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  #1  
Old 07-25-2013, 02:23 PM
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RONSIM RONSIM is offline
 
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Default AOPA Aircraft Financing - No Experimentals

Been looking for financing to buy flying RV ----- just received reply from AOPA --- their lenders do not do experimentals! ---- Maybe another reason to put the membership money to better use?
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  #2  
Old 07-25-2013, 02:25 PM
David Paule David Paule is offline
 
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Try your local bank or credit union.

Dave
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  #3  
Old 07-25-2013, 05:19 PM
rv7charlie rv7charlie is offline
 
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Quote:
Originally Posted by David Paule View Post
Try your local bank or credit union.

Dave
That's what I did (before swearing off loans for toys).

Charlie
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  #4  
Old 07-25-2013, 05:28 PM
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bhassel bhassel is offline
 
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There may be others but NAFCO does loans for experimentals and kits. Most places that do loans for experimentals loves to hear the word 'Van's'...

Bob
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  #5  
Old 07-25-2013, 06:02 PM
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RV10inOz RV10inOz is offline
 
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Quote:
Maybe another reason to put the membership money to better use?
Do you have membership with a financial institution or with AOPA? The problem you have is with the lender, not AOPA.
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  #6  
Old 07-25-2013, 06:11 PM
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Neal@F14 Neal@F14 is offline
 
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Last year when I was in the process of arranging financing for my RV-6, BoA (thru AOPA) was still willing to lend on an RV, Glasair or Lancair, but no other experimentals. Likewise, NAFCO was also still lending on RVs. I ended up getting financed thru a local lender though, at a slightly better rate and the interest money I'll be paying stays local which I consider important to me.
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  #7  
Old 07-25-2013, 06:17 PM
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craigvince craigvince is offline
 
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Call Airfleet Capital.
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  #8  
Old 07-25-2013, 06:22 PM
Flybipe Flybipe is offline
 
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Default NAFCO

I have financed 2 experimental Pitts through NAFCO...absolutely a positive experience all the way around. Don't know what they are lending on these days but I wouldn't hesitate to call them again.
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  #9  
Old 07-26-2013, 06:22 AM
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n981ms n981ms is offline
 
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Default Agree in part

Quote:
Originally Posted by RV10inOz View Post
The problem you have is with the lender, not AOPA.
But... AOPA is big enough that they could leverage something for experimentals if they wanted to. Obviously they don't. Must not be worth the effort. I can understand that position. Unfortunately for AOPA, it draws our attention since they have to spell out the exclusion.
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Last edited by n981ms : 07-26-2013 at 06:35 AM. Reason: clarification
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  #10  
Old 07-26-2013, 06:30 AM
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LettersFromFlyoverCountry LettersFromFlyoverCountry is offline
 
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It used to be Greentree (a Saint Paul firm) that did a lot of experimental financing (and also mobile homes). Then they got swallowed up by a bigger financial institution (I can't remember which one) that became the poster child for subprime loans and the financial meltdown.

I turned to AOPA this week for some help with my 3rd class medical renewal. Their response was that I'd have to pay for the advice with some program they're selling.

AOPA's third-party company relationships is the way AOPA makes more money, whether it's pitching term life insurance, financing an airplane, or getting a credit card. They're not innocent bystanders to those services.

That said, experimentals have never been AOPA's thing, so I'm not entirely surprised by your experience.

Still, there are opportunities for aviation organizations who claim to be working for aviation's future, to consider what role they can play with the idea of putting someone's tush in their own airplane.
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