Understanding how long the aircraft financing process takes can help turn that dream into reality faster. While the process may sound overwhelming, securing an airplane loan isn’t as complicated or time-consuming as you might think.
Whether you’re an aviation enthusiast or a first-time buyer, this blog will walk you through each timeline step. Excited? Keep reading to learn how to get fast aircraft loan approval and be closer to owning your aircraft.
A