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vic1405

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About vic1405

  • Birthday 14/05/1954

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    Langwarrin Victoria

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  1. Been away from flying for approx 1.5yrs, didn't get to finish my Nav's
  2. Bank rates on personal loans are approx 13% I believe... On 25K = $3250 Interest over 1 year I thought that the lease arrangements were about 9% but you have to have the aircraft as security which might make it difficult to setup for the other shareholders if any that may have cash to put towards the purchase. They may not want the finance companies name on the ownership papers. So you would then have to purchase by yourself at whatever price paying the 9% say on 100K = $9000 per annum plus all running costs insurance etc etc...$$$$$$$$ Just food for thought i_dunno
  3. Hi Brentc, I wasn't suggesting it be used as a trainer, I was suggesting that it would be a way of having a great aircraft to fly in at 1/4 of the cost ie: sread between 4 shareholders all only having to raise 25K each and only paying 1/4 ofthe maintenance costs etc, which most banks would lend as a personal loan as long as their day job could cover the cost of the loan. It could be a J170 @79K or LSA @59K... I used the 230c only because that is what I would like .... Is this getting confusing??? Anyway like I said I am no expert and it was only my view on having an aircraft without having an unlimited amount of beginners flying it. You will be able to get to know all 3 others and share the available flying time with a roster or whatever it takes to keep all 4 smiling ....
  4. I'm not sure what your financial situation is or your credit history? Usually the commonwealth bank will give a personal loan. If you have the income to support it, I'm not sure if they would give much more than 20 - 30K without some type of collateral. My son has borrowed from them and my daughter as well for car financing. I not sure if you would get it or not but it costs nothing to ask the question. The Commonwealth Bank is always offering to do this and that whether it is a overseas holiday or whatever. Definately easier if you have a property for collateral .... Give them a call nothing ventured nothing gained If you were in my area (Langwarrin) it would only take four people to get together with the 25K each and we would have a nice shiny new 230c Jab ;) ;) with all the trimmings .. :) If you get it it wouldn't take to much to draw up an agreement legally binding to each of the four individuals to protect their interests .........
  5. Syndicate? - Maybe! Hi Ferret, I'm new to all this but I would have thought it better to buy a new - say 230 jab amongst 4 people and share all the costs. If new cost is all up 100K = 25K per person plus running costs per year - say 4K insurance plus all other costs associated divided by four .... You just cover your fuel and put an agreed figure in the tin to cover future replacement of the aircraft ? I'm not qualified in any way with these figures I'm quoting - But I would personnally want to know who is in the aircraft. If anyone has the actual figures it would be good to make a comparison. Any way thats my two cents worth.. :big_grin: :confused:
  6. Congrats Ches, at 54 I wondered if I would ever get there :big_grin:, my next nav will be the third! I may get there too!! Well done keep up the great effort .... Regards Vic ..........:thumb_up:
  7. Hi to all. just joined in and trying to find my way around. Slowly getting the hang of it! I joined up to hopefully find others with similar interests to myself. I am hoping to get together another 3 people interested in purchasing a new Jabiru 230 shares being split four ways as will be the costs. About myself 54 y.o. jack of all trades master of none! working for myself in excavation and landscaping. Flying out of Tooradin. I have a restricted PPL and a current RA Licence not yet endorsed for X-country, 2 navs done , 3 to go. If you are interested in forming something give me a call: 0408891909 or leave a post ..........
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