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
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 :)
Lemon, he is talking about getting secured financing on an upcoming plane rather than having to use a plane already owned as security.
Already discussed.
https://www.airwaysim.com/forum/index.php/topic,31571.0.html (https://www.airwaysim.com/forum/index.php/topic,31571.0.html)
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).
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.