mikethebike
Posts: 1
Joined: Thu Apr 28, 2005 8:14 am

Airplane Financing For Resident Alien Canadian?

Thu Apr 28, 2005 8:18 am

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
 
Biggles
Posts: 449
Joined: Mon Dec 27, 2004 5:19 am

RE: Airplane Financing For Resident Alien Canadian?

Thu Apr 28, 2005 8:32 am

Tell 'em you're Mexican..
 
RogerThat
Posts: 505
Joined: Wed Dec 17, 2003 12:13 pm

RE: Airplane Financing For Resident Alien Canadian?

Thu Apr 28, 2005 8:55 am

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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