Why do Finance Companies Hate Sailplanes?

On Thursday, June 6, 2013 5:46:47 PM UTC-6, noel.wade wrote:
On Jun 6, 4:14*pm, Bill D wrote:

"No can do" and "can do with a Personal Unsecured Loan at any reasonable bank" are contradictory statements. *Is it you can't get a loan, or you just don't like the interest rate on offer?



Bill - The issue is that aircraft-specific financing companies say "no

can do" when they discover the aircraft is a sailplane, not a

propeller-driven airplane. I can get loans for propeller-driven

aircraft all day long... I find it incredibly odd that they flatly

refuse to deal in sailplanes - but will happily finance prop-planes,

helicopters, and aircraft kits. They're willing to finance more-

complicated, higher-maintenance, more-costly-to-own assets that don't

necessarily have the same proven value-retention that Sailplanes do.


It's education. The SSA undertook to educate LCSB about the value of making sailplane loans. We all need to do the same with the banks who do airplane lending. Ask a loan officer to call LCSB and discuss the business.