Lenders?

I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott

Call Randy Aarestad at Red River Bank
He's a pilot and familiar with twins. We looked at a nice Aztec that he's
currently selling.
MBNA turned me down because my house was paid for. Honest.
Jim

"12voltman" wrote in message
om...
I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott


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My partner and I are purchasing a Mooney and are going thru NAFCO
(www.airloans.com) Good terms.. better than AOPA by a long shot. The guy
we are dealing with is Bill Leckie. Phone # 1-800-999-3712.

Why did ya get turned down from MBNA?

Jon Kraus
PP-ASEL-IA
Student Mooney purchaser

12voltman wrote:

I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott

Highly recommended. I have worked with them and they know airplanes and
money issues assoicated
with them very well.

http://www.1st-of-pryor.com/



On 17 Sep 2004 11:50:52 -0700, 12voltman wrote:

I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott



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"12voltman" wrote in message
om...
I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott

Home equity rates are so low right now.
That's the route I took.

Adam

This lender says right on their websight that they won't lend on twins.
Their rates are also quite high. You can do better for sure.

Jon Kraus
PP-ASEL-IA
Student Mooney purchaser

Ray Bengen wrote:
Highly recommended. I have worked with them and they know airplanes
and money issues assoicated
with them very well.

http://www.1st-of-pryor.com/



On 17 Sep 2004 11:50:52 -0700, 12voltman wrote:

I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott

The guy I bought my citabria from had financed it through his credit union.
Dave
68 7ECA

12voltman wrote:
I am looking to purchase a Piper Seneca II, and though my partner and
I have significant assets and good credit, we were turned down by
MBNA/AOPA.

Does anyone have an lender that they recommend? Had a great
experience with? etc.... There are a lot on the web, but I'd like to
have some first-hand recommendations before I go submitting another
application package.

Thanks,
Scott

12voltman wrote:

Does anyone have an lender that they recommend?

I financed my first aircraft with a "signature loan" from a Credit Union in
Tennessee. The terms of the loan were such that I could convert it to a lower
interest rate after purchase by signing over the aircraft as collateral. I originally
financed my second one through a "recreational vehicle" loan with another credit
union. When it became convenient to do so, I paid off that loan with money borrowed
against my 401K balance.

My CU in NJ no longer makes loans using the aircraft as collateral, but the interest
rate on the rec. vehicle loan is currently 6%. I wouldn't go with a signature loan
these days; the rate is 11%.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to have
been looking for it.