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#1
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Aircraft Financing
I'm debating the purchase of a plane and I was wondering what the
current rates are that anyone has gotten for financing on an aircraft for a loan amount of $50-60K for either a 5, 7, or 10 year term. I know that AOPA can quote this, and I'll be calling them tomorrow during business hours. However I wanted to see what other people had found by shopping around. Thanks, Eric |
#2
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Its amazing to me that some people finance their personal aircraft. The
monthly costs associated with owning an aircraft are so massive I can't imaging servicing a loan on top of that. -Robert, M20F |
#3
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Normally I'd agree, but in the short term it may make sense to finance
1/2 and then pay it off early at the beginning of next year to close out the loan. |
#4
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On 31 Aug 2005 15:31:59 -0700, "
wrote: I'm debating the purchase of a plane and I was wondering what the current rates are that anyone has gotten for financing on an aircraft for a loan amount of $50-60K for either a 5, 7, or 10 year term. I know that AOPA can quote this, and I'll be calling them tomorrow during business hours. However I wanted to see what other people had found by shopping around. Aviation loans tend to have higher rates than homes, cars, and even boats. I would expect somewhere between 8 and 10% depending on term and credit rating. If you have access to a line of credit on your home, look into using that - better rates and the interest will be tax deductible. -Nathan |
#5
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MBNA from AOPA quoted me 6.7% but I've heard of terms to get it down to 5.5%
wrote in message ups.com... I'm debating the purchase of a plane and I was wondering what the current rates are that anyone has gotten for financing on an aircraft for a loan amount of $50-60K for either a 5, 7, or 10 year term. I know that AOPA can quote this, and I'll be calling them tomorrow during business hours. However I wanted to see what other people had found by shopping around. Thanks, Eric |
#6
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Must be nice to have so much money one wouldn't have to finance.
"Robert M. Gary" wrote in message oups.com... Its amazing to me that some people finance their personal aircraft. The monthly costs associated with owning an aircraft are so massive I can't imaging servicing a loan on top of that. -Robert, M20F |
#7
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In article .com,
"Robert M. Gary" wrote: Its amazing to me that some people finance their personal aircraft. The monthly costs associated with owning an aircraft are so massive I can't imaging servicing a loan on top of that. -Robert, M20F Forgive me for not being rich! -- Chris Schmelzer, MD University of Arizona, UPH Kino |
#8
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Chris Schmelzer wrote:
In article .com, "Robert M. Gary" wrote: Its amazing to me that some people finance their personal aircraft. The monthly costs associated with owning an aircraft are so massive I can't imaging servicing a loan on top of that. -Robert, M20F Forgive me for not being rich! Robert indicated that he *cannot* imagine servicing a loan on top of monthly ownership costs. Doesn't come across as rich to me. rimshot At least one very wealthy person I know finances his aircraft because owning an aircraft is a large tax deduction for him (in the US) and because he is able to receive a larger return on his current capital than the cost of financing. -- Peter ----== Posted via Newsfeeds.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeeds.com The #1 Newsgroup Service in the World! 120,000+ Newsgroups ----= East and West-Coast Server Farms - Total Privacy via Encryption =---- |
#9
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Peter R. wrote:
At least one very wealthy person I know finances his aircraft because owning an aircraft is a large tax deduction for him (in the US) and because he is able to receive a larger return on his current capital than the cost of financing. I suppose this is a business aircraft? Us peons can only deduct loans on our houses. Of course, you can take out a loan on the house and use the money to buy a plane, but that's not exactly what most people mean by financing an aircraft. George Patterson Give a person a fish and you feed him for a day; teach a person to use the Internet and he won't bother you for weeks. |
#10
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George Patterson wrote:
I suppose this is a business aircraft? Us peons can only deduct loans on our houses. Of course, you can take out a loan on the house and use the money to buy a plane, but that's not exactly what most people mean by financing an aircraft. No, I was referring to the accelerated depreciation that the Fed currently allows. I wasn't even thinking about deducting the interest on the loans. -- Peter ----== Posted via Newsfeeds.Com - Unlimited-Uncensored-Secure Usenet News==---- http://www.newsfeeds.com The #1 Newsgroup Service in the World! 120,000+ Newsgroups ----= East and West-Coast Server Farms - Total Privacy via Encryption =---- |
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