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Posted: 2/27/2012 7:29:33 PM EDT
I got an invitation to attend a webinar on purchasing aircraft, sponsered by AOPA. I'm not really in the market for a plane, but if I bought one, it would probably be a Cherokee Six. Would it be prudent to lease it back to my flying club? I've heard arguements for and against. What has been the experience here?

Mike F
Link Posted: 2/27/2012 8:21:29 PM EDT
As one airplane broker put it to me, "why don't you just go ahead and pay me $20,000 and let me kick you in the balls and get it over with quickly?"
Link Posted: 2/27/2012 8:25:11 PM EDT
If they made money, the places begging you to lease back would have done it themselves. Its a scam to put it lightly.
Link Posted: 2/27/2012 9:27:34 PM EDT
[Last Edit: 2/27/2012 9:29:52 PM EDT by AeroE]
Link Posted: 2/28/2012 4:33:05 AM EDT
Originally Posted By regalrocket:
If they made money, the places begging you to lease back would have done it themselves. Its a scam to put it lightly.


Run far far away from anyone talking to you about a leaseback! I have never seen one of these turn out well in many years.

Link Posted: 2/28/2012 6:37:10 AM EDT
Leasebacks make money for the NON-owner of the plane. All you'll get is the maintenance costs, the mortgage payment (you WON'T make enough to cover it), the loss of use of YOUR plane whenever you want it (you'll have to RENT it, albeit at a lower cost- maybe).

Should I continue or is that enough to make you say 'NO EFFING WAY!"?
Link Posted: 2/28/2012 7:28:41 AM EDT
Originally Posted By NY32:
Originally Posted By regalrocket:
If they made money, the places begging you to lease back would have done it themselves. Its a scam to put it lightly.


Run far far away from anyone talking to you about a leaseback! I have never seen one of these turn out well in many years.


Listen to this advice. It's the truth.
Link Posted: 2/28/2012 7:36:04 AM EDT
Whenever I think I want a cool toy, I always ponder to see if it fits into the F's.

If it: flys, floats, fucks, or goes Fast........it is going to cost you more $ than it is worth.
Link Posted: 2/28/2012 9:11:17 AM EDT
Originally Posted By fla556guy:
Whenever I think I want a cool toy, I always ponder to see if it fits into the F's.

If it: flys, floats, fucks, or goes Fast........it is going to cost you more $ than it is worth.


...and generally better to rent it!

Link Posted: 2/28/2012 5:40:01 PM EDT
Long answer: Nope.
Link Posted: 3/1/2012 4:12:26 PM EDT
Your insurance will be a LOT higher if it's being used for instruction.
Link Posted: 3/1/2012 8:42:44 PM EDT
Take the key you were going to give to them and A) lock the door, and B) throw it in the trash. Use your key to fly your airplane whenever you want to.

Let those lease back guys buy their own airplane instead of you paying them to borrow yours.
Link Posted: 3/2/2012 8:22:02 AM EDT
It is NOT the exception to the "If it sounds too good to be true..." rule.
Link Posted: 3/2/2012 8:32:02 AM EDT
So just so I understand, you guys are saying this is a bad idea?

Hehehehe. Thanks for all of the replies.

Mike

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