By profession I am a banker, loan officer and investment broker with the Wells Fargo bank. Recently I became an authorized representative for Ace Trikes USA. My desire to become a representative was for two reasons, one I believe that Ace Trikes offers a great aircraft that is about 6k or more cheaper than a comparable trike made here. Secondly at 13,000 dollar for the complete trike, it is a very easy trike to finance without taking much risk.
So what are the options? The best option for cheaper trikes in my opinion is either an Unsecured Loan or Line of credit. Loan and lines are very similar when it comes to the interest rate compounding but there are few differences as follows.
Unsecured Loan: No risk to you since no collateral is required, fixed interest rate and a five year (60 month) max term. No fee. No prepayment penalty. Decision in two hours
Unsecured Line of Credit: No risk to you since no collateral is required, variable interest rate (due to our crappy economy the interest rates haven’t really changed on the line of credits in the last three years). A line of credit is good for 10 years. There is a 25 dollar annual fee. Decision in two hours. Your minimum payment is 1 percent of what your borrowed + interest. There is NO prepayment penalty. So, for example, Ace trike at 13,000 dollars. Your minimum payment will be 130 dollars plus interest. In my opinion this is one of the best routes to go because for a small monthly payment you could own a second trike for soaring.
Portfolio loan or line of credit: If, you wanted to further reduce the interest rate, you could go this route. In this scenario you put money in the cd and borrow against your own money. Great option for someone who has some money saved that they are not planning on using any time soon but would rather keep their savings. There is NO prepayment penalty.
Home equity loan or line: This is NOT the ideal option for inexpensive trikes but might be a good option for E-LSA or S-LSA trikes. Money is secured against your house. Interest rate is the lowest. I booked a Home Equity line few weeks ago and the interest rate came at 3.87, which I think was great considering that the US Prime rate is 3.25 (this is the rate below which the bank won’t lend money). Home equities can take up to 4 weeks to book and have an annual fee of 75 dollars, which is waived the first year. If you pay off the home equity line before three years there is a penalty.
My prediction is that in the coming quarters the rates will go higher because the feds haven’t raised the rates in the longest while and what goes down must go up.
I hope this helps you in understanding how financing works and if you need my help in financing the Ace trike or any other trike, you are more than welcome to get in touch with me at email@example.com or you can send me an email at my work address Rizwan.Bukhari@wellsfargo.com or call me 208-713-1844 cell
P.S. The loan or line approval depends on a lot of things including but not limited to your credit score, debt to income ratio. etc. Also different banks have different rules and fees, this article is just to give you a basic idea, you should consult with your bank or contact me if you need my help. Rizzy
I just waned to let all of my friends know that I am Idaho dealer for a new trike Aerotryk ss, which is a 103 trike offered by Ace Trikes USA. This trike has many features that make it very special. First is the price. The complete trike is 12,999 (more info on my website www.skyboundsports.com ).
STANDARD SPECIFICATIONS & FEATURES Picture STANDARD features on all of our ready- to-fly AEROTRYK ss aircraft: -aircraft-grade, anodized aluminum frame and hardware - Rugged wire-braced structural tube landing gear for increased off-field capability and durability - Impressive pilot/gear weight capacity of 255LBS, even with a full fuel tank! - In-Flight Trimmer system (FAR 103 Weight shift trike EXCLUSIVE) - Large tires and aluminum alloy wheels, no plastic junk and wheel barrow tires! - Dual throttle setup… One foot operated and one hand operated “cruise control” - 4 point seat belt with aero style release buckle - One of the most comfortable seats in its' class - Large integrated Side bags for carrying gear and supplies (Approx. 22 liters of storage) - ULTRA PROP brand composite 3 blade propeller or optional GSC 2 blade wood prop - The 34HP Simonini MINI 3 engine - High quality front brakes - 5 Gallon fuel tank, with external filler neck. Perfect size for XC flying - ELECTRIC START - Instruments: CHT, EGT, Tach/hour meter, HALL airspeed indicator - High performance, yet docile wing with a wide speed range for slow flying and faster XC flying - High quality, fully machined hang block with oversized fasteners and safety strap - Folding mast and main frame tube for easy rigging, disassembly, and portability - Adjustable length front fork mount for different size pilots (4" adjustability) - Simple, yet sophisticated modern design and colors Where else can you get that many high quality parts, standard features, and performance for $12,999?* … Oh and did we mention immediate availability?** No, it’s not a dream… it’s what’s new in personal aviation. CONFIGURATION AND SHIPPING OPTIONS: PLEASE NOTE... ALL LISTED PRICES ARE IN U.S. DOLLARS AND DO NOT INCLUDE SHIPPING OR TAXES (If applicable) - STANDARD RTF AEROTRYK ss ... $12,999.00 (Nationwide, NO-HAGGLE price) - TRIKE AND WING ONLY, NO ENGINE ... $9,299.00 -
For more information visit my web site www.skyboundsports.com
I have a customer interested in buying my 19 meter wing (the deal is not final yet) but we have figured out shipping options. Now the bigger problem is packing the wing. I don't want to do the crate. And I was thinking of using a PVC sewer pipe but when I search online they are not cheap either. They can cost anywhere between 30-70 dollars a foot. Buyer is paying for shipping material cost but I want to keep the buyers cost as less as possible. Any ideas where I can get these pipes for cheap or any other ideas what to use to pack the wing?
