I used a couple of the AUBUS 1002 models that came out a little while ago. In a CAD package I drafted up the models at the 1:76 scale, then tried to replicate the liveries as best I could from photos and from seeing the buses in real life.
I tried to get away with it by using rub on decal paper whereby you print it with an inkjet printer, apply a layer of sticky to the top of it, let it dry then peel off the base layer and stick it down, THEN pull off the top (yes, its a pain!). Most of the decals have been applied to the TNSW model, but unfortunately I have found that this decal paper is too thin and to get a decent result you have to put multiple layers of it down to cover up the blue of the original model. Also, over the couple of months that have gone by since I did it the colours have started to bleed (i.e. the red of the lotus flower into the sky blue). Im too embarrassed to post a photo of how it went
Unfortunately uni is back now so I don't have the time to re-do the model until mid year break (this time using the waterslide decals that youve mentioned. From what I can tell they're the type the bus museum has used on their prepay volvo). I intend to cut around the headlights, but as for the upper lights on the rear end and the fuel filler they look reasonable when theyre printed. I'll be sure to post a photo when I re-do the model