aircraft financing

Aircraft Financing Tips

Financing and loans for airplanes, helicopters and other aircraft




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Many aircraft financing and loan companies allow you to apply online or over the phone.

Most aircraft lenders are willing to finance a variety of aircraft. Experimentals can be more difficult to finance, but there are companies that will do aircraft loans for these planes. Whether you wish to purchase or lease, now is the time to act while interest rates are still low.








Aircraft Financing Tips

In order to receive aircraft financing, most lenders will have similar requirements. For initial approval, you should be prepared to provide:
  • Good credit record/history. If you're not sure about your score/history (and even if you think you are), you should probably check to make sure that there are no mistakes. You can get a free credit report here
  • An airplane specification sheet
  • Two years of tax returns and W-2 forms (if you're self-employed, you will probably be required to also provide two years worth of company tax returns)

For final approval, you should be prepared to provide:
  • Title Search
  • Copies of log book(s)
  • Photos of the aircraft
  • Pre-purchase inspection
  • Insurance coverage
As with any type of financing, always get at least three quotes. It can be surprising how much rates can vary between lenders.

Aircraft Buying and Selling Tips

The legal risks of selling the aircraft you built
"The most frequent questions lawyers receive from members are about buying and selling of amateur-built aircraft. The most common is "How do I keep from getting sued?" The short answer is that you can't absolutely avoid the possibility of litigation. However, there are steps the homebuilder can take that reduce the risk of being sued in the first place, and, in the event that it fails, to reduce the chances the suit will succeed."
Read the rest of the article at eaa.org

Sales Tax and Aircraft Sales and Purchases
"Aircraft owners often are not tax experts, and yet the purchase of an aircraft is one of the largest investments any of us will ever make, and it is fraught with tax implications. Some of us just do a little research, try to comply, and hope for the best. But wouldn't it be nice to find an tax expert who is also an aircraft owner, and get the answers from an authoritative source?"
By Steve Williams - Read the rest of the article at sbw.org

Tips On Buying an Airplane
"Once you have chosen to cure that ownership itch, you have a major decision to make: what kind of aircraft will you buy. Setting aside the financial considerations, deciding what to buy must be the first step. Just because you have trained or built most of your flying hours in a particular model or brand doesn’t mean that particular aircraft will be the best for your purchase. Some questions to ask yourself:
-What do I want to do with the airplane?
-Will others fly with me? If so, how many? How far?
-Am I, or will I be, instrument rated?
-Is maintenance convenient and are replacement parts readily available?
-What kind of aircraft will best fit my pilot skills?."
By Charlie Spence - Read the rest of the article at iflyamerica.org