just wondering re loans

Started by theguv316, July 22, 2011, 05:43:38 PM

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theguv316

July 22, 2011, 05:43:38 PM
If i went to the bank today for a secured car loan  the bank would give me say 10,000 for said car then
secure it against the loan after purchase 

but in this game i must buy a plane for 10 million then next time i can use it for security for a 2nd loan
surely my bank manager would be willing for me to say i want to buy this 737 for 10 million
will you fund it for me  then while buying the plane then i could link it to the secured loan

anyone any thought on my little ramble

LemonButt

#1
July 22, 2011, 06:14:48 PM
Quote from: theguv316 on July 22, 2011, 05:43:38 PM
If i went to the bank today for a secured car loan  the bank would give me say 10,000 for said car then
secure it against the loan after purchase 

but in this game i must buy a plane for 10 million then next time i can use it for security for a 2nd loan
surely my bank manager would be willing for me to say i want to buy this 737 for 10 million
will you fund it for me  then while buying the plane then i could link it to the secured loan

anyone any thought on my little ramble


Do a forum search and you'll find plenty of commentary.  The bottom line is you need assets to borrow against.  If you're an average joe with an averag net worth, a bank isn't going to let you buy a $10 million plane :)

swiftus27

#2
July 22, 2011, 07:14:05 PM
Lemon, he is talking about getting secured financing on an upcoming plane rather than having to use a plane already owned as security.

LemonButt

#4
July 22, 2011, 07:40:02 PM
Quote from: swiftus27 on July 22, 2011, 07:14:05 PM
Lemon, he is talking about getting secured financing on an upcoming plane rather than having to use a plane already owned as security.

Yes...I know.  I couldn't get financing on a $10 million mansion, even though it's a secured loan.  Same goes with businesses with little to no assets (or negative net worth).

swiftus27

#5
July 22, 2011, 07:51:07 PM
I am a business banker....  yes, I understand what you are saying.  But if any bank saw the ROI that these airlines were getting, they'd get into the business themselves.   

The economy in this sim is nowhere near comparable to real life.
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