X-Virus-Scanned: clean according to Sophos on Logan.com Return-Path: Sender: To: lml@lancaironline.net Date: Wed, 19 Feb 2014 08:03:41 -0500 Message-ID: X-Original-Return-Path: Received: from [207.46.163.209] (HELO na01-bl2-obe.outbound.protection.outlook.com) by logan.com (CommuniGate Pro SMTP 6.0.8) with ESMTPS id 6739267 for lml@lancaironline.net; Wed, 19 Feb 2014 07:59:02 -0500 Received-SPF: error receiver=logan.com; client-ip=207.46.163.209; envelope-from=lancair-esp@ustek.com Received: from BL2PR04MB020.namprd04.prod.outlook.com (10.255.228.25) by BY2PR04MB680.namprd04.prod.outlook.com (10.141.217.156) with Microsoft SMTP Server (TLS) id 15.0.883.10; Wed, 19 Feb 2014 12:58:11 +0000 Received: from BL2PR04MB020.namprd04.prod.outlook.com ([169.254.5.197]) by BL2PR04MB020.namprd04.prod.outlook.com ([169.254.5.197]) with mapi id 15.00.0883.010; Wed, 19 Feb 2014 12:58:10 +0000 From: Lancair-ESP X-Original-To: Lancair Mailing List Subject: RE: [LML] wanted to buy lancair ES Thread-Topic: [LML] wanted to buy lancair ES Thread-Index: AQHPLWHT3vxjbDzPIEuArEAA+zehzJq8h64ggAAB6rA= X-Original-Date: Wed, 19 Feb 2014 12:58:10 +0000 X-Original-Message-ID: References: <5303482A.7010604@lm50.com> Accept-Language: en-US Content-Language: en-US X-MS-Has-Attach: X-MS-TNEF-Correlator: x-originating-ip: [70.62.14.122] x-forefront-prvs: 012792EC17 x-forefront-antispam-report: SFV:NSPM;SFS:(10019001)(377454003)(479174003)(24454002)(189002)(199002)(69226001)(87266001)(56776001)(54316002)(19580395003)(76482001)(83322001)(19580405001)(94946001)(95666001)(95416001)(85306002)(86362001)(94316002)(87936001)(81342001)(47736001)(50986001)(47976001)(2656002)(4396001)(49866001)(81542001)(74502001)(74662001)(93136001)(93516002)(31966008)(47446002)(80976001)(33646001)(46102001)(54356001)(53806001)(51856001)(77096001)(74366001)(79102001)(77982001)(59766001)(15975445006)(81816001)(63696002)(74316001)(81686001)(19300405004)(16236675002)(76576001)(15202345003)(76796001)(76786001)(65816001)(66066001)(56816005)(92566001)(90146001)(80022001)(74706001)(85852003)(74876001)(83072002)(425814002)(24736002);DIR:OUT;SFP:1102;SCL:1;SRVR:BY2PR04MB680;H:BL2PR04MB020.namprd04.prod.outlook.com;CLIP:70.62.14.122;FPR:ECDFF219.EABE5FD8.BFFB614F.8AEFFC60.2026E;PTR:InfoNoRecords;MX:1;A:1;LANG:en; Content-Type: multipart/alternative; boundary="_000_d248102019e3468584578285f75c0d6aBL2PR04MB020namprd04pro_" MIME-Version: 1.0 X-OriginatorOrg: ustek.com --_000_d248102019e3468584578285f75c0d6aBL2PR04MB020namprd04pro_ Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: quoted-printable Trouble getting a loan? Not really - indeed not at all! I secured a business loan for my company based solely on my Lancair ES-P. The "used aircraft" value at the time was $375,000. I had the hull insuranc= e at $300k and that was the line granted by the lender. Never had a problem renewing insurance and Skysmith shopped to ensure my ra= tes stayed reasonable. Robert Simon Lancair ES-P N301ES From: Hamid Wasti [mailto:hwasti@lm50.com] Sent: Tuesday, February 18, 2014 6:47 AM To: Lancair Mailing List Subject: Re: [LML] wanted to buy lancair ES On 2/17/2014 1:18 PM, Dr. Jamie Fettig DC wrote: Having troule getting financed for experiemental plane (even though I got a= pproved for $200k on a colubmia 350) The reason you will have a really hard time getting a loan against a homebu= ilt aircraft is insurance. If you are planning to use the the aircraft as a collateral, the lender wil= l want to protect that collateral by requiring that the aircraft be insured= . 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 reasonabl= e expectation that you will be able to get it next year or a few years from= now. Your only hope for financing a homebuilt aircraft is to get a loan against = some other asset or an unsecured loan. Regards, Hamid --_000_d248102019e3468584578285f75c0d6aBL2PR04MB020namprd04pro_ Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable

Trouble getting a loan= ?  Not really – indeed not at all!

 

I secured a business l= oan for my company based solely on my Lancair ES-P. 

The “used aircra= ft” value at the time was $375,000. I had the hull insurance at $300k= and that was the line granted by the lender. 

Never had a problem re= newing insurance and Skysmith shopped to ensure my rates stayed reasonable.=

 

Robert Simon

Lancair ES-P N301ES

 

From: Hamid Wasti [m= ailto:hwasti@lm50.com]
Sent: Tuesday, February 18, 2014 6:47 AM
To: Lancair Mailing List
Subject: Re: [LML] wanted to buy lancair ES

 

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

Having troule getting financed for e= xperiemental plane (even though I got approved for $200k on a colubmia 350)=

The reason you will have a really ha= rd time getting a loan against a homebuilt aircraft is insurance. 

If you are planning to use the the aircraft as a collateral, the lender wil= l want to protect that collateral by requiring that the aircraft be insured= . 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 a= ble to get it next year or a few years from now.

Your only hope for financing a homebuilt aircraft is to get a loan against = some other asset or an unsecured loan.

Regards,

Hamid

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