I used BOA for an aircraft loan and will never use them again. We agreed on a rate and term, then when they sent the paperwork the day before closing, the terms were different than we agreed to. When I called them on it they said, in effect, "take it or leave it".... Big learning curve there. When you get the terms, get them in writing, don't accept the loan officer and their manager both agreeing to the same terms as set in stone.... I have talked with others that have used them and they have run into the same problem. They don't do it to everyone and I don't know if any other bank does this, but this was my unfortunate experience...
Another suggestion is to get an aviation attorney when you purchase an airplane. I am not a big advocate of attorneys, but a good one will see all the potential legal pitfalls that you may have never thought of....
Forgot to add, this was a few years ago, maybe they have gotten better since then....
Last edited by aseweepay; 07-27-2010 at 11:38 AM.