Financing vintage

[Jtramo]

Who are people using to finance vintage stuff with the longer 20 year terms? I went through NAFCO and Pilot Bank for my 170 and the process was seemingly harder then a mortgage.

[3958v]

Not surprise. I am in the excavation contracting business and financing used equipment at reasonable rates takes a lot more paper work than in the past. In fact I am amazed that anyone would finance a classic plane on a long term like 20 years. Bill K

[rnealon1]

I used NAFCO/Pilot also in 2018, 20 year term. Just inquired through AOPA about a lower rate and was quoted 10%! No thanks.

Bob

[Jtramo]

Not surprise. I am in the excavation contracting business and financing used equipment at reasonable rates takes a lot more paper work than in the past. In fact I am amazed that anyone would finance a classic plane on a long term like 20 years. Bill K

For me it’s about staying more liquid during the honeymoon phase of a new to me vintage aircraft where you find out all the stuff the prebuy didn’t. And in my line of work the pay goes up over time so the chance of going anywhere near 10 let alone 20 is probably nil.

[IA DPE]

I put a lien on my pickup at <3% for 48 months to finance my airplane. Easy as any other auto loan.

[GAHorn]

Just don’t do any “reverse mortgage” loans.... an airplane can eat you out of house and home!

[Waterskipilot]

Following

[Deputydog]

I did the same thing as mentioned above, refinanced my truck for part of it, paid cash for the other 1/2. I too was concerned for any "surprises", but luckily didn't have any. I've since used some of the funds to add an Appareo ADS-B transponder (in and out), JPI fuel totalizer, and 8043 prop and a few other goodies.