The Accessible Vehicle Loan can be used to finance an accessible vehicle or converted vehicle for a driver or passenger. Work with a mobility dealership that specializes in this type of assessment for the drivers or passengers needs as well as the maintenance for this type of specialty vehicle. This site offers a way to locate a mobility dealership: National Mobility Equipment Dealers Association. The maximum loan amount is $50,000. (A limited number of accessible vehicle loans are made per year. Please call our office before applying.)
This loan can also be used in conjunction with another funding source. An example, another funding source is willing to cover the cost of the vehicle’s adaptions, but the individual is responsible for financing the vehicle.
Borrowers must be able to make a deposit on the vehicle equal to 3 months worth of the Show Me Loan payment or $1,200, whichever is less. Funding contributions or a trade-in value verified with a written agreement count towards this deposit.
What Are The Terms Of The Loan?
For new vehicles, this loan can offer a 10 year term. If you are purchasing a used vehicle, subtract the age of the vehicle from the number 10 and that will be the term for a used vehicle. For example, a 3 year old vehicle will have a 7 year loan term. Vehicles cannot be more than 9 years old.
How Do I Apply?
Download, print and complete the loan application. It is very important that applications are completed in full, signed and all required attachments are included at time of submission. Applications must be mailed (faxed or emailed applications cannot be accepted) to our office. The Loan Calculator can be used to forecast monthly payments.
For more information on Accessible Vehicle Loans contact Eileen by phone at (800) 647-8557 or (816) 655-6702. You may also e-mail ebelton@mo-at.org
