Warbird-friendly Financing

[Mud Eagle]

Anyone know which of the banks/finance organizations out there will finance a warbird (specifically, a T-6/SNJ)?

AOPA's loan through B of A can't be done for warbird aircraft, apparently.

 

[svcta]

I'll look for some adverts. in the magazines, but I can't think of any off the top of my head. If you're interested in T-6 and other warbirds I would suggest joining NATA (North American Trainers Assn) and EAA Warbirds of America. The latter may have some links to financing help.

 

[pilotyip]

No hull coverage

I know we are not allowed to insure our warbirds for hull damage, only liability. That may limit financing pledging the asset against the loan. But we only operate big ones B-17, B-25, C-47

 

[svcta]

We carry hull coverage on our stuff, but it is and has been much smaller than that. PT-19, L-19, T-6, T-28. That part has never been a problem for us.

I can see how a bank may hesitate to finance a warbird because of the huge range of values on a given type and strange issues with type certificates, and the general fact that warbird operating is sort of "off the beaten path", as are the airplanes.

talk to your own bank. They may have more options than you think. It may be that it requires more collateralization than a typical airplane loan. But then again, I don't know much about money or how to get it, only how to spend it.

 

[Mud Eagle]

Thanks for the info, guys. No specific banks/orgs, though? Checked with USAA today and they said "we don't do airplanes".

 

[svcta]

I'm out of town right now so I can't lay hands on magazines. Try EAA Warbirds. They would be my first stop for info on the matter.