P.S. If anyone is driving from Idaho to Miami and won't mind carrying this wing, please let me know. I will pay you a fair price for it.
Is there anyone on trike pilot who has flown the new Mako 15 wing by Gibbo Gear. So far I have heard only things about it's handling and performance. But I would like to talk to someone who has experienced this wing for their first hand account.
I have saved up enough to buy a new wing, now I am just trying to do some in depth research.
So since some of you said that this will not happen because of this and that, I went looking and found that this is already happening on a limited test basis but there are already some signs of machine system problems that will have to be worked out. For example, look at the picture below from a test delivery in the UK by Amazon.
This is my dilemma, I really like Gibbo wings, in pictures they look like they are built like a tank. But every time I muster the courage up to think about buying one (even though Gibbo has a great loyal following), I get a lot of opinions from the people that swear by Northwing (but everyone is entitled to their opinions). I am hoping to make a rational decision here not based on just the opinions. I think Gibbo wings are priced very fairly too (almost 3k less than a Northwing).
So I have two questions for Gibbo wing flyers. I have an HKS 700e motor with a 19 meter strutted Northwing. The other day I was flying near Payette, Idaho and the air was very turbulent so it required some effort on my part to fly.
My question is this what Gibbo wing is best matched to a HKS 700e motor which many say is a little bit stronger than a 503. For the most part I fly by myself, but my dad is moving to Idaho next year and I will be flying him quite frequently and wanted a Wing that can accommodate two 200 pound people. I think my trike (Northwing Navajo) empty weight with the HKS motor is about 540 pounds. Put two 200 pound passengers and now we are looking at 940 pounds. With all that weight and an HKS motor. What Gibbo wing is the best match?
I am not a cross country pilot, I am a patch flyer. But I am looking for a wing that I can fly by myself in strong turbulence (and it doesn't require as much effort as a 19 meter wing) in turbulent air or thermals but which also has the ability of hauling two passengers occasionally with an HKS 700e motor and not overwork the engine (with one or two passengers).
I still love my 19 meter Northwing, it also is a blast to fly in calm conditions. At one time I thought of getting a Gibbo 17 meter RST wing (instead of the more popular 15 meter RST) to give me better ability of hauling two people (a pilot and a passenger). But then I thought, what if the difference is not significant between a 17 meter Gibbo and a 19 meter Northwing? One of my all time favorite wings was an Aeros Stranger (maybe a Stream) (I believe it is 16 meter double surface) I loved the way it handled.
What are you suggestions? Is there anyone by Boise, Idaho or nearby areas that flies Gibbo wings, I sure would like to test fly the wing to get a better feel for it. Please help me out make a good decision here.
Gibbo Gear is coming out with a new wing, a 15 meter double surface, check out their website http://www.gibbogear.com/
In the desciption it says "100% double surface increases top end speed and lowers the stall speed....Not sewing the under surface to the top surface allows the two surfaces to shift independently of each other during flight improving handling. Another cool feature of the detached under surface is you can pre-flight your entire airframe!"
What is difference between a regular double surface wing (which as I understand typically are 80 percent double surface) vs this wing, which is 100 percent double surface.
The other question is a 100 percent double surface wing would be much more cleaner and faster than a 80% double surface wing, how does that help lower the stall speed? If anything I would think that it would increase Stall speed.
Am I right in my thinking?