The average for a larger plane (small business jet and above) is approx 20 years. Planes don't lose value the way cars do so banks are not as concerned about the sales price 20 years later. -Dan
Do they repo an airplane the same way they do a car? Does someone literally sneak into the airpor and fly away with it in the dead of night, or do they send the sheriff with an order to turn it over? I never thought about this!
It's not about the aircraft. It is about if they see you as a credit risk. You can get a loan on almost anything, but if they don't believe you can pay, they will not finance it. -Dan
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Well said. Short and precise.
Great video.
Thanks! Glad you liked it! -Dan
Good video
If you go thru a bank, how long can you finance it? 12, 15, 20 plus years?
The average for a larger plane (small business jet and above) is approx 20 years. Planes don't lose value the way cars do so banks are not as concerned about the sales price 20 years later. -Dan
Will Banks finance experimental aircraft? What about older planes for poorer people. Will they finance a 20 yr old plane for 15 yrs? Thanks
They will finance anything if there is a reasonable assumption they will get their money back. Collateral goes a long way. -Dan
How are you going to get 10% ROI on stocks?
My money manager is very good and consistent. -Dan
Do they repo an airplane the same way they do a car? Does someone literally sneak into the airpor and fly away with it in the dead of night, or do they send the sheriff with an order to turn it over? I never thought about this!
@NonyaBusiness! That's a reality show I would definitely watch...
@@erikig @NonyaBusiness! airplane repo was a show for a few years 2010-2015 on disovery
@NonyaBusiness
Is it better to own or rent???
100% personal opinion. Mathematically it is "cheaper" to own around 100 hrs but there are non financial costs to take into consideration. -Dan
Will banks loan on aircraft older than 1975
It's not about the aircraft. It is about if they see you as a credit risk. You can get a loan on almost anything, but if they don't believe you can pay, they will not finance it. -Dan
you can buy a super nice home for the price of a plane old 172 !!
Yes! My old 172 cost $38,000 USD. A brand new one is $400,000USD!!! -Dan