helicopterflyer
8th Jun 2012, 17:58
Can anybody help?
I'm newly registered on this forum, but been reading it for about 6 months. I started flying lessons last October (31 lessons so far). I'm based in England and looking to purchase a used R22 Beta or Beta II. I definately want to own my own machine and figure it's a good idea to buy one now, finish my training and get my licence on it. However, funding one is proving to be a challenge.
I've seen many advertised that have, say, 4-5 years of life left on them, anywhere from 600-1000 hours remaining and priced anywhere from £70,000 to £85,000. I've also seen several that have just had full 2200 hour rebuilds and priced anywhere between £110,000 to £120,000, so there are lots of choices. I couldnt stretch to anything over £100,000 due to the deposit requirement.
Am looking for pointers for obtaining finance on one. I have tried the biggest (Lombard) but they wont finance anything sub £125,000. Close Aviation want really high deposits and really short terms (24-months). I don't know of any other lender. My own bank don't touch aviation finance and my IFA has tried dozens of lenders in his contact book and none of them would finance aircraft.
Has anybody recently bought one (with finance) and can point me in the right direction to a lender that would be willing to finance a machine with 4-5 years left?
Or any other advice about this?
Thanks in advance
I'm newly registered on this forum, but been reading it for about 6 months. I started flying lessons last October (31 lessons so far). I'm based in England and looking to purchase a used R22 Beta or Beta II. I definately want to own my own machine and figure it's a good idea to buy one now, finish my training and get my licence on it. However, funding one is proving to be a challenge.
I've seen many advertised that have, say, 4-5 years of life left on them, anywhere from 600-1000 hours remaining and priced anywhere from £70,000 to £85,000. I've also seen several that have just had full 2200 hour rebuilds and priced anywhere between £110,000 to £120,000, so there are lots of choices. I couldnt stretch to anything over £100,000 due to the deposit requirement.
Am looking for pointers for obtaining finance on one. I have tried the biggest (Lombard) but they wont finance anything sub £125,000. Close Aviation want really high deposits and really short terms (24-months). I don't know of any other lender. My own bank don't touch aviation finance and my IFA has tried dozens of lenders in his contact book and none of them would finance aircraft.
Has anybody recently bought one (with finance) and can point me in the right direction to a lender that would be willing to finance a machine with 4-5 years left?
Or any other advice about this?
Thanks in advance