Aircraft Financing

[Johnson412]

What is the most realistic way for an individual to secure financing for a small aircraft? In this case, an mid-80's model Hughes 300C helicopter.

[Heathrow Harry]

talk to your local AOPA chapter - they'll have a lot of suggestions

[cyclic flare]

Lombard are one of the aircraft finance companies. Very easy to deal with they have an aviation section

[cockney steve]

have a secure, high income and low liabilities, the greedy financiers will fall over themselves to lend someone-else's money,for which they'll pay buggerall and charge double figures.

They'll also expect to see a substantial deposit to verify that high disposable income.

............if, like the late George Best, you spend it on "booze,fast cars and women....and wasted the rest"
you may have a problem.

On a serious note,....many vendors of goods make a substantial portion of their income from finance-commission. It pays to shop around. generally a secured loan against your home is the cheapest borrowing,- Why?

You'll move hell and high-water to not lose your home,
compared with the item you're buying, the home is unlikely to depreciate as rapidly, if at all.
Their loan is covered multiple times (they will satisfy themselves that youhave sufficient equity in the security)

Borrowing money is very expensive, there's a lot of truth in the old axiom
"If it Flies, Floats or Fuxx, RENT IT "

Alternatively, set your sights a bit lower, save and pay cash for the more modest purchase, save the equivalent of the loan-interest and you'll be able to buy, outright, what you originally proposed,but in about
1/2 to 2/3 of the timescale it would take to pay "on the drip"

The "want it, and want it NOW" mentality is a very expensiveroute to ownership.
I only ever did it once, bought a motorbike and sidecar on 3 year HP
could have saved the cash and bought it in 2....lesson learned. only ever borrowed for business and property after that, where value appreciation or profit exceeded cost of borrowing.


EDIT:- OP is Texas -based, likely funding/finance/security conditions for loans are different than Ripoff Britain.