Aircraft Financing

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Apache123

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Hey, Steve!
There was a thread with some great recommendations for insurance, I'm wondering if anyone has recommendations for aircraft financing/brokers.

I'm getting everything in order for a buy in July hopefully; does anyone have any recommendations for a financer/broker that'll do a 1960 piston single around 40k?
 
Apache123 said:
There was a thread with some great recommendations for insurance, I'm wondering if anyone has recommendations for aircraft financing/brokers.

I'm getting everything in order for a buy in July hopefully; does anyone have any recommendations for a financer/broker that'll do a 1960 piston single around 40k?
Click to expand...

Did you get the Apache sold?

I just put a contract in on a 1967 Cherokee D and got quotes through EAA (falcon) and AOPA. The AOPA was a little less expensive and I'll probably end up going through them.

OOPS Sorry, I went insurance there...I did talk with Dorr, and they got me pre-approved at the same loan level, though I am going with a local bank
 
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Apache123 said:
I'm getting everything in order for a buy in July hopefully; does anyone have any recommendations for a financer/broker that'll do a 1960 piston single around 40k?
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At that low amount of principle, check with the local banks. Our ownership club has a good deal with a local bank for two aircraft + upgrades. When we recently shopped for a better deal with local and national financial providers, we confirmed our local bank continues to have the best deal.
 
mnewb1 said:
Did you get the Apache sold?

I just put a contract in on a 1967 Cherokee D and got quotes through EAA (falcon) and AOPA. The AOPA was a little less expensive and I'll probably end up going through them.

OOPS Sorry, I went insurance there...I did talk with Dorr, and they got me pre-approved at the same loan level, though I am going with a local bank
Click to expand...

Yep the Apache sold. =D

I'm trying to buy a Comanche that's been for sale on this board for some time~~
 
I'd stay away from MBNA if that's who AOPA is still using. They were a pain from day one on the loan, from closing on the airplane, to spending years trying to understand what this goofy $1 discrepancy on the bill. They just wouldn't call back. I'd hit up MBNA reps at Oshkosh who all PERSONALLY guaranteed to resolve the issue but nobody ever did. It was after they managed to **** off: my insurance company, my mechanic, and me over signing over the insurance payment check that I told them to take a flying hike, they could keep the insurance settlement check (it was more than the loan balance), and that I would NEVER Go near an MBNA product again.
 
AOPA is using Bank of America. Others have stated few issues, but I have no first hand information.


flyingron said:
I'd stay away from MBNA if that's who AOPA is still using. They were a pain from day one on the loan, from closing on the airplane, to spending years trying to understand what this goofy $1 discrepancy on the bill. They just wouldn't call back. I'd hit up MBNA reps at Oshkosh who all PERSONALLY guaranteed to resolve the issue but nobody ever did. It was after they managed to **** off: my insurance company, my mechanic, and me over signing over the insurance payment check that I told them to take a flying hike, they could keep the insurance settlement check (it was more than the loan balance), and that I would NEVER Go near an MBNA product again.
Click to expand...
 
flyingron said:
I'd stay away from MBNA if that's who AOPA is still using. They were a pain from day one on the loan, from closing on the airplane, to spending years trying to understand what this goofy $1 discrepancy on the bill. They just wouldn't call back. I'd hit up MBNA reps at Oshkosh who all PERSONALLY guaranteed to resolve the issue but nobody ever did. It was after they managed to **** off: my insurance company, my mechanic, and me over signing over the insurance payment check that I told them to take a flying hike, they could keep the insurance settlement check (it was more than the loan balance), and that I would NEVER Go near an MBNA product again.
Click to expand...

I thought MBNA is long defunct, now part of Bank of America. I had 2 MBNA loans 10-15 years ago. Both processes went smoothly and no hitches.
 
Went with AOPA ,bank of America ,could have gone with them direct. No problems rate was fair.
 
We deal with a credit union. They are superb. Used to finance with a bank that we used. They were pretty darn good too. Hypothecate!
 
jonnyjetprop said:
AOPA is using Bank of America. Others have stated few issues, but I have no first hand information.
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The AOPA Aircraft a Finance program is no longer affiliated with Bank of America. It is now run by AOPA itself and uses a consortium of banks and lending institutions in order to find the best fit for a particular buyer. The result is much broader financing opportunities than with BoA. http://finance.aopa.org
 
TomHaines said:
The AOPA Aircraft a Finance program is no longer affiliated with Bank of America. It is now run by AOPA itself and uses a consortium of banks and lending institutions in order to find the best fit for a particular buyer. The result is much broader financing opportunities than with BoA. http://finance.aopa.org
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Good to know
 
dwalt said:
We had great experience with US Aircraft Finance: http://www.usaircraftfinance.com/

Very helpful, easy to deal with, and they're the direct lender so you're not dealing with a middleman.
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+1

I am dealing with them right now getting funds in order. They will do a 1960 model piston single I know. Very helpful and friendly as long as you can get the plane to meet their valuation. A simple phone call is all it takes to find out.
 
Red River State Bank of Halstad, MN.
 
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