Aircraft Financing

Written by Patricia Tunstall
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Before flying off into the wild blue yonder in the airplane of your dreams, there are many practical matters to be taken care of. One of the biggest is financing. Aircraft financing is a specialty, and you need a company that knows aircraft so their evaluators can match a loan to the relative value of a single engine prop Mooney, or a Piper Warrior with a high time airframe, or a multi-engine Cessna Skymaster.

Whether you have your eye on a piston engine, turboprop or jet aircraft, a finance company must have the expertise to assess the transaction. Applications are online from companies that have websites on the Internet, with questions regarding an applicant's personal and financial information and piloting credentials. In addition, aircraft financing companies need details about your selected airplane.

Details of Application Information

The type of ownership--individual, joint, corporate, or other--is requested, as is the intended use, as defined by Federal Aviation Administration (FAA) regulations. Pilot history includes licensing, ratings held, and total hours flying time. Income, assets, and liabilities must be listed in detail. Finally, the particulars of the aircraft and the transaction are requested.

Once you have reached this point, your hard work is nearly over. Learning all the fine points of selecting a good value in an airplane takes time and the help of experts. Finding a good value in an airplane that you want takes all of the above, plus good luck. When your dream finally comes true and you fly your family to your first weekend vacation far away, you'll know it was all worth it.

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