US Aircraft Finance Launches Airplane Sales: Your Ultimate Guide to Selling Your Aircraft
Your Ultimate Guide to Selling Your Aircraft Exciting News! US Aircraft Finance is thrilled to announce its expansion into aircraft...
For any questions about aircraft financing and insurance, check out some quick answers. For personalized support, feel free to contact us anytime. We’re here to help you with expert guidance.
Here are a few of our commonly asked questions about aircraft purchase and loan financing. Looking for further help? Our team is here to help.
Rates vary primarily based on the type and purpose of the loan, your credit history and income, loan amount, and aircraft value.
We use specific criteria to determine if you qualify for a loan and the amount you can qualify for. You can use our Calculators area to determine whether you can qualify for a loan, the types of loan products that are best for you, and many other things. USAF allows you to apply and get approved right here online – it’s fast, easy, and free (USAF charges no application fee).
We can lend up to 90% of our aircraft valuation or purchase price whichever is less.
We need a completed USAF application (available on line) along with a spec sheet on your aircraft and the last two years of IRS tax returns, W2 for previous year, one month paystubs and proof of assets. If you have any of the following please call prior to completing application: bankruptcy, tax liens, foreclosure, short sale, damage history and/or missing log books.
Typically we offer same day approval and the next business day closing.
Here are a few of our commonly asked questions about aircraft upgrade financing. Have further questions? Send them our way!
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.
We typically lend up to 80% (with maximum of 90%) of our aircraft valuation on refinances.
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 any event, no interest is charged on funds held in escrow for upgrades until the funds are disbursed.
Here are a few of our commonly asked questions about aircraft refinancing. Need more help? The USAF team is here to assist you!
Rates vary primarily based on the type and purpose of the loan, your credit history and income, loan amount, and aircraft value.
We use specific criteria to determine if you qualify for a loan and the amount you can qualify for. You can use our Calculators area to determine whether you can qualify for a loan, the types of loan products that are best for you, and many other things. USAF allows you to apply and get approved right here online – it’s fast, easy, and free (USAF charges no application fee).
We typically lend up to 80% (with a maximum of 90%) of our valuation of your aircraft.
We need a completed USAF application (available on line) along with a spec sheet on your aircraft and the last two years of IRS tax returns.
Upon your authorization we contact and coordinate directly with your current lender providing the necessary documentation and funds to pay it off.
Typically we offer same day approval and the next business day closing.
USAF is an independent national aircraft lender offering some of the most competitive rates and terms available on aircraft loans. Deal direct with USAF and get the right aircraft loan for you without paying a commission or a broker fee to a middleman. The whole process is fast and easy. USAF QuickTurn Financing – Guaranteed!
Here are a few of our commonly asked questions about aircraft insurance. Looking for other answers? Let us know!
While individual insurance company deductibles vary from company to company, in most cases individual insurance companies have set deductibles which cannot be changed. The exception to this is aircraft with insured values generally greater than $1 million.
For liability coverage – as much as is available and you can afford.
For hull coverage – the advice is generally to insure your aircraft for its “market value.” Sources of current aircraft value can be found in aircraft price guides and aircraft for sale listings. This is only a guide however – aircraft condition, options, avionics and equipment vary widely.
Consult with your agent and the insurance company to assist you in determining an appropriate “agreed value” basis.
Over insuring an aircraft can lead an insurance company to repair an extensively damaged aircraft leaving the owner with an aircraft that may never be the same and be difficult to sell later.
In the case of an underinsured aircraft, the owner may not have enough insurance monies to replace the aircraft with a similar one (this is important to remember when adding equipment such as avionics or replacing an engine)
It is also important to remember that an underinsured aircraft will more likely be declared a total loss if it is substantially damaged.
Consult with your agent and insurance company to arrive at an appropriate “agreed value” at the time of insuring.
All of the following will help minimize your premium:
This coverage pays for immediate medical expense sustained in an aircraft accident including that incurred while entering or leaving the aircraft. Usually written in limits from $1,000 up to $15,000 per person, it may or may not cover the pilot.
The coverage is to pay for initial medical treatment and typically has a time limit on the medical service provided. It is considered “no fault” insurance meaning liability does not have to be established for the medical payment to be made.
This coverage can be beneficial because it covers smaller injury claims without filing against other insurance which may or may not offer protection.
Pilot experience is only one factor. Others include loss ratios for general aviation aircraft, specific loss history of the aircraft type and model, aircraft use, geographic location, parts prices, and competition between insurance carriers.
For any further questions about aircraft financing and insurance, feel free to contact us anytime. We're here to help you with expert guidance.
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