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Airplane Financing For Resident Alien Canadian?  
User currently offlineMikethebike From United States of America, joined Apr 2005, 1 posts, RR: 0
Posted (9 years 6 months 2 days 11 hours ago) and read 1824 times:

Does anyone here know of a financial institution willing to underwrite an aircraft loan to a resident alien Canadian?

I live & work in the U.S. under a TN-1 visa, for the last 2.5 years. I can get a $300,000 mortgage, but I can't get a $30,000 aircraft loan. The first 4 companies I contacted (MBNA was the first, since I'm an AOPA member) refused me either because I'm not an American citizen or because I don't have a 5 yr credit history in the US (MBNA won't feel like calling all the way to Canada to get my excellent 20 year credit history there). At least the FAA just wants my passport & fingerprints...

I'd rather not take out a 15% personal loan from my bank.

Has anyone dealt with a company that could help me out?


Thanks!
Michael

2 replies: All unread, jump to last
 
User currently offlineBiggles From Canada, joined Dec 2004, 459 posts, RR: 1
Reply 1, posted (9 years 6 months 2 days 11 hours ago) and read 1809 times:

Tell 'em you're Mexican..

User currently offlineRogerThat From United States of America, joined Dec 2003, 566 posts, RR: 0
Reply 2, posted (9 years 6 months 2 days 10 hours ago) and read 1787 times:

You crack me up Biggles.

I know they don't do car loans for Mexican aliens. Never thought about an airplane loan.

But seriously MikeTheBike, get the mortgage for the house and buy the plane with cash. That way, it´s all tax deductible.


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