RV Re-Financing?

Time to re-finance the RV4 - I've run out of leads after a lengthy Goggle search of "NAFCO, AOPA - B.O.A. and AirFleet Capital" - any leads would be appreciated.

Thanks,

Bob

You can try http://www.1st-of-pryor.com/ I've got my contruction loan through them.

Have you tried your local banker?

Bob, I've bought quite a few airplanes over the years and I've never failed to get a loan from my local bank, at very competitive rates too.

You ought to give them a shot,

Regards,

Like Pierre, that's where I have mine. Could be a whole new avenue for your local bank to explore! Give it a shot!

Local bank (Credit Union)

Greetings Bob;
When I needed a loan for my C-150, I applied at my local bank. (Credit Union)
They had never loaned money on an airplane but, jumped at the opportunity to finance mine. All they required was an AOPA on-line appraisal (based on model/year) and verified insurance for coverage of the loan amount.
The interest rate was very competitve and approval was over-night.
They have since financed 3 other planes for credit union members.
I hope to repeat the process when I purchase or build a RV6/7.

It is a great time to finance (favorable interest rates being one of the few advantages of this economic recession)

Good luck!

Bob, I'm not sure anybody actually read your post. You said RE-finance if I'm not mistaken. All I can tell you is that NAFCO didn't offer any refis last time I checked.

Maybe others will chime in with REfi advice.

NAFCO did mine ok

Bob,
I have had my 8 financed from finish kit and engine....and I have refied about 4 times, the last time being about 1 year ago. Did they give you any reasons.
I tried 2 of my local banks that I have other loans with and very good history and they would not touch the RV?
DOug

The local banks around here look at you like you are crazy when you mention an airplane. They snicker when you mention it is an Experimental/Homebuilt airplane.

Even after educating them on what that means, they still just sit there and stare back at you.

Before the bank crash airplane loans were a dime a dozen. It seems not anymore.

I am sure they are still out there but not as many and not as easy to get.

Tons of people have experience with the way financing was before the crash and have none in todays situation.

While I know that the way financing is on a tight rope these days, I can't help but think that in the long run everyone will come to realize that it will be better for the population.

At one point I thought I could never get mine done without a $50K loan but now mine is almost finished with only small amount belonging to someone else!