Asset-Based Lenders

robicano22 said:
No one has even answered my question which was "does anyone know of asset-based aircraft lenders?"
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It is hard to answer your question unless you describe what kind of assets you have. A home? Yes. Equities... maybe. Other assets... welp... hard to answer your question without asking what kind of assets you have.

robicano22 said:
The trolls are just after "WeLl WhAt KiNd Of AsSeTs Do YoU hAvE?" so they can swing their dongs from their hangar office.
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I guess that makes me a troll then since I did ask WhAt KiNd oF AsSeT dO YoU hAvE (it's hard to type like that lol)... And what I do with my dong in my hangar is none of your bizness.... I only wish my hangar had an office.... Maybe I could add one if I could find an asset-based lender... maybe I should start a thread about that....

Seriously, though. If you want helpful answers from the folks here, you might want to stop being such a d**k in how you respond to people asking for more information.
 
Deelee said:
Equities... maybe.
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Equities are easy. Put them in a margin brokerage account and write a check on the account. How big a check will depend on the value and type of equities, but generally about 50% of the value is available.
 
Hard money lender. These are the guys that'll take a little more then a bank but not too much. Find a house flipper, they're almost always in the know of a few of them.
 
Well if all else fails and you are really determined you could always use the Clyde Barrow method ... :rockon:

No not really!!!
 
Daleandee said:
Well if all else fails and you are really determined you could always use the Clyde Barrow method ... :rockon:

No not really!!!
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Lottery tickets
Go Fund Me
Bit Coin Futures
Go to Vegas, put it all on 13 and spin the wheel....
 
Go to the bank, get an unsecured loan. Interest will be kinda high, but no worries, just pay it off in a month or two.
 
Jim K said:
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Stopped in Dunnellon on the way back from SnF. Got a ride into town and the driver could not/would not shut up about all the money he was making on Dogecoin ...
 
bluerooster said:
Go to the bank, get an unsecured loan. Interest will be kinda high, but no worries, just pay it off in a month or two.
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Banks give unsecured loans to people without a nice credit report?
 
midlifeflyer said:
Not funny, sensible. It's easy and cheap to foreclose on a house. A very expensive royal pain to foreclose on an airplane.
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Yup...but even home loans are based on having enough income to pay the note. Equity loans without adequate cash flow is how banks became notorious farm owners in the 80s.
 
MauleSkinner said:
Yup...but even home loans are based on having enough income to pay the note. Equity loans without adequate cash flow is how banks became notorious farm owners in the 80s.
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Absolutely. Even in the heyday of bad lending, I did not personally come across a bank which preferred foreclosure to simply getting paid on time.
 
midlifeflyer said:
Absolutely. Even in the heyday of bad lending, I did not personally come across a bank which preferred foreclosure to simply getting paid on time.
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Not banks, but there are many "tote the note" auto lenders happy to collect a down payment and a few monthly payments before repossessing the collateral and selling it again.
 
Lindberg said:
Not banks, but there are many "tote the note" auto lenders happy to collect a down payment and a few monthly payments before repossessing the collateral and selling it again.
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Yeah, there are plenty of unregulated and semi-regulated lenders out there with their own agendas.

They wouldn't be interested in airplanes.
 
Jumpmaster said:
Never borrow from a 401K or 403b or the equivalent, especially for a toy. Most expensive money ever when you calculate lost opportunity costs, particularly in a strong stock market like we’ve generally seen the last few years.
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OTOH, if you borrow in a bear market, you get to pay back your account with interest rather than lose money.

But in general, if you're not in a strong stock market, then you're losing out on potential gains. The S&P 500 was up about 65% in the past year. No matter where your money was, if you weren't in the market, you missed it.
 
LightStream! If you have great credit and an good income they will approve you. You’ll have the cash in the same day and it’s almost too easy. So easy, in fact, that I almost impulse bought a Cessna 310 (that also came with a second parts plane). I needed to act quick and Lightstream was the fastest way to get the cash. I had the money that afternoon. After thinking about hangaring two 310s and a Comanche, along with all the maintenance, I backed out. Gave the cash back, no penalties. They don’t take any info on the aircraft and there is no lean on the plane. I had a great experience with them and recommended them to everybody.
 
aftCG said:
Banks give unsecured loans to people without a nice credit report?
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No they don't, but one should get that fixed prior to taking on any/(more) debt. They will loan money backed by the money loaned though.
Easy way to establish credit with the bank.
 

"don't finance toys -- particularly capital-intensive toys sold at the top of the market".

Sorry but that's not universally true.

When is that not true?
 
Wingsofglass said:

"don't finance toys -- particularly capital-intensive toys sold at the top of the market".

Sorry but that's not universally true.

When is that not true?
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When you can afford to buy the toy with cash, but you will have a higher return keeping your money in an investment than the interest payable on the toy loan?

Sent from my SM-N976U using Tapatalk
 
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