Brodhead Pietenpol Association

Original Posted By: "Jack Phillips"
Hello!I'm writing an article for Kitplanes magazine about financing forhomebuilts. Has anyone had any experience in financing your Pietenpol (or otherplane that you've built), and would you care to share that experience? Also,if you've had the experience of financing an already-completed homebuilt, I wouldlove to hear from you as well.By the way, Greg Cardinal's beautiful Air Camper kit is featured in the July issueof Kitplanes (Exteriors and Interiors - page 41-42) - there's a gorgeous pictureof the panel that he and Dale Johnson have handcrafted.Thanks so much! If you care to contact me off-list, my email address iscory(at)lightspeededit.com. My "list" email address is bootless(at)earthlink.net.Best,Cory EmbersonKHWD________________________________________________________________________________

Original Posted By: owner-pietenpol-list-server(at)matronics.com
Sounds like the problems I had with my Cessna 140. One of the few things Idon't like about the small Continentals is that the camshaft bearings arejust bored in the aluminum crankcase. When they wear, oil will spray out ofthose bearings rather than running at high pressure in the oil galleries.My guess is that this is a fairly high time engine, or it sat for a longtime and managed to build up some rust pits on the camshaft. Wish I had ananswer, short of an overhaul. My answer was to sell the 140 (on a coldday).I agree Mike, I'd try the oil pump gears first, because they are relativelycheap and easy to replace. My bet is that they will have to split the case.Jack -----Original Message-----

Original Posted By: Cory Emberson
CoryIf your building a Pietenpol, or similar, a lot of the parts and materials canbe purchased with a credit card and paid off at the end of the month or run abalance and pay your interest rate. This is convenient because when you arebuilding a plane, you usually only need a few parts at a time - don't need thewhole thing. and can be a very easy way to spread out purchases of a few hundredto thousands over several months.If you want to BUY one, I guess you could do so at a pretty good interest rate.4 to 8 % maybe. Most credit card companies send those annoying checks about5 times a month hoping you'll write one. I GUESS you could do THAT.... Prettygood interest rates, I think.I don't have any experience financing kits - I built mine over a period of severalyears and paid as I went.BChttp://bconoly.tripod.com/ ----- Original Message -----

Original Posted By: "Jack Phillips"
Jack.I think you're right, it sounds like a tired engine - not dead - justtuckerd out.I don't know... By the time you take the mags off, accessory case off, andall, you could put another days work into it and have the whole thing takenapart to inspect. If it were mine, I'd devote a weekend to pull it down anda couple weeks to inspect those cam bearing surfaces, jugs, as well asfollowers and lifters. I bought one of those run-out Continentals you findon the internet, and found a serious problem that would have shown up at amost inconvenient time. I took the extra time and fixed it all. I'm glad Idid. It cost me another few weeks (I'm slow) and about another K-bill tohave an IA lap all the valves , replace a few valves, and hone the cylindersand check em all out. But I did all the disassembly and re-assembly.The problem as we all know, is when you buy an experimental, you reallydon't know for sure what you're getting.Just my two cents..Bert----- Original Message -----

Original Posted By: "Christian Bobka"
Thanks, Bert. You bring up a very good point ... as the complexity of the projectis reduced, the more down-to-earth your financing options are.best, Cory Cory If your building a Pietenpol, or similar, a lot of the parts and materials canbe purchased with a credit card and paid off at the end of the month or runa balance and pay your interest rate. This is convenient because when you arebuilding a plane, you usually only need a few parts at a time - don't need thewhole thing. and can be a very easy way to spread out purchases of a few hundredto thousands over several months. If you want to BUY one, I guess you could do so at a pretty good interest rate.4 to 8 % maybe. Most credit card companies send those annoying checks about5 times a month hoping you'll write one. I GUESS you could do THAT.... Prettygood interest rates, I think. I don't have any experience financing kits - I built mine over a period of severalyears and paid as I went. BC http://bconoly.tripod.com/_____________ ... __________

Original Posted By: Bert Conoly
Just to add to Berts post. If you get those annoying checks from the credit cardcompanies, dont use them. If you call the card company they will have a muchcheaper rate for doing a direct deposit electronically into your account.Dick N. ----- Original Message -----

Original Posted By: Clif Dawson

Original Posted By: owner-pietenpol-list-server(at)matronics.com
CoryYep I financed my Piet she had 114hrs on her airframe, our localfinanancial institution finances homebuilt aircraft, they are merited asindividuals and are rather understanding. The finance is structured overa short period and they register a bond on the plane, so as to securethe plane from premature sale without settlement of the loan.Norman Stapelberg South AfricaZS-VJA-----Original Message-----

Original Posted By: owner-pietenpol-list-server(at)matronics.com
Hi Norman,Thanks for your note! How long did your bank write the loan for? Do you knowif they finance the kits while under construction as well? Is your plane anAir Camper? All these questions! :-)Could you tell me a little bit more about the bond placed on the plane? Ibelieve that here in the U.S., if someone finances a loan on a plane andthen sells it, the lien on the plane is not released until it's paid offfrom the proceeds of the sale. Is that the same procedure that you'retalking about?Do you mind if I identify your name and location in the article? Where in SAare you? My godmother grew up in Johannesburg (of course that was many yearsago!). She loved it so much she even named her dog Jojo. Thanks so much, and nice to meet you!Cory _____