10 Steps to Finding the Right Church Bus
Step 1: What kind of bus do you need?
If
you examine your needs rather than wants, you will quickly discover what the right church
bus is for you. Take a moment to think about how you'll be using your bus. How many people
does your Church need to transport? What kind of driving do you most often do? How long are
your trips? Is it important that your next bus gets good gas mileage? Is it important your
bus has a warranty?
In many cases people choose a bus because it has an eye-catching style or it is a trendy
favorite. If you go in this direction, you may either break your budget or have to go bus shopping
again soon. Let your needs, not wants, drive your decision.
Here are a few other questions to keep in mind when you begin your church bus-buying process:
- Do you need a heavy duty transmission?
- What safety features do you want?
- Do you require a lot of cargo-carrying capacity?
- Will you be doing any towing?
- Will the bus easily fit in your parking area?
Step 2: How much can we afford?
Regardless of whether you decide to buy or lease your next bus, establishing a realistic
monthly payment that will fit into your budget is a crucial first step. How much should this be?
Estimate what your monthly church bus payment will be based on purchase price, down payment,
interest rate and length of loan. Take the time to run the numbers now, before you go bus shopping.
Write out the result and put this information into your church bus-buying folder. It will
not only show you what you can afford, it will also help you control the numbers when you negotiate
with a salesman.
Step 3: Should we lease or buy our next bus?
A lease requires little or no money up front and offers lower monthly payments. But when
the lease ends your Church is left without a bus and a need to replace it. Buying a bus is
more expensive initially and the monthly payments are higher. But at the end of the loan, you
will own a bus you can still drive or sell. BusGroup offers Church
bus financing options and also a Fundraising Assistance Program.
Advantages of Leasing: |
Advantages of Buying: |
- You can drive a better bus for less money.
- You can drive a new bus every few years.
- No trade-in hassles at the end of the lease.
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- When interest rates are low, it makes more financial sense to own a bus rather than lease it.
- No mileage penalty.
- Increased flexibility-you can sell the bus whenever you want.
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