Go in the hole to get a new plane?

[ehunyadi 0]

The Cessna 185QF can carry a whopping 1360 lbs of cargo for the discount price (NEW!) of $255,652.00. It's a tail-dragger, but I can get used to that (again).

My question is this: I have $25,166 in stocks (actually made money on the stock market!) and $36,933 in cash with a net worth of $204,538. If I sell my C172 ($100k), sell my stocks ($25k) and make a little more cash, will AH allow me to go in the hole to get a new plane? I don't have the reputation for a loan or a lease (thank you, haggis) so if I'm going to do this, I have to do it as a purchase. Then, with the larger capacity of the C185F, I can make bigger hauls and hopefully more money to make up the negative amount (again, if it will let me). I don't want to sell my current plane yet in case I can't do what I am planning, so if someone here can answer, I will be grateful.

[allardjd 1,853]

...will AH allow me to go in the hole to get a new plane?

EJ,

AH will let you run up to $100K in the red. Once you get above 60% rep you can also get bank loans but I guess that's a ways down the road.

John

[ehunyadi 0]

EJ,

AH will let you run up to $100K in the red. Once you get above 60% rep you can also get bank loans but I guess that's a ways down the road.

John

Yeah, that's the big dilemma right now: sell a plane to get a new one and go about $100k in the hole, wait until I can lease a plane, or wait until I can get a loan. Therein lies the beauty of AH; you have real-life decisions to make, and your success as a pilot directly relates to the success of the company.

I think I will probably go in the hole to get the 185F. I think the bigger hauls will more than make up for it. Then again, I can lease one soon as my reputation is rising.

Decisions, decisions!!