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#130031 01/11/08 10:23 PM
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I recently applied to Bank of America aviation loans for an A150 and they wanted a ten year credit history. The problem is I am only 22 and I want this aircraft for training purposes and travel. I figure start out small and work your way up. Anyway does anyone know a bank out there that can help me out?


Be safe up there
Mark
Mark_Chandler #130032 01/11/08 10:32 PM
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Mark,

I know how you feel.....I started to buy airplanes at 18 and now at 23 i have a Long-eze,C150/150,C401,and C402 and an aerial mapping bus. I had to have a co-signer back in the day.There is a place out of lakeland that does a good job and you just have to have 3 years tax returns.I will look for there info....also try your local bank.

Chris

Chris_Cox #130033 01/11/08 10:39 PM
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that would be pretty good being that I only have about three years.

Thanks
Mark

Mark_Chandler #130034 01/11/08 10:52 PM
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im looking for it now online for you.....i know you can apply onlne also.I have nothing better to do im in trinidad in my 402 for work

Chris_Cox #130035 01/11/08 10:56 PM
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Chris_Cox #130036 01/11/08 10:58 PM
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awesome I am in Iraq serving in the army I will try those websites in the near future. Thanks for the help

Mark

Mark_Chandler #130041 01/11/08 11:43 PM
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good deal hope it works for you.Kick some ass over there

Chris_Cox #130045 01/12/08 12:14 AM
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Have you applied for an AOPA credit card? They might give you a good interest rate. That might be a decent way to finance part of it. As your credit builds, you'll get lots of "interest free for one year" offers and just keep transefering what's left at the end of the time period.

Be safe in Iraq!

Eric_Salvo #130128 01/12/08 10:03 PM
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Well I should be home before summer and oh yeah me and my guys are taking care of business. grin

by the way thanks for those web addresses I sent them some emails to see what there requirements are. Wish me luck I am applying for rotary wing for the army, I have had enough fun on the ground time to shoot some rockets.

Mark_Chandler #130137 01/12/08 11:59 PM
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I tried the banks when I bought my C-150M in 2005 and they kinda did not want to talk to me when they found out that I wanted less than $1,000,000.00 and wasn't buying a jet, or did not want to put 20% down. I eventually went to my own bank which set up a Home Equity Loan = Paid for the plane, my truck, all my credit bills at the time and ended up with a tax deductible loan payment that was $100.00 a month less than my original truck payment. (5% for 15 yrs) So equity in your home, if you own one, might be an inexpensive way to go; it was for me.

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