1. Tommar98

    Tommar98 Pre-Flight

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    May 3, 2018
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    Tommar98
    Looking to finance a new (used plane) $60k range. I'm looking for suggestions on companies they've dealt with for funding and pros and cons. Thanks


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  2. sferguson524

    sferguson524 Pattern Altitude

    Joined:
    Feb 8, 2011
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    Las Vegas
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    FormerSocalFlyer
    No input.. Just here for the comments :popcorn:
     
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  3. Tommar98

    Tommar98 Pre-Flight

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    Tommar98
    Careful with too much popcorn...effects weight and balance!


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  4. sferguson524

    sferguson524 Pattern Altitude

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    FormerSocalFlyer
    Same with $100 burgers..
     
  5. bradg33

    bradg33 Cleared for Takeoff

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    Esquire99
    Lightstream is my preferred option. Unsecured, easy online application with nearly instant approval, funds wired directly to your bank account. No need to mess with telling the bank what you're going to buy, liens, paperwork, etc. Super easy, decent terms.
     
    blurceo likes this.
  6. mr_happyland

    mr_happyland Pre-takeoff checklist

    Joined:
    Nov 3, 2013
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    185
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    Los Angeles
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    mr_happyland
    I used Wings Financial. 3.9%. Best deal I found when searching. Relatively easy to setup. Rates may have increased since then (2 years ago).
     
    rtk11 likes this.
  7. Challenged

    Challenged Cleared for Takeoff

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    Apr 4, 2011
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    Louisiana
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    Challenged
    rtk11 likes this.
  8. frfly172

    frfly172 Touchdown! Greaser!

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    Oct 22, 2008
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    mass fla
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    ron keating
    I used Aopa ,but their rates were high. Also haeused Dorr for smaller loans.
     
  9. rtk11

    rtk11 Cleared for Takeoff

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    Apr 25, 2015
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    rtk
    I used Wings Financial as well. Easy setup, good rates. Very happy with my experience with them.
     
    Tommar98 likes this.
  10. muddy00

    muddy00 Pre-takeoff checklist

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    Aug 19, 2014
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    muddy00
    Red river state bank. Awesome to work with.
     
  11. Ben2k9

    Ben2k9 Pre-takeoff checklist

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    Jan 21, 2018
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    Ben2k9
    Ditto this
     
  12. blurceo

    blurceo Pre-Flight

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    Apr 8, 2015
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    blurceo
    I've used Lightstream before and probably one of the easiest loan processes I've dealt with. SOFI will also do unsecured loans. Rates are a little higher but you can have your money in less than 12 hours.
     
  13. Lachlan

    Lachlan Pattern Altitude

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    Lachlan
    I used my bank account. This thread would not be up to PoA standards if someone didn't mention that if you have to finance the purchase of an airplane then you can't afford to own an airplane. ;) Good thing that's out of the way. Carry on.
     
    Possum likes this.
  14. SkyDog58

    SkyDog58 Touchdown! Greaser!

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    Jun 11, 2015
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    Old dog w/o new tricks
    I was thinking about gofundme.
     
    Ed Sokol, Lachlan and Ravioli like this.
  15. Skates97

    Skates97 Pre-takeoff checklist

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    May 22, 2016
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    Skates97
  16. eman1200

    eman1200 Ejection Handle Pulled

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    eman1200
    I borrowed from my uncle Vinny Goomba.
     
  17. Lachlan

    Lachlan Pattern Altitude

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    Lachlan
    Go fund yourself! :)
     
    SkyDog58 likes this.
  18. flyingron

    flyingron Touchdown! Greaser!

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    Jul 31, 2007
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    FlyingRon
    I used AOPA's financing (I think they're BofA now, it's the same people but the bank that employs them keeps changing). They're pretty good on the acquisition side. They'll write anything that they can get a blue book value for.
    The downside is their servicing is a complete disaster. I had small discrepancies that I was NEVER able to to get resolved over the course of the loan. It turns out after I finally closed the thing out that they were in my favor but darned if I could figure that out and despite countless calls to them and hitting the guys in the booth up at Oshkosh and the AOPA events who "promised" to get to the bottom of it, it never did.

    The final straw came when I got the check for the insurance work after the engine failure. Of course it's made out jointly to me and the lien holder. They gave so much grief (to both me and the mechanic, who says he's never dealt with jerks like that before), that I pointed out that the check was for MORE than what was remaining on the note and they should just close out the loan with it. Of course, the morons sent me the check at that point for my endorsement and I noted when I went to sign it that THEY had already endorsed it, so I could have just deposited the thing at that point.