Refinancing
I recently purchased an aircraft at a Government auction. It's a 1969 Piper Navajo. I purchased the aircraft for $27,000. Because I had to pay in cash within 2 days of the auction, I needed a way to get cash quickly. I went to my local bank and was able to get a personal signature loan for $15,000 to come up with the rest of the cash needed to buy the aircraft immediately. The bank loaned me the money with a 60 day term. I intend to resell the plane eventually but I need to put some work in it first. My original intention was to get a home equity loan to repay the personal signature loan. However, I'd rather not do that if I don't have to. My question: Is it possible for me to refinance this aircraft with an aircraft lender even though I don't currently have a "aircraft Loan"?Drew,
Please contact Mark Freeman at 888-656-9400 to dicsuss in mor detail.
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P.O. Box 1060
Old Lyme, CT 06371
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