February 2008 Issue
Aircraft Loan Choices: Specialty Lenders
Thanks to high liquidity, aircraft lenders have been untouched by the sub-prime mortage crisis. They also offer lower interest rates than commercial banks.
Lately, good news in the world of general aviation has been scarce, but here’s some: The aviation financial markets are so liquid as to have been left intact by the subprime lending crisis that has tanked the housing industry. Further, the aircraft loan business remains competitive enough to offer various loan products at reasonable interest rates. Nonetheless, the savvy buyer can make the loan process more painless by doing some prep work before picking up the phone or surfing the Web for money sources. As with a house purchase, both the buyer and the object of his financial affections must pass certain tests—not the least of which is a competent pre-buy on the airplane, having your financial house in order with the documents to prove it and knowing about any credit surprises before the bank finds them.
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