Financing flight training

DE727UPS

Well-Known Member
Came across this business the other day. www.pilotfinance.com

Have any of you used these guys and what do you think? I'm starting a small fight school will use the ability to finance as a marketing tool. I think financing is a good idea, or having the money saved up in advance, whatever it takes to be able to fly twice a week until you finish. In the long run you would save money by financing because you'd finish up quicker by not dragging out your training do to money problems.
 

jdflight

Well-Known Member
I've heard you talk about this school a couple times now, and I'm interested in hearing more. Aren't you still working at UPS? My MEI is tomorrow. Need a chief instructor?
 

ZUM

New Member
Pilotfinance worked well for my private pilot training, which I just recently finished. Probably the best thing about it was the quick turnaround from getting my application in to having money for training. It took a day or two. The way it works, the flight school sends pilot finance an invoice on some regular basis and they send a check to cover the costs for that period. So it's a distribution that's equal to the costs at any given period rather than a lump payment at any time. The plan that a student signs up for is based on a certain amount of lessons per week, I guess so that the payment distribution is somewhat the same on a week to week basis. The school where I trained though didn't have a problem with me going over the 2 lesson per week ration that I had originally signed up for. I did more like 4-5/week and nobody on either end ever said anything.
 

Prospective_Pilot

New Member
Thanks for the link!!!! Those loans are excellent and really affordable on that web site. I'm thinking about getting my PPL at Great Western Aviation at Salt Lake City International Airport here's the link for their website: www.gwaviation.com I called them yesterday to find out more info on them and so on, also was quoted it would cost between $6,000-$7,000 for a PPL which includes pretty much everything (flight gear, exams, groundschool, hours...etc...). Does that sound reasonable?

I'm going to talk to my parents tonight about getting my PPL.....AND see what I can negotiate with them. I'd like to start training for my PPL with in the next few months, so fingers crossed that I can come to some kind of an agreement with them.....



-Amos
 

pilot602

If specified, this will replace the title that
[ QUOTE ]
I called them yesterday to find out more info on them and so on, also was quoted it would cost between $6,000-$7,000 for a PPL which includes pretty much everything (flight gear, exams, groundschool, hours...etc...). Does that sound reasonable?

[/ QUOTE ]

Yup. I paid *$5,600 +/- for mine (headsets excluded). The quoted price was $6,200. When I got back from my checkride the flight school cut me a check for the balance. Nothing like a fresh PP certificate and a check for $800 bucks in your pocket!





*Note: I got my ticket at a ridiculously low number of hours - well below the average so I'm kind of the odd ball in the stats. But $6-7,000 is right where I was quoted and I got my PP almost two years ago!
 

DE727UPS

Well-Known Member
jdflight...it looks like I have three guys to instruct who are local, I think that's enough until there is need for another plane.

all...I would say 6 to 7K is high but it all depends one various parts of the country and type of airplane. I'll be running a 152 aerobat and I came up with 4K but that only includes 30 dual, 10 solo, ground school, books, and the checkride fee.
 

I_Money

Moderator
Don - Have you thought about becoming a DE. I am not sure how you actually do it, however I am sure with your qualifications it would be feasible. This would be a nice feature at your school, and it will keep it very personal and friendly.
 

mrivc211

Well-Known Member
We use pilotfinance for all our financing. Its been better than using Sallie Mae. The flight school doesn't get paid one lump sum, instead they fill out an invoice for every flight and they send them a check about a week later. Works out great for everyone. Especially about when I heard some flight school closed down somewhere and took off with millions of dollars from students.
 

sbe

Well-Known Member
my flight school uses Pilot Finance too. I got a brochure when I started, though I haven't used their services. I'm paying cash as I go and *knock on wood* so far it's working great.

I think my PPL in total came out to around $5k with 46 hours of flight time. I flew 172s, though.

Sarah
 

ready2fly

Well-Known Member
My FBO uses Sallie Mae. So did the FBO where I earned my Private ticket. My PPL came to just over $5K. I don't remember the exact total, but it was below $6K.

My instrument ticket on the other hand....... ouch! After a change of the aforementioned first FBO and instructors... well, let's just say it's going to be a pretty huge chunk of change.
 

DE727UPS

Well-Known Member
Iain...several of my friends wanted me to become a DE about six years ago. My impression is you have to kiss a lot of FAA butt to make it happen and I have some pretty strong beliefs/feelings about the FAA and general aviation that probably wouldn't go over well. In all my years of flying, I've only met one FSDO guy who was really pro GA and that is Scott Gardiner of the Seattle FSDO. I'm sure there are many others out there but it just seems funny that we all run around scared of the feds when they could be trying to help/promote the industry. Someday I may break down and look into it...especially if this new sport catagory thing takes off big time.

Thanks for all your replies about financing.
 
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