Owners,

Who has financed a single engine personal airplane? I am looking for the best company to do this with. I am probably looking to purchase something out of the 1950s, which is probably limiting due to the age. I have read a little about AOPA & US Bank. Who are the others?

Please share personal experiences, and thoughts.
(Yes I know Dave Ramsey would not approve, my only loan payment is a home, so... )

Thanks
byeBill

I was happy with my service at Bank of America. There are only a couple people who deal with aircraft financing, so even though it's a huge organization the service was very personal.

Don't know if they are best but I used them in the past, I got an equity line of credit on my house after and paid the plane off now I just pay on the ELC and deduct the interest from income taxes.

https://www.onlinelcsb.com/asp/products/product_3_5.asp

Pm me. I do private financing.

Had real good luck with First Pryority Bank in Oklahoma (Pryor, OK).

They do a lot of aircraft financing, real friendly to deal with and seem to know what they are doing.

Www.airloans.com

NAFCO has the best rates right now.

Might be tough to finance something that old... But it doesnt hurt to try.

I had awesome luck with Dorr Aviation for my Skywagon. The owner was a long time Cessna dealer and a huge TW enthusiast. They really see to get it much more than the others I tried.

Good luck!

Most outfits, nafco and BoA specifically will not finance anything from the 50s. Specifically anything over 50 yrs old and oh it had better not have been wrecked either. If you are financing you should be looking at 1964 or newer.

If you own your ho,me and have enough equity, seems like a home,load/second/re-fi/whatever would be the way to go. Hopefully get a good rate and write off the interest to boot.

hotrod150 wrote:If you own your ho,me and have enough equity, seems like a home,load/second/re-fi/whatever would be the way to go. Hopefully get a good rate and write off the interest to boot.

Good way to go if you can wade through the BS. I just did a rental, boy the banks really scrutinize the loans now. Any extra money you pull out they want it invested back into the property. Um....right,

Really fantastic rates on your primary home now. 2.8% 15yr fixed.

My little local bank did it for me.
First name basis, hometown feeling:

mbankonline.com

Ask for Rob Bohannon

I found WWW.USAIRCRAFTFINANCE.COM to be a great fit for older aircraft, with great rates and terms. Small, personalized service.
Today's advertised rate is 4.4% FIXED on a 20 year term.

88H wrote:Had real good luck with First Pryority Bank in Oklahoma (Pryor, OK).

They do a lot of aircraft financing, real friendly to deal with and seem to know what they are doing.

Second this, they financed my 59' Cessna 182. Fabric might be an issue for them though. I know that I was looking to financing a Tailwheel Pacer and no one would financing that.

Give Wings Financial a look if you can qualify to join their credit union. I'm in the process of working on a loan through them right now. 2.99% for cars, trucks, boats, aircraft...no nonsense. I'll report back to let you know how mine turns out.

https://www.wingsfinancial.com/boatrvtoyloans

I know this has been an older thread, but I would like to introduce myself along with the company I run, FLYING Finance. We have helped countless people secure financing for many backcountry airplanes like Maules, Carbon Cubs, Cubcrafters, ETC. Would love to help anyone with any questions they might have, even if financing isnt your path! 702-444-2418! Call anytime.

hotrod180 wrote:If you own your ho,me and have enough equity, seems like a home,load/second/re-fi/whatever would be the way to go. Hopefully get a good rate and write off the interest to boot.

That, also probably better rates and chance of acceptance