How much aircraft can I afford? Finding the best aircraft for your budget with US Aircraft Finance.

How Much Aircraft Can I Afford? Finding the Best Aircraft for Your Budget

The intrinsic appeal of aviation is one felt throughout almost all people, but for most, the thought of owning an aircraft seems fiscally impossible. While this barrier has kept many people grounded, fortunately there are opportunities to circumvent those financial obstacles and connect you with the right aircraft for your budget and needs.

Trying to find the right plane for the right price can be difficult, regardless of your budgetary restraints. Whether you’re learning to fly, an experienced pilot, or are a business owner considering purchasing an aircraft for your company, owning an aircraft is not as far off a goal as it may seem.

What Type of Aircraft Do I Need?

Deciding what type of aircraft would best suit your intended use is the first step toward becoming an aviator.

Depending on your budget, there are many different types of airplanes that can be purchased with varying features and abilities. The length of your flight and the amount of cargo you plan to carry are two of the major factors that will guide you toward the perfect aircraft.

Aircraft for Personal Use

Many beginner pilots tend to go for smaller planes that are tried and true among pilots for generations. For example, the Cessna 172 comes from a long pedigree of excellent engineering and is widely adored by the aviation community.

Most single-engine aircraft carry four passengers and are typically capable of holding a bit of cargo as well. Pilots like these aircraft for their simplicity, and because they’re a great platform to learn to fly on.

Multi-engine aircraft are capable of even larger loads and more passengers. Aviators should always do thorough research prior to the purchase of any plane, but the larger the plane, the more rigorous analysis is necessary.

Aircraft for Business Use

Aside from personal use, businesses and business owners can greatly benefit from owning an aircraft.

The majority of business aircraft are operated by small companies—those with fewer than 1,000 employees. Operating a business aircraft can save time and can improve your bottom line. In many cases, an aircraft purchase can even be written off in taxes if the aircraft in question is used for business purposes.

The benefits of business aviation translate into tangible, quantifiable benefits for companies, shareholders, and the national economy. Studies have shown that companies with business aircraft outperform their counterparts without access to aircraft in the areas of annual earnings growth, stock and dividend growth, total share price, market capitalization and other financial points. Business aircraft ownership is a sign of a well-managed global company.

Business aircraft can also reach ten times the number of U.S. airports than traditional airlines do, with the ability to travel to over 5,000 public-use facilities versus the 70 major airports that large airlines must frequent. (Source: NBAA Business Aviation Fact Book)

The Cirrus SR22, Beechcraft Baron, and Pilatus PC-12 are all suitable options for business airplanes. They can seat between four and nine passengers, depending on the aircraft, and are a great option for business travel.

How Much Aircraft Can I Afford?

Although there is a monetary barrier of entry for aviation, that bar is much lower and more attainable than most would think.

Single-engine aircraft have a price range for all budgets and are far more economical to maintain than multi-engine airplanes. Buyers should be aware however, that purchasing such a plane on the lower end of the price scale almost certainly means further investment improving the technology inside the plane.

Multi-engine aircraft have additional training and certification requirements compared to single-engine aircraft, but still have a wide price range for all budgets. Obviously, more engines would equate to more fuel and a greater cost for operation. These planes are generally owned by more experienced pilots.

Aircraft for business purposes tend to be larger and can come with a higher price tag depending on the model, size, and a number of other factors. These aircraft are the type enjoyed by business owners for travel purposes and can often be written off in taxes when used for business purposes.

One useful resource we offer makes it easy to calculate what your budget should be when searching for an aircraft. With our airplane loan calculator, just plug in some basic financial information, and we can help start you on your journey to airplane ownership: How Much Aircraft Can I Afford?

Aircraft Purchase Considerations

Regardless of the size of your aircraft, they all share some of the same costs you would expect for any aircraft. Any size aircraft will need to have regular maintenance done, inspections must be kept up to date to ensure safety, and aircraft insurance coverage will be required. Upgrades can be optional but are a fun part of personalizing your aircraft.

Finding an institution that will loan anything under $30,000 to purchase an airplane is a regular challenge for beginner aviators.

So, how can you afford an aircraft with your current budget?

Funding Your Aircraft Purchase

As a direct lender, we can help match you with opportunities for loans that make such an investment possible. We can help define your budget, and project what the cost of ownership will be on top of the sticker price. Our experienced team can simplify & structure your investment into manageable payments that can be custom-fit to your situation and your planned use for the aircraft.

