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Read what Mike wrote again. "He then sent the loan co another $5000." Did Both deposits from Mikes son go to the loan company, neither one to the seller? It's not that clear!
As for Stolch, "no reputable company" while I am not familar with this or other aircraft loan companies, there are a number that will charge and take advantage of a consumer like payday or other short term high interest loans.
I recall once in business class we took the newspaper ad from a "rent to own" tv company and calculated the real interest on tvs or furniture was 150%.
If the loan company is so fair and reputable as to never hold a buyers deposit in a case for sale not going through, why even have the "nonrefundable clause"? Or was that the seller not the loan co?
Last edited by Bill Greenwood; 10-11-2020 at 08:42 AM.
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