How does an aircraft finance broker help you in your aviation purchase? You’ve just had another leisurely flight on a rented jet, and you’ve decided it’s time to stop renting. You’re ready to make a purchase.
You’ll need to fund the acquisition, but the bank where you obtained your mortgage and auto loans doesn’t know the difference between a Piper and a Pilatus and won’t consider aircraft loans.
Where can you go to find the best interest rate on a loan? You’ve just had another leisurely flight on a rented jet, and you’ve decided it’s time to stop renting. You’re ready to make a purchase.
You’ll need to fund the acquisition, but the bank where you obtained your mortgage and auto loans doesn’t know the difference between a Piper and a Pilatus and won’t consider aircraft loans. Where can you go to find the best interest rate on a loan?
Contacting banks directly to inquire about airplane financing is not highly recommended. You’ll almost certainly have to go through the application procedure to know what rate you’ll get from a particular bank.
That implies the bank will “grab” your credit record and perform due diligence on it. Your credit rating suffers a minimum penalty every time your credit is “pulled,” which may be as much as five points.
When you apply to four different banks, the impact on your credit score might be significant. Rather than looking for the right bank, we propose looking for the proper airplane finance broker. And find out “why” in this article for guidance and for you to take the right step to take.
What is an Aircraft Finance Broker?
An aircraft broker is someone who helps you find the right plane for your needs. These brokers are typically involved with buyers and sellers throughout their process, from initial discussions to closing a sale.
In the process of buying and selling aircraft, there are many different types. Brokers work for both buyers in acquiring planes. While sales representatives represent sellers by helping them market their products to potential customers before they are sold on a dealer’s lot or elsewhere.
Whether you are buying or selling a business jet, the counsel of an expert in this market is one way to ensure that all your needs are met, and nothing else gets in the way.
Aircraft Finance Brokers – What They Do
- Answers Your Aviation Questions
You can bet that your options will be presented to you. Yourbroker is a walking, talking encyclopedia of finance, and your broker will try their best not just for you but also on behalf of other clients who might need guidance in this area too.
You won’t have any guesswork about what the right decision would be – because they’ll tell it all upfront with complete transparency, so there are no surprises at closing time around here either.
- Ensures Your Safety
Considering the news of private aircraft disasters and other mishaps, it’s risky to entrust your life to a charter without understanding the specifics of their competence.
Everyone can tell you it is safe, or that the plane has undergone inspections, or that the pilot has tens of thousands of hours in the air. But how can you tell if you should believe it? You might quickly find yourself in a messy situation if you don’t know what you are searching for.
Aircraft brokers are well-versed in industry requirements, as well as safety checks and certifications. Detailed information on each aircraft is available to them.
They may look up FAA records to see whether the private jet has cleared inspections and is ready to fly. Furthermore, brokers have information for pilots. Whenever you put your life in danger, they assure you that your pilot is experienced and has a good track record.
Once it comes to riding on a private jet, safety is paramount. Just do a little background research before taking someone’s word for it. You’ll need one who is both experienced and informed to know what you’re seeking.
A broker is someone who can supply you with the degree of security you require while also providing you with a degree of comfort you otherwise wouldn’t have.
- Will Help You Find The Best Deal
When you work with your broker, they will be able to find the best deal for what’s right in terms of location and price. That means no surprises when it comes down to time or cost, thanks to their knowledge about all things aircraft finance-related.
- Become Your Ally in Aviation Purchase
If you are new to the world of private aviation, it can be challenging to figure out all that is required when buying your very first airplane.
The terms and conditions are different depending on where you live, making this process even more confusing for newcomers like us. But with a broker looking after your interests, there’s no need for any surprises or else fields coming from every direction.
So we’ve got everything worked out ahead of time-from financing options right down to how often they’ll want their oil changed (every thousand hours).
- Stress Free Process
Peace of mind is worth every penny because when you’re not worrying about the process, it means that everything will go according to plan. Knowing your options are secure can make for an enjoyable experience in any situation.
You can rest easy knowing that your flight will be a safe and worry-free experience. You will have all of the amenities on board, designed just for you.
Your broker has already taken care of any safety concerns with their thorough screenings before each trip starts. You know you want peace of mind.
You Will Always Need One
The purchase of an aircraft is a complex process that can be difficult to navigate without the right help.
An aircraft finance broker acts as both guide and advocate, helping you find what’s best for your needs with ease while also ensuring all steps in the transaction run smoothly from start to finish. They are there every step along this journey.