Aircraft financing

[ircphoenix]

Most of the financing is 15-20%... commercial is 30%. Dunno how that works out for the repayment math.

Edit: Nope. At 225 that'd take 155 months at 0% interest with a purchase price of 50k with 30% down. Maybe 225 for 15 years @30% down?

 

[Daytonabch04]

Honestly it seems like most of the companies are like "It's personal right? *wink* Good." Don't ask, don't tell. I absolutely shot myself in the foot by saying anything about a leaseback.

NAFCO has been the easiest to communicate with. Unfortunately the commercial loan isn't an option (with an excess of 15 hours a month leaseback) but Joy Thomas there has been FANTASTIC. If I pull the trigger and end up just buying the plane for myself, I will 100% go to her first.

Joy is fantastic. I went to college with her and know her well. She has been involved with NAFCO for several years and knows her stuff. She's a good friend.

 

[ircphoenix]

Joy is fantastic. I went to college with her and know her well. She has been involved with NAFCO for several years and knows her stuff. She's a good friend.

Well if you couldn't tell, I'm super impressed with her. She's great. Incredibly helpful. Most other places feel like "Oh. You want a commercial loan? For less than 100,000? Peasant." I've traded emails with her and she has been extremely helpful even after knowing she wasn't going to make any money from me.

 

[whereisrandall]

Oops - yep, forgot downpayment in that calculation. Good catch.

 

[gitmo234]

If you have "superior repayment capability" look into lightstream loans. I got mine at 4%, unsecured, in the drop down box I selected that it was for an aircraft but they honestly don't care, and didn't ask any questions. I believe at that time I had to show that I had >$100k in cash assets (I'm sure equity would count)