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#1
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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 |
#3
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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 |
#4
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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 -- Using Opera's revolutionary e-mail client: http://www.opera.com/m2/ |
#5
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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 |
#6
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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 |
#7
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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 |
#8
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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. |
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