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jawright · September 29th, 2006, 22:29

I've been saving about $1200/mo. toward my commercial, but I really want to start flying soon so I can get it done before May. If I took out a loan, I could pay it back as my paychecks come in.
I figure if I pay $3500 out of pocket and then take out a loan for another $3500, that should cover me (my FBO charges $175/hr for dual in a 172RG).

How hard is is to pay back a $3500-$4000 loan if you have roughly $600-$1200/mo. to spend on repayment?

September 29th, 2006, 22:29	#1
jawright Senior Member Join Date: Feb 2004 Location: in search of the elusive "BowieGoat." Posts: 424	I suck at financial stuff I've been saving about $1200/mo. toward my commercial, but I really want to start flying soon so I can get it done before May. If I took out a loan, I could pay it back as my paychecks come in. I figure if I pay $3500 out of pocket and then take out a loan for another $3500, that should cover me (my FBO charges $175/hr for dual in a 172RG). How hard is is to pay back a $3500-$4000 loan if you have roughly $600-$1200/mo. to spend on repayment?