X-Virus-Scanned: clean according to Sophos on Logan.com Return-Path: Sender: To: lml@lancaironline.net Date: Wed, 19 Feb 2014 07:58:54 -0500 Message-ID: X-Original-Return-Path: Received: from mail-oa0-f44.google.com ([209.85.219.44] verified) by logan.com (CommuniGate Pro SMTP 6.0.8) with ESMTPS id 6738575 for lml@lancaironline.net; Tue, 18 Feb 2014 16:22:41 -0500 Received-SPF: pass receiver=logan.com; client-ip=209.85.219.44; envelope-from=toddlong1@gmail.com Received: by mail-oa0-f44.google.com with SMTP id g12so20054063oah.3 for ; Tue, 18 Feb 2014 13:22:07 -0800 (PST) X-Received: by 10.182.142.229 with SMTP id rz5mr27964337obb.12.1392758527372; Tue, 18 Feb 2014 13:22:07 -0800 (PST) X-Original-Return-Path: Received: from [10.177.146.129] (118.sub-70-198-2.myvzw.com. [70.198.2.118]) by mx.google.com with ESMTPSA id h4sm138797952oev.2.2014.02.18.13.22.06 for (version=TLSv1 cipher=ECDHE-RSA-RC4-SHA bits=128/128); Tue, 18 Feb 2014 13:22:06 -0800 (PST) From: Todd Long Content-Type: multipart/alternative; boundary=Apple-Mail-4EEEA02A-E6C3-454A-BDD7-0EBF7A46DB3B Content-Transfer-Encoding: 7bit Mime-Version: 1.0 (1.0) Subject: Re: [LML] Re: wanted to buy lancair ES X-Original-Message-Id: <22DCB6CB-ED8D-4CD2-B0BC-43384A982F3E@gmail.com> X-Original-Date: Tue, 18 Feb 2014 15:22:04 -0600 References: In-Reply-To: X-Original-To: Lancair Mailing List X-Mailer: iPhone Mail (11B554a) --Apple-Mail-4EEEA02A-E6C3-454A-BDD7-0EBF7A46DB3B Content-Type: text/plain; charset=windows-1251 Content-Transfer-Encoding: quoted-printable Wings financial used to be northwest airlines credit union. So they do a lot= of aircraft. But you do not need to work for the airline anymore to join. L= ooked today. Rate still 2.99. Same as 2 years ago. And .25% discount for aut= o pay.=20 Sent from my iPhone > On Feb 18, 2014, at 12:42, Joseph Czabaranek wro= te: >=20 > BofA financed 80% of my 360 at 5.6%, 15yrs. Aircraft as collateral. >=20 > Joe Czabaranek >=20 >> On Feb 18, 2014, at 9:52 AM, Todd Long wrote: >>=20 >> Wingsfinancial credit union. 2.99% financed my ivp. Easy.=20 >>=20 >> Sent from my iPad >>=20 >>> On Feb 18, 2014, at 9:30, "Danny" wrote: >>>=20 >>> That=92s not true. Go to AOPA for homebuilt loans. >>> =20 >>> Danny >>> LNC2-360 Mk-II >>> Nothing is foolproof to the sufficiently talented fool. >>> =20 >>> From: Hamid Wasti [mailto:hwasti@lm50.com]=20 >>> Sent: Tuesday, February 18, 2014 6:47 AM >>> To: Lancair Mailing List >>> Subject: [LML] Re: wanted to buy lancair ES >>> =20 >>> On 2/17/2014 1:18 PM, Dr. Jamie Fettig DC wrote: >>>=20 >>> Having troule getting financed for experiemental plane (even though I go= t approved for $200k on a colubmia 350) >>> The reason you will have a really hard time getting a loan against a hom= ebuilt aircraft is insurance. =20 >>>=20 >>> If you are planning to use the the aircraft as a collateral, the lender w= ill want to protect that collateral by requiring that the aircraft be insure= d. All risk hull insurance for a homebuilt aircraft is expensive and unrelia= ble. Even if you are able to get insurance this year, there is no reasonable= expectation that you will be able to get it next year or a few years from n= ow.=20 >>>=20 >>> Your only hope for financing a homebuilt aircraft is to get a loan again= st some other asset or an unsecured loan. >>>=20 >>> Regards, >>>=20 >>> Hamid >>> -- >>> =20 >>> For archives and unsub http://mail.lancaironline.net:81/lists/lml/List.h= tml --Apple-Mail-4EEEA02A-E6C3-454A-BDD7-0EBF7A46DB3B Content-Type: text/html; charset=utf-8 Content-Transfer-Encoding: quoted-printable

Wings financial used to be northwest a= irlines credit union. So they do a lot of aircraft. But you do not need to w= ork for the airline anymore to join. Looked today. Rate still 2.99. Same as 2= years ago. And .25% discount for auto pay.

Sent from my iPhone=

On Feb 18, 2014, at 12:42, Joseph Czabaranek <joeczabaranek@gmail.com> wrote:

BofA financed 80% of my 360 at 5.6%,= 15yrs. Aircraft as collateral.

Joe Czabaranek

On= Feb 18, 2014, at 9:52 AM, Todd Long <toddlong1@gmail.com> wrote:
Wingsfinancial credit union. 2.99% financed my ivp. Easy.
=
Sent from my iPad
On Feb 18, 2014, at 9:30, "Danny" <danny@n107sd.com> wrote:

That=E2=80=99s not true. Go to A= OPA for homebuilt loans.

Danny
LNC2-360 Mk-II
Nothing is foolproof to the su= fficiently talented fool.
=
From: Hamid Wasti [mailto:hwasti= @lm50.com]
Sent: Tuesday, February 18, 2014 6:47 AM
To:= Lancair Mailing List
Subject: [LML] Re: wanted to buy lancair= ES

On 2/17/2014 1:18 PM, Dr. Jamie Fettig DC wrote:=

Having troule g= etting financed for experiemental plane (even though I got approved for $200= k on a colubmia 350)
The reason you will have a really hard time getting a loan against a hom= ebuilt aircraft is insurance.

If you are planning to use the t= he aircraft as a collateral, the lender will want to protect that collateral= by requiring that the aircraft be insured. All risk hull insurance for a ho= mebuilt aircraft is expensive and unreliable. Even if you are able to get in= surance this year, there is no reasonable expectation that you will be able t= o get it next year or a few years from now.

Your only hope for finan= cing a homebuilt aircraft is to get a loan against some other asset or an un= secured loan.

Regards,

Hamid
--

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