How do I know how much equity I have in my aircraft?
Your airplane equity is the value of your interest, including improvements, in your aircraft after subtracting the unpaid loan balance and outstanding liens or claims against the aircraft. The market value of your airplane equity increases as you pay off your loan and as it appreciates in value. When all loans an liens are paid off you have 100% equity in your aircraft.
How much can be borrowed for upgrades?
We typically lend up to 80% (with maximum of 90%) of our aircraft valuation on refinances.
What is the process of receiving funds for upgrades?
If there is sufficient equity in your plane, loan funds may be advanced prior to any upgrades. Otherwise loan funds are typically made available upon the completion of upgrade work and upon your concurrence. In an event, no interest is charged on funds held in escrow for upgrades until the funds are disbursed.