Buying an aircraft is a major decision, and though it is an exciting prospect, it is necessary to be patient and not leap into a purchase unprepared. Taking the time to properly research and thoroughly understand your travel needs, purchase options, and financial requirements will ensure that your aircraft fits your wants and needs.
Let’s take a deeper look at how to choose the right aircraft and how U.S. Aircraft Finance is poised to help you make the best financial choices for your purchase.
Choosing the Right Aircraft
Careful deliberation of how you will use your aircraft will narrow your options and keep you from buying too much plane for your needs. How often and how far are you going to be traveling? Are you planning to use your aircraft for only business or leisure trips, or will it be used for both types of travel? Will anyone be traveling with you? Additional factors like trip distance, flight load, and common flight conditions are vital aspects to consider when determining the type of aircraft that will be best for you.
Another point to consider is whether to purchase a new or pre-owned aircraft. While there is a cost differential between buying new or pre-owned, that is not the only difference between the two. For example, new aircraft are highly customizable. While buyers can configure the plane to their hearts’ content, the plane may take longer to assemble. Some upgrades can be made to pre-owned planes at a later time, allowing you to purchase and have your aircraft with significantly less lead time.
Whatever your needs are, be diligent in analyzing which options make the most sense for your situation.
Knowing how much plane you can afford will keep you from setting your heart on an aircraft just outside your price range. The USAF loan qualification calculator will help you estimate just that. By entering your monthly income and debt payments, you will receive an estimate of the type of loan payment and loan amount that will work best for you based on your financial situation.
At USAF, we know our customers are eager to take off. That’s why we’ve streamlined the loan application. You don’t need to wait up to 30 days for a loan approval when working with USAF. Our fast-acting team typically approves loans within a day.
What Else is There to Do?
Once you know your aircraft needs and understand the costs and payments surrounding it, it’s time to pick out your plane. But is it that simple?
If you have the option, we highly recommend flying the aircraft before you buy it. Doing so will give you a feel for the aircraft and ensure it is fully operational. A pre-purchase inspection is also key. Having the plane inspected by a trusted aviation mechanic will further establish the condition of the aircraft. A pre-purchase inspection and document review of the airworthiness certification, service bulletins, logbooks, and equipment lists by a mechanic experienced with your specific type of aircraft can mitigate any concerns about potential issues not evident to the naked eye.
Just like any major investment, your aircraft will need insurance. USAF works with the top underwriters in the aviation industry via our subsidiary, U.S. Aircraft Insurance. Unlike most other types of insurance, aviation insurance is negotiated, allowing our highly knowledgeable professionals to get you the right policy at the right price. We provide our insurance applications online with coverage information so you can complete the forms at your convenience.
Finance Your Aircraft with USAF
USAF has been a leader in aircraft finance since 1998. With customer service at our core, we are ready to help you take the next step into the world of aviation. Buying an aircraft, upgrading one, or applying for insurance doesn’t have to be stressful. Our quick, easy, and convenient loan process typically leads to same-day approvals and next-business-day financial closings. No matter the financial need, we are here to help our clients navigate the complexities of the loan and financing processes. Contact us today and let us help you start or expand your aviation journey.