financing advice

[Pines2Palms]

Good morning y'all. Wondering if anyone has thoughts on best aircraft lender for a completed and already flying Vans. First plane so... looking for guidance from the pros (that's you all hahaha).

thx. MJ

 

[Airsick]

Great question, was wondering the same. Did you find a lender? I’m currently jumping through the AOPA hoops but am wondering if there’s a better option.

 

[jecutter]

It doesn't necessarily have to be an "aircraft lender" - check with your current bank. Don't overlook small local banks and credit unions even if they don't have "aircraft financing" on their website - it's worth a call to ask. I've had an aircraft financed by my credit union in the past and a couple of years ago I helped a student buy a helicopter that was financed by a small community bank in Kentucky (we aren't in Kentucky...) at a very competitive rate and terms.

 

[Webb]

Bank of America had an aircraft lending department. Don't know if they still do.

 

[Airsick]

It doesn't necessarily have to be an "aircraft lender" - check with your current bank. Don't overlook small local banks and credit unions even if they don't have "aircraft financing" on their website - it's worth a call to ask. I've had an aircraft financed by my credit union in the past and a couple of years ago I helped a student buy a helicopter that was financed by a small community bank in Kentucky (we aren't in Kentucky...) at a very competitive rate and terms.

Good tip, thank you.

I’m currently in a CL350 as well!

 

[jecutter]

Good tip, thank you.

I’m currently in a CL350 as well!

I won't be for much longer - brand new G-wagon coming this fall!

 

[RNB]

For my first plane I took out a personal loan through Lightstream. It was very fast, kept me from losing a sale. Few percent higher interest rate but I paid it off very early.