financing

I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

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Home equity line of credit it what I did.

--
Ben
C-172 - N13258 @ 87Y


"Todd" wrote in message
...
I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

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Grab a copy of Trade-A-Plane. The aircraft lenders all advertise there and
post their rates, etc. All will be the same within a fraction of of a
percent.

None of us can guess what terms you could get without evaluating your
credit. Please post a balance sheet, and we'll help you out.

"Todd" wrote in message
...
I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

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My dad did a Home equity line of credit loan also. That seems like the
way to do it. (If you own a home)

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Todd wrote in message ...
I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

Contact Mike Jacobs at http://www.1st-of-pryor.com/ . He knows
airplane financing and also runs one of the better Piper listservs.

Looks like the current rates are between 7.99% and 8.25%, depending
on the plane and loan amount.

John Galban=====N4BQ (PA28-180)

We just financed through AOPA (MBNA, actually) on our PA28-180. Got 7.5% for
15 years. Could have been 7.25% if we would have paid a $200 closing fee.


"John Galban" wrote in message
om...
Todd wrote in message
...
I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

Contact Mike Jacobs at http://www.1st-of-pryor.com/ . He knows
airplane financing and also runs one of the better Piper listservs.

Looks like the current rates are between 7.99% and 8.25%, depending
on the plane and loan amount.

John Galban=====N4BQ (PA28-180)

"John Galban" wrote in message
om...
Todd wrote in message
...
I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

Contact Mike Jacobs at http://www.1st-of-pryor.com/ . He knows
airplane financing and also runs one of the better Piper listservs.

Looks like the current rates are between 7.99% and 8.25%, depending
on the plane and loan amount.

John Galban=====N4BQ (PA28-180)

You can get home equity loans for 3.5 to 4%. The rate is variable but
probably won't get to the above rates for quite a few years.

I got 6.25 on my plane through MBNA


Todd wrote:

I'm a new pilot thinking about buying an old plane. What are typical
interest rates and terms for financing? Looking for a cessna 152 or
172.

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