976 price

Wed Apr 15 12:33:56 EDT 2009

I understand that EE is the bank on the remaining 17k, which I don't mind.  It's the amount of initial up front costs that I'm not in favor of.  When I mentioned someone would have to be on the hook, it was for the 33k portion.  I'd still like to be involved if the we can figure how to lower the up front cost. 

Mike 
----- Original Message ----- 
From: "Bob Irving" <rhirving at verizon.net> 
To: "Eagle East Flying Club Core Team" <eefc-core at workingcode.com> 
Sent: Wednesday, April 15, 2009 12:09:58 PM GMT -05:00 US/Canada Eastern 
Subject: RE: 976 price 

Mike – this proposal assumes Eagle East is the bank so there is no personal liability. Im going to record your vote as “no” on 976. 

Bob 

From: eefc-core-bounces at workingcode.com [mailto:eefc-core-bounces at workingcode.com] On Behalf Of mike.lysik at comcast.net 
Sent: Wednesday, April 15, 2009 12:01 PM 
To: Eagle East Flying Club Core Team 
Subject: Re: 976 price 

So we need to come up with $33k, then pay off an additional 17k.  If this is going to work, as we already know, someone will have to step up and be "on the hook" for the $33k loan.  If that's the case, then there are other planes out there that are nicer for less $.  It doesn't seem to be as easy/nice a deal as was initially presented to us. 

Just saw Steve's email regarding the up front costs.  If I'm going to join a flying club, I'd rather not have such a large up front cost.  I just can't justify it.  As one of us pointed out during our first meeting, one can join an existing club at LWM for very little out of pocket.  I think it was $45 per month and $75-$99 per hour depending on which plane is used.  That club may be more restrictive than we want, but the price is more in line with what I was looking for.   

Mike 

----- Original Message ----- 
From: "Bob Irving" <rhirving at verizon.net> 
To: "Eagle East Flying Club Core Team" <eefc-core at workingcode.com> 
Sent: Wednesday, April 15, 2009 10:15:44 AM GMT -05:00 US/Canada Eastern 
Subject: 976 price 

Spoke to Tim this morning. The 50k price tag on 976 would require a down payment from the club sufficient to pay off the note (about 18,000) plus the cost of engine from Penn Yan (about 15,000) leaving a balance of 17,000 that Eagle East will finance.  No details on rate and/or term. 

So far only two of you have commented.  Please provide some input – we need to arrive at a consensus on this.  Thanks. 

Bob 

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