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#75219 01/11/07 02:44 PM
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What is a good starting point to check out financing a 1966 150F?

Warren_Turner #75220 01/11/07 03:01 PM
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If you can swing a home equity loan you can deduct the interest on your tax return.

Geo.


George Abbott, PE
George_Abbott #75221 01/11/07 03:44 PM
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If you can swing a home equity loan you can deduct the interest on your tax return.

Geo.

Subject to some restrictions.....(i.e. I believe IRS code restricts deducting the interest over a certain loan to value if not used for home improvement or education, but I beleive that number is 100% LTV)

There are several companies out there that do the financing. Most with favorable rates and long terms. I have used Soveriegn bank through a broker twice, however they were bought out.

Talk to your own bank or credit union as they may have an aircraft finance program.

Check Trade-a-Plane for ads as there are several banks (some small Midwest ones) that do AC financing.

But yes, a home equity product is going to get you the best rate, terms, and potential interest deduction in nearly every case.

Jeff "the banker" Davis <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

Warren_Turner #75222 01/11/07 04:44 PM
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You can also check out AOPA financing.

Warren_Turner #75223 01/11/07 07:46 PM
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Warren

I have done this twice - once with the 150F, and the second time with the Cherokee.

First Midwest [fnbmidwest.com]

A nice little midwest bank happy to help you - and they're at Oshkosh every year.

I've found them honest and helpful when it comes to taking my hard earned cash. Can't say enough nice things about them!

Robert Krone #75224 01/12/07 12:13 AM
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You can also check out AOPA financing.


AOPA did us a fantastic job with two airplanes.
they make purchasing an airplane very very easy! I highly recommend them!

Warren_Turner #75225 01/12/07 12:34 AM
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I just used AOPA, they were very fast, the documents take care of everything, lein search, reg, faa paperwork all for a very small fee. I highly recomend them.
John


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