On Sun, 11 May 2008 05:23:15 -0700 (PDT), Lou
wrote:


Is it possible to get a 15 year or even a 20 year loan on a 30 yo
plane?

I just gotta ask. Why would you want a 15-20 loan on a 30 yr aircraft?
The interest alone would darn near double the cost of the aircraft.
Thats not even mentioning the stress of having what adds up to
a second mortgage.
Just on a $40,000 loan at 7% your going to be spending approx $300 a
month
on interest alone. Depending on where you fly out of that can be 3-4
hours of
flying a rented airplane per month not to mention the principle
payment.
I agree with buying an aircraft but a15 year loan would scare me.
Lou

My preliminary fact gathering effort over the last few days has shown
me that my income is about $500 per month short of affording me the
opportunity to purchase an airplane. So close, yet so far away.

Rentals will be the future of this pilot's life until I take the last
flight out.

Thanks for the response.



Kirk
PPL-ASEL