We also offer insurance for your aircraft so you can ensure that both you and your aircraft are covered no matter what weather you’re flying into.

The dream of flight is within reach – let us help you touch the sky.

Contact Us

To learn more about financing your aircraft purchase, feel free to contact us. Our team is ready and waiting to assist you and answer any questions you have about aircraft financing, insurance, refinancing and more.

If you’re looking for a speedy process, we can help. Apply online and get your pre-approval quicker than you would anywhere else!

Phone: (802) 434-4100

Toll-Free (888) 654-USAF (8723)

Fax: (802) 434-3082

E-mail: usaf@usaircraftfinance.com

New Aviation Technology

The Latest and Greatest in Aviation Technology

With the new year comes new aviation products and innovative technology. Whether you’re in need of an upgrade, looking to treat yourself in the new year, or just want to know what’s up-and-coming in the aircraft industry, there are many new and exciting aviation advancements to keep an eye on.

Below are five of the leading aviation technologies to watch out for in the new year.

5 Aviation Advances to Look for in 2020

ADS-B

The with start of the new decade came new aircraft compliance requirements. Under the new Next Generation Air Traffic Control System, or NextGen, all aircraft must support Automatic Dependent Surveillance-Broadcast (ADS-B).

This new system will make flying safer and more efficient by providing key weather, traffic, and other flight-information services. Aircraft were meant to be upgraded by January 1, 2020, but there’s still time! Learn more about ADS-B to make sure you are properly equipped so you can continue to fly freely.

Electric Planes

Just like with the rise of electric cars, we are now seeing more advances in electric flight. These new advancements could help pilots save on fuel, reduce emissions, and help the environment.

Some of the more popular electric aircraft include the Kitty Hawk models, the Lilium Jet, and the ACCEL. These fantastic vehicles are making air travel faster, quieter, and safer for the environment. They use a variety of methods to power the vehicle, like lithium batteries in the Kitty Hawk Flyer and Heaviside, or a combination of solar panels and batteries.

Though electronic flight has not been commercially widespread or publicly accessible, the developers of these aircraft are hopeful for the future of flight. These advances in electric aircraft technology show promise that flying will soon become more accessible to provide the joy and convenience of flying to everyone, while also finding new ways to create safer and more environmentally friendly travel.

Self-Flying Aircraft

Although modern planes could be considered self-driving as they are able to autonomously complete a flight route, these planes cannot independently make the decision to change the route. With true self-flying, these aircraft (ideally) have no need for a pilot. In terms of entirely autonomous flight, innovators like Boeing and AirBus have been developing safe, fully-autonomous aircraft and have seen huge success in the past year.

For smaller aircraft, researchers in Germany at the Technical University of Munich are working on full-automated landing technology without the need for vision-assisted navigation. This landing system would allow pilots in PAV’s to easily and safely land without the need of a pilot or ground-based systems.

Garmin’s Autonomí

Garmin’s new autoland system is a first in general aviation. Combined with Emergency Descent Mode (EDM) and Electronic Stability and Protection (ESP), these three tools make up the new Autonomí system — essentially a digital parachute for the pilot and passengers.

If a pilot were to become incapacitated or disoriented, this system has the ability to take over automatically or when activated. It can then stabilize the plane and even land it if necessary. The system will work anywhere in the world except a few places in China, Russia, and Central Africa where there isn’t enough data available for the system to make landing decisions.

Upgrades Within Your Reach

While some upgrades are just a dream, there are opportunities to update your own aircraft without putting it out of commission for months on end. New paint and updated interior touches can make your aircraft look and feel brand new and keep you flying high.

If you’re looking for something a little more exciting, an engine overhaul can give your plane some extra kick and keep it running smoothly while staying up-to-date with the latest mechanical features.

If you’re looking for an even bigger upgrade, there are new planes coming out this year, such as the Cessna Denali — a single engine turboprop aircraft that made its first appearance at EAA AirVenture Oshkosh 2015. With a completely new design that is not derived from any existing aircraft, you can stand out in the sky with a new aircraft that includes the most modern features available. Another anticipated new aircraft release is the sleek Epic E1000, a single-engine, six-seat, turboprop light aircraft that aims to be the fastest single-engine civil aircraft at its time of introduction.

Don’t Get Grounded – Get an Upgrade!

If you are one of the many pilots in need of an upgrade to meet the new NextGen requirements, or if you are looking to implement something new for your aircraft or even desire an entirely new plane, we can help.

We offer aircraft loans and tailor our financing and refinancing options with fixed rates and terms that fit all of your flynancing needs. We lend up to 90% on many single-engine aircraft of our aircraft valuation or purchase price (whichever is less) so you can find the perfect fit for your budget.

We also offer coverage for a variety of aviation needs through our US Aircraft Insurance subsidiary. We work with the leading aviation insurance companies to find you the right coverage at a competitive rate to ensure you’re protected no matter what happens during flight.

Contact us today to speak to one of our representatives or apply online for pre-approval – speed guaranteed!

Receive the Gift of Flight this Holiday Season

The end of the year is an opportune time for business owners to take advantage of tax deductions. Any funds a business uses to invest in equipment or machinery, like an aircraft, can be written off as a tax deduction. The deduction can be used to deduct the cost of the machinery, dollar for dollar, in one year, and even extends to used equipment.

Get yourself the gift of flight… and tax deductions!

According to the New York Times, business owners can “deduct 100 percent of a plane’s purchase price and maintenance expenses if the plane is used for nonrecreational purposes.” After that initial year, the owner must use the plane at least 50 percent of the time for business to keep the deduction.

Operating a business aircraft can save time and can improve your bottom line. These are just a few of the unbeatable benefits to owning your own aircraft:

  1. Travel to business meetings in your own aircraft and on your own schedule.
  • Resorting to commercial flights means you must stick to the itinerary of flights that are available, and often mean flying in discomfort surrounded by people. Using your own plane means you can create your own schedule and fly in a comfortable aircraft without the rest of the crowd.
  1. Avoid airport lines and charges.
  • Airport lines are lengthy, and commercial flights are expensive — without even adding the cost of checked baggage, food, and other necessary expenses. Avoid the waiting and save your hard-earned dollars by jumping on your own flight.
  1. Attend meetings in locations where commercial flights can’t go.
  • Some runways are too short for commercial aircraft, but with your own business plane you can land in the hard-to-reach locations where business might take you.
  1. Improve meetings with face-to-face interaction, rather than communicating via email.
  • Meeting with clients or business partners in person adds a special touch to your business. It shows that you care and are willing to take the time to personally visit with them rather than take the easy road and communicate strictly online.
  1. Make your dreams of flight come true — at no cost to you!
  • Owning an aircraft is a dream for many people, and luckily it can be made into a reality by purchasing a plane for your business.

 

Flight is the gift that keeps on giving

Even if you already own your own aircraft, there’s always room for improvement! Aside from financing an aircraft purchase, here’s what else we can help you with:

Looking to upgrade?

From paint jobs to engine overhauls, we can help you acquire the aircraft of your dreams.

Many aircraft owners are currently upgrading avionics systems to comply with new FAA regulations. Starting January 1, 2020, all aircraft will be required to support Automatic Dependent Surveillance-Broadcast (ADS-B) under the Next Generation Air Traffic Control System, or “NextGen.” This will upgrade the current air transportation system technology to replace the ground-based radar systems with satellite-controlled systems.

Apply for pre-approval today to upgrade!

Need to refinance?

Make the change today to lower your interest rate, extend your loan term, and start saving money. One of our representatives can work with you to find out what plan is right for you. We offer refinancing rates for all budgets and needs.

Thinking of refinancing but aren’t sure if it’s your best option? Check out our Aircraft Loan Comparison Calculator to calculate the monthly payment and interest costs for up to four aircraft loans for comparison purposes — all on one screen.

For more information, contact our customer service to find out more about your aviation refinancing options or fill out our form to apply today.

Changing insurance?

Through our US Aircraft Insurance subsidiary, our aviation insurance experts team up with the best insurance underwriting companies in the aviation industry. We offer liability, hull, and medical coverage so you can be confident that you’re covered while in the sky.

Unlike other types of insurance, we can negotiate aviation insurance to make sure you get exactly what you’re looking for; with our knowledge and experience combined with the best rates and terms and high-quality customer service, US Aircraft Insurance is sure to please.

You can fly high this holiday season

Looking to purchase an aircraft of your own, or make upgrades and improvements to your aircraft? Our team at US Aircraft Finance can work directly with you to find a loan to suit your specific budget. No matter your goal — a new or used plane, a fresh paint job, an avionics stack upgrade, or a complete engine overhaul — we have an aircraft loan that will make your holiday season a little merrier.

We can simplify the financing process so you can get a competitive rate, hassle-free. In just three easy steps, we’ll have you on your way to the aircraft of your dreams.

1.    Calculate

Use our handy online Airplane Loan Qualification Calculator to find out how much aircraft you can afford. Quickly and easily estimate your budget based on your annual income, monthly debt, and interest rate.

Qualifying applicants can receive a loan length of up to 25 years!

2.    Apply

Just fill out our online loan application and then email it to us. It really is that easy. We will review your application to get your pre-approval ASAP.*

*Note: Pages 2 and 3 require your signature. You will also need to submit additional documentation, including tax returns, a copy of your W2, and recent pay stubs.

3.    Review

We will assign a USAF representative to work with you to find the best option for your budget. Our fixed rates include 15 and 20 year terms with up to 25 years amortization schedules, or any shorter term you prefer.

Contact us today for more information

Whether you’re ready to apply today or have questions before moving forward, our friendly and reliable customer service experts can answer any questions you have, from upgrade options to insurance coverage and today’s low rates.

Contact us today!

Phone: (802) 434-4100

Toll Free: (888) 654-USAF (8723)

Email: usaf@usaircraftfinance.com

Write: USAF, P.O. Box 999, Richmond, VT 05477

The History of US Aircraft Finance: Celebrating National Aviation History Month

The month of November is National Aviation History month—an entire 30 days dedicated to “exploring, recognizing and celebrating America’s great contributions and achievements in the development of aviation” (Source: US Census Bureau).

The development of mechanical flight has evolved greatly from the earliest attempts at gliders to today’s ultra-modern, high-tech aircraft models. Here at US Aircraft Finance, we focus our efforts on offering financing options for those looking to purchase their very own General Aviation aircraft, new or used, searching for refinancing opportunities, or hoping to upgrade an airplane with new technology, such as updated avionics to support ADS-B, or mechanics, such as a new engine. (more…)

Plane

Treat yourself with flight before 2019 tax season is over

Autumn is in full-gear which means we’ll soon have to say goodbye to beautiful flying conditions. Have you considered purchasing a new aircraft before the season is over?

If you’re looking for a sign that now is the time, remember that the 2019 tax year is coming to a close, which means you can use your remaining write-off allowances to purchase the new aircraft you’ve been dreaming of.  (more…)

ADS-B: Why you need to make the change now

NextGen

The FAA is now requiring all aircraft support Automatic Dependent Surveillance-Broadcast (ADS-B) under the Next Generation Air Traffic Control System. NextGen is the modernization of the US air transportation system technology, featuring a transitioning of the ground-based radar systems for traffic control and aircraft separation to satellite-controlled systems. 

This upgrade will make flying safer, more efficient, and more accessible than ever before. Real-time ADS-B provides pilots with vital traffic, weather, and flight-information services, as well as broadcasts your aircraft’s GPS position to ground control and other aircraft with ADS-B receivers.  (more…)

Your Aircraft Insurance During Hurricane Season

Hurricane Season Facts

  •       The typical season is said to start June 1 and end November 30
  •       Most hurricanes make landfall in September, followed by August and October
  •       A typical year has 12 named storms, 6 hurricanes, and 3 major hurricanes
  •       The August report anticipates 14 named storms, 7 hurricanes, and 2 major hurricanes this 2019 season

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Financing Your Aircraft Purchase

Financing Your Aircraft Purchase

Summer is in full swing, and the beautiful weather may have you considering an aircraft purchase.

Make your dream aircraft a reality with our hassle-free, competitive loan rates and insurance coverage. You can quickly and easily determine what you can afford in three simple steps that will get you on your way to flying this summer.

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USAF Suggested Itinerary for Oshkosh 2019

USAF Suggested Itinerary for Oshkosh 2019

July is fast approaching, which means Oshkosh 2019 is almost here! Running from Monday, July 22 to Sunday, July 28, the festival has an overwhelming number of demonstrations, lectures, hands-on activities, and more.

We suggest that you buy a program, which contains a detailed map, grab a free copy of AirVenture Today, and read both before starting out. This will help returning and first-time visitor’s deal with the scale of the 1,400-acre show grounds.

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TOP 5 THINGS TO SEE AT OSHKOSH 2019

Top 5 Things to See at Oshkosh 2019

It’s almost time again for the “World’s Greatest Aviation Celebration,” the EAA AirVenture Oshkosh event – undoubtedly one of our favorite aviation events of the year.

Celebrating their 50th anniversary in Oshkosh with 880 exhibitors and over 500,000 attendants, this year is sure to be a good one. It’s not too early to start planning for the July event, so we’ve created a list of our top five must-see highlights at Oshkosh 2019.

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