Originally Posted by
deftone
So just to update, I have managed to get home and check my mail but nothing yet, however I did get an email with all of the web links to apply for the financing etc.
Guess what, despite earlier information directly from LIFT, Republic is NOT guaranteeing the finance and I was rejected by the finance company. This is despite having a 6 figure salary and decent credit. So at this point I guess I will be looking elsewhere. I will have my commercial mins in a few weeks so will most likely go get my comm and multi and find a pt 91 or 135 gig.
I was surprised when they claimed they would co-sign. Financing for flight training has gotten pretty strict over the years. It used to be easier years ago, but as training got more and more expensive the pilot wages were still very low. So the rate of repayment was not good. Realistically if you want to become a pilot you need to either have the money or a good enough income to pay as you go. If they are expecting payments as a CFI that is a recipe for disaster. Anyone know what the interest rates for this deal are?