How to
Buy an Aircraft
Step 1:
Choose the Make/Model
that is Right for You
Step 2:
Get Pre-Qualified
for Financing
Step 3
Shop Around
Step 4
Research Your Aircraft
Step 5
Put a Deposit on the Plane/
Open Escrow Account
Step 6
Pre-Purchase Inspection
Step 7
Verify the Aircraft
has a Clean Title
Step 8
Get a Quality
Insurance Policy
Step 9
Arrange Final Payment
Step 10
Closing Paperwork
Step 11
Pick Up your plane/
Schedule Delivery
Printable Version
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Aircraft Buyer's Checklist
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Step 2: Get Pre-Qualified for Financing
Too many pilots search for the perfect aircraft, and then have it sold out from under them while they are making their financial arrangements. You don't want your dream aircraft to be owned by someone else!
We recommend you get pre-qualified right now! There are many aircraft lenders that can pre-approve you over the phone in as little as fifteen minutes, or you can apply online. Once you have been pre-approved, you are under no obligation to use the loan; it will just be there for you if and when you need it.
Most lenders require a minimum of 10% down with a 10-20 year loan. These aircraft lenders offer a low monthly payment with outstanding repayment terms. Some offer additional pilot incentives as well.
Some local banks also handle aircraft loans. Usually these lending institutions are less experienced with aircraft loans and can
often cause delays, however this is not always the case. If you prefer to use your local bank you should contact
their lending department directly.
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