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Sure Aviation Finance: Are They Any Good?

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Sure Aviation Finance: Are They Any Good?

Old 10th Feb 2020, 13:09
  #1 (permalink)  
Thread Starter
 
Join Date: Apr 2021
Location: London
Posts: 2
Hi everyone,
So I'm trying to get a loan sorted for flight school. I've came across a website called Sure Aviation Finance which offer loans for pilot training with 3.5% APR which is a lot better than anywhere else be it banks or loans. I've explained to them the school I'm going to is in Cork, Ireland and they haven't said it's outside the UK so I assume that's not a problem as it was with another finance company. I'm due to call them this week and I'm just double checking to see if anyone here has dealt with them and if they are recommended?

Thanks for any help you can all give me.
FriendlyAviator is offline  
Old 16th Apr 2021, 11:54
  #2 (permalink)  
 
Join Date: Jul 2017
Location: Netherlands
Posts: 345
If you have to get a loan for flight school you can't afford flight school. Strongly advise against getting any loans for flight training unless it's for a type rating with a guaranteed job at the end.
Negan is offline  
Old 17th Apr 2021, 09:54
  #3 (permalink)  

PPRuNe Handmaiden
 
Join Date: Feb 1997
Location: Duit On Mon Dei
Posts: 4,359
They are a broker. I don't know any thing about them at all.
redsnail is offline  
Old 17th Apr 2021, 10:15
  #4 (permalink)  
 
Join Date: Sep 2018
Location: FL420
Posts: 10
I would not take loans for my flight training if I were you, this might ruin your life as nothing is guaranteed in this volatile industry.
RongProcedure is offline  
Old 18th Apr 2021, 00:28
  #5 (permalink)  
 
Join Date: Mar 2016
Location: From UK
Posts: 78
I can only echo what other posters have said. Just don't.

Taking on any debt to undertake flight training has always been a big risk. In these Covid times, it is a massive risk. I have a good friend from flight school who is in debt close to £50k (so not as bad as many others) who is scrambling to pay it off by getting any job going as there are few flying jobs on the near horizon. I really can't imagine what people who have taken on six figure loans are doing at the moment.

There are other ways to do things.
You could go modular which spreads the cost and lowers the risk dramatically. You would start doing the PPL and after that the ATPL exams and hour building. All three of them whilst working and your job would pay for your flying. If you're lucky, you might be able to live with your parents for free/ very little over the next few years to help realise the dream. If not, it can still be done, but with a little more difficulty.
The cost in different places varies dramatically, but could reasonably be done for £20k-£25k here in the UK. If you get a full time job, that should be doable in 2-3 years with good budgeting.
The next bit of the training (CPL/IR/MEP) is a bit more expensive and more intense. TBH, I only know people who have done it full-time, but it could also be done whilst working. Hopefully someone on here could help with that if you were interested.
RedDragonFlyer is offline  
Old 18th Apr 2021, 03:07
  #6 (permalink)  
short flights long nights
 
Join Date: Aug 1999
Posts: 3,225
Three words .. Donít do it.
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