Financing

ed207063

New Member
I am going to start training VERY soon through the local flying club. (Not new equipment like the local FBO, but a SUBSTANTIAL cost savings over the FBO - something like 20-30%).

I will not be able to obtain a Sallie Mae loan through the club, since it's not affiliated with an FBO. It looks like my only option will be to go through AOPA/MBNA. Has anyone had any success/troubles with this route? I'm looking to secure enough to go at least through ASEL/Instrument for a total cost of around 7K +/- 10%.

TIA,
--Ed
 

blee256

Well-Known Member
Do you have credit cards? I called citibank a couple days ago about blah blah blah, and at the end of the call she said she can offer me a balance transfer rate of 4.9% until the balance paid off. I said no thanks, and the she said she can send me a check for 4500 and i can use it however i wish and still get the 4.9% apr until the balance is paid off. Sp 4.9 isnt bad. thats better than a key loan w/o a co-signer. And i cant imagine any other loan being less than that except maybe for a car. so check with them. Good luck.

-Brian
 

Vyse

BirchJet CA
[ QUOTE ]
Do you have credit cards? I called citibank a couple days ago about blah blah blah, and at the end of the call she said she can offer me a balance transfer rate of 4.9% until the balance paid off. I said no thanks, and the she said she can send me a check for 4500 and i can use it however i wish and still get the 4.9% apr until the balance is paid off. Sp 4.9 isnt bad. thats better than a key loan w/o a co-signer. And i cant imagine any other loan being less than that except maybe for a car. so check with them. Good luck.

-Brian


[/ QUOTE ]

If you take this route, better make sure you make all your payments on time. If you are late even once on a payment, CitiBank (or most of the other credit card companies, for that matter) can jack the interest rate up to the maximum (22.9 or 24.9 %).

-Hank
 

blee256

Well-Known Member
Key bank has a list of schools that it provides loans for. So you have to ask your FBO if they work with keybank.

Harlock, yes that is true. I think it goes up to 19.9 percent. YIKES!

-Brian
 

flyitup

Well-Known Member
Goes UP to 19.9%??

Jeeze! That's what mine starts at... I've almost got the damn thing paid off!

I HATE credit cards, and especially credit card companies. They rip you in every possible way!
 

HankHill

New Member
yes they do.

i finally got out of debt a few years ago. great feeling!

now i pay off my card every month.

the worst thing about the scumbags is the way the target college kids. the know most parents will pay off the debt so the kids credit will not get destroyed.
 
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