Generally, interest rates for large commercial vehicles tend to be higher than for passenger vehicles. For commercial vehicle loans, lenders are typically more selective about the financing they approve because the vehicle is a business asset instead of just a personal use car.

Need an Auto Loan?

Can You Get an Auto Loan for a Bus?Here at Auto Credit Express, we aim to assist borrowers with vehicle financing by matching you to a dealership that can help. With extensive experience in bad credit auto loans, our nationwide network of special finance dealerships is signed up with lenders that can assist borrowers in getting the vehicle they need.

While we may not be able to help you get a loan for a bus, we could help you find a dealer that’s signed up with subprime lenders. These lenders specialize in assisting bad credit borrowers in getting a car loan. If you need a passenger vehicle with poor credit, then complete our free auto loan request form and we’ll look for a special finance dealership in your local area.