Aircraft Financing

On 31 Aug 2005 15:31:59 -0700, "
wrote:

I'm debating the purchase of a plane and I was wondering what the
current rates are that anyone has gotten for financing on an aircraft
for a loan amount of $50-60K for either a 5, 7, or 10 year term. I know
that AOPA can quote this, and I'll be calling them tomorrow during
business hours. However I wanted to see what other people had found by
shopping around.

Aviation loans tend to have higher rates than homes, cars, and even
boats. I would expect somewhere between 8 and 10% depending on term
and credit rating.

If you have access to a line of credit on your home, look into using
that - better rates and the interest will be tax deductible.

-Nathan

That's what I do. The money works better in the equities market & I don't
have to pay capital gains to take it out and use as a payment. Anyone who
says an aircraft appreciates in value enough to pay for the difference is
fooling themselves.

Thx, {|;-)

Victor J. (Jim) Osborne, Jr.

"Nathan Young" wrote in message
...
On 31 Aug 2005 15:31:59 -0700, "
wrote:

If you have access to a line of credit on your home, look into using
that - better rates and the interest will be tax deductible.

-Nathan

MBNA from AOPA quoted me 6.7% but I've heard of terms to get it down to 5.5%

wrote in message
ups.com...
I'm debating the purchase of a plane and I was wondering what the
current rates are that anyone has gotten for financing on an aircraft
for a loan amount of $50-60K for either a 5, 7, or 10 year term. I know
that AOPA can quote this, and I'll be calling them tomorrow during
business hours. However I wanted to see what other people had found by
shopping around.

Thanks,
Eric

You'd probably be better off refinancing your house and taking the cash
out.

We were happy with NAFCO (National Aircraft Finance Company) If you have
questions you can call them at 800-999-3712 or email Bill Leckie -
. No associated interest just happy with the process.
We financed through
Citizens National Bank
390 Main St
Laurel, MD 20707-4199

We got 6% last October so I don't know what it is right now. Good luck
with your purchase. Get a THROUGH pre-buy and then put 10% of the
purchase price back for repairs in the first year.

Jon Kraus
'79 Mooney 201
4443H @ TYQ


wrote:

I'm debating the purchase of a plane and I was wondering what the
current rates are that anyone has gotten for financing on an aircraft
for a loan amount of $50-60K for either a 5, 7, or 10 year term. I know
that AOPA can quote this, and I'll be calling them tomorrow during
business hours. However I wanted to see what other people had found by
shopping around.

Thanks,
Eric