personal aircraft financing

Personal Aircraft Financing - Buying a new airplane can be an exciting endeavor, however, in order to purchase the airplane of our dreams, we may need to explore financing options. We've created this guide specifically to help you finance smaller single-engine or multi-engine aircraft. Whether you're a new pilot or a seasoned pilot, this guide will share the best options for getting into aviation finance.

One of the most universal questions is what are your budget parameters. This can be a big determining factor when choosing the category and class of your aircraft. It is important to understand the many financing opportunities or leasing arrangements available to us as pilots.

Personal Aircraft Financing

Partnerships are also a factor in choosing a budget parameter. Many pilots decide to partner their aircraft with a friend or business partner. If you decide to go 50/50 on a shared plane, it can increase the category and class of the plane you choose.

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Financing airplanes is not too different from financing any other type of vehicle. You have a principal amount, a loan term, an interest rate, all of which depend on the first payment.

Airline financiers generally want 15-20% discount and lend at 5-6%! Keep this in mind when looking for the best option.

The standard length of an aviation term is different than what you might be used to. In general, you can expect to see durations of up to 15 to 20 years. Now, this doesn't mean you can't get a term for a shorter period, but these lengths are standard for smaller aircraft.

However, keep in mind that the longer the term, the higher the interest rate. Thus, you can benefit from either an early payment or a shorter term. Keep this in mind when discussing your chosen aviation lender.

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Finding a lender can be one of the most important parts of the airplane buying process. Making sure you choose the right lender can make a world of difference in getting the right deal. One of the key elements is to ensure that your lender is adequate and up-to-date with general aviation information. The worst is contacting a lender only to find out they have no experience or expertise in the aviation industry.

Lucky for you, we've compiled a list of some of the best aviation lenders - These lenders meet the requirements we've laid out above.

Streamlining aircraft financing offers truly attractive rates and options. LightStream offers a unique lending solution that allows customers with good credit to borrow money for purchases that have previously required collateral or fall into categories where there are few or no lending options.

Even though these options come directly from light currents, this gives you a better foundation when looking at the entire industry.

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A veteran owned business. An industry leader in aircraft financing since 1998. Finance your purchases, upgrades and more. Low rate. Free quote. It also offers Insurance: Liability coverage, Hull protection, Medical coverage.

PNC Aviation Finance has a comprehensive menu of aircraft lending capabilities and solutions, including loans, leasing and dealer plans. PNC Aircraft Financing offers amortization schedules of up to 20 years designed to maximize your cash flow.

Banterra's competitive aircraft financing program offers many aviation industry exclusives, including customized discount options for qualified applicants. Banterra is also one of the leading airline financiers in the industry with years of experience.

NAFCO is a subsidiary of Pilot Bank, a Tampa Bay community bank that has been operating successfully since 1987. When you finance your aircraft with NAFCO, you have access to personal and business banking, treasury management, health savings accounts and services mortgage. NAFCO services all types of aviation financing, from single-engine piston to multi-engine turbo props.

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Almost every airline financier we've featured on this list also offers some form of airline insurance. There are many different types of aviation insurance that you should know about. Each of these options add to the total cost of your flight. Check out our guide to airline insurance here.

You don't have to buy a plane at full price when you have a financial partner sharing a stake! Partner airlines are often a good way to get the plane of your dreams. It can often be too expensive to buy an airplane, however, imagine if you could buy 1/3 or 1/4 of the price.

Airline partnerships are usually an arrangement between 2-5 people for the price of one plane. These smaller arrangements are more limited than a flying club, but offer more exclusive rights to an aircraft. These relationships are usually contractual, meaning you have a legal interest in all of the airline's operational and financial costs. However, it comes with the benefits of open schedules, low prices, and the opportunity to access top-tier airlines.

Aircraft financing terms typically extend around 15-20 years. Keep in mind, however, that a longer term usually means a higher interest rate. You can benefit from early payment or a shorter duration.

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To buy a small plane, you will most likely need a credit score above 750 to get a competitive rate. This is because an airplane is a luxury purchase which makes lenders more discretionary when choosing clients.

Yes, you can get funding for experimental aircraft, and there are many programs to do so. In addition, lenders offer Kit and Top up financing so you can do it at any stage of your build. The condition is that there must be at least 25 of the same make and model registered with the FAA.

Choosing the right aircraft can be a very subjective process. There is no right answer for the perfect airplane, however we can guide you. See our article on Questions to ask when buying an airplane.

Your pride and joy At the end of the day, your airplane really is your pride and joy and should be treated as such.

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Aircraft financing is undoubtedly one of the most important parts of purchasing an aircraft. Make sure you choose the right lender and the right terms can help you in the execution time. By making sure your financier has general aviation experience, understands FAA regulations and has the proper approvals, you can ensure you're on the right track when choosing a lender.

Be sure to do your due diligence when shopping, compare options and get multiple rates to ensure you get the best option.

In general, make sure you choose the right plane. Check out our Airplane Buying Guide here to make sure you understand the complete buying process.

Check out our blog post on 5 Easy and Inexpensive Ways to Start Flight School where we also discuss how a personal flight instructor contract can work out to be cheaper in your own aircraft.

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Are you interested in buying an airplane? Check out some of our listings below as you can see that the prices are on par compared to buying a new car.

Mike Ojo of the popular aviation YouTube channel 'MojoGrip' along with a team of skilled pilots originally launched LookUpAviation earlier this year. LookUpAviation's goal is to create modern solutions with excellent customer service for a rather outdated industry.

Buying a new airplane can be an exciting endeavor. We've created this guide specifically to help you finance smaller single-engine or multi-engine aircraft.

Appareo's Stratus Insight and Boeing's ForeFlight. The two biggest names in aviation technology now each offer amazing EFB options. Either you are a new pilot or an experienced pilot who has been flying both for a long time.

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We combine extensive experience in the aviation industry with private banking services to help you identify, purchase and finance a private jet.

An executive jet can give you the freedom to travel at your own discretion, while reducing waiting time at the airport and enabling more efficient travel to distant destinations.

Citi Private Bank offers customized financing strategies, whether you're looking to finance a private jet, upgrade your jet, or free up your existing capital for other purposes.

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As experienced airline lenders, we work with you to assess your travel needs, advise you on airline options and simplify the purchasing process.

Based on your balance sheet, cash flow and individual tax requirements, we can tailor the airline loan to your requirements.

We don't believe in 'one size fits all' when it comes to executive loans for our clients. We have flexible credit guidelines to meet the unique needs of sophisticated buyers.

We offer a wide range of aircraft loan terms and structures, including a variety of maturities at competitive rates.

Aircraft Financing Direct = Plane / Jet Loans

We can put you in touch with aircraft brokers, procurement consultants, aviation attorneys specializing in aircraft financing, as well as management and/or maintenance companies.

We don't believe in "one size fits all" when it comes to

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