Thank you for the tip. Part of his problem has been the downpayment. He went to his bank of over 30 years and could not even get the 2000 needed loaned to him. Does anyone know of military friendly reputable sources of loans?
Check out the Navy Federal Credit Union. I don't know much about them but they're mentioned occasionally or have ads in a military newsletter I get.
Chase and subsequently Bank of America began programs for vets. I believe Chase's programs are primarily limited to nominal benefits on checking accounts, but there may be some loan programs available. BoA was a more recent jump on the military bandwagon convert, and I would avoid dealing with them at any cost, even if they gave you an interest free loan and toasters and microwave ovens as inducements.
You might also check the VA directly - there are so many different programs.
The most helpful publication I've seen is one I've gotten at Area Agency on Aging conferences that's published by the GPO:
Chapter 16 might have helpful information. It addresses other sources of assistance, including HUD: HUDVET, call 1-800-998-9999 or www.hud.gov/hudvet. It might be that you can get assistance for other debt to free up some cash for a downpayment.
I got a lot of hits on "loans for veterans": https://www.google.com/?gws_rd=ssl#q=loans+for+veterans and "vehicle loans for veterans": https://www.google.com/?gws_rd=ssl#q=vehicle+loans+for+veterans
One of the hits stated that the military does not have a vehicle loan program for veterans, however, there are a lot of hits for organizations that do. It looks as if most of these are commercial sites rather than government sites. You may have some research to do to wade through the hits, but hopefully you can find something helpful.
I don't know of anything else offhand. You could, however, contact a local VFW or American Legion post and ask for the regional office that assists veterans with qualification. That office might know of some benefits. I think the military organizations might be the best source for quicker answers in the long run. They might also be more likely to know which sources are reputable. It wouldn't surprise me if there are a lot of scumbags ready to prey on vets.
I'm wondering though if you've tried turning the issue around, and instead first contacting agencies or companies that assist with financing for assistive, adaptive vehicles? I've seen some of these vehicles on display at Area Agency on Aging conferences. That might be another route.
Chase and subsequently Bank of America began programs for vets. I believe Chase's programs are primarily limited to nominal benefits on checking accounts, but there may be some loan programs available. BoA was a more recent jump on the military bandwagon convert, and I would avoid dealing with them at any cost, even if they gave you an interest free loan and toasters and microwave ovens as inducements.
You might also check the VA directly - there are so many different programs.
The most helpful publication I've seen is one I've gotten at Area Agency on
Aging conferences that's published by the GPO:
http://www.va.gov/opa/publications/benefits_book.asp
Chapter 16 might have helpful information. It addresses other sources of assistance, including HUD: HUDVET, call 1-800-998-9999 or www.hud.gov/hudvet. It might be that you can get assistance for other debt to free up some cash for a downpayment.
I got a lot of hits on "loans for veterans": https://www.google.com/?gws_rd=ssl#q=loans+for+veterans and "vehicle loans for veterans":
https://www.google.com/?gws_rd=ssl#q=vehicle+loans+for+veterans
One of the hits stated that the military does not have a vehicle loan program for veterans, however, there are a lot of hits for organizations that do. It looks as if most of these are commercial sites rather than government sites. You may have some research to do to wade through the hits, but hopefully you can find something helpful.
I don't know of anything else offhand. You could, however, contact a local VFW or American Legion post and ask for the regional office that assists veterans with qualification. That office might know of some benefits. I think the military organizations might be the best source for quicker answers in the long run. They might also be more likely to know which sources are reputable. It wouldn't surprise me if there are a lot of scumbags ready to prey on vets.
I'm wondering though if you've tried turning the issue around, and instead first contacting agencies or companies that assist with financing for assistive, adaptive vehicles? I've seen some of these vehicles on display at Area Agency on Aging conferences. That might be another route.
Good luck!