Financing An Aircraft
While the search continues I'm considering the options in terms of type, hangarage and most importantly, budget.
At the cheapest end would be outright ownership of a single-seat homebuilt for a relatively small sum or a share in something better or borrow/spend more and buy something as sole owner or various permutations of the above or............you get the idea. What I was wondering though was how people (like me, who don't have the cash) finance their aircraft purchase when they want something outside the range of a 'normal' personal loan? Enquiries with the various lenders show that once you get above (say) £25,000 and/or 12 years they don't want to know. Clearly most of them can't think past used car loans.
That's probably just as well as the repayments on that sort of loan over 10 years would be pretty chunky so what's the next step up? A specific aviation loan or mortgage I suppose? Searching here revealed only one previous thread from 2003 so if anyone has any useful information I'm all ears. Or eyes. Or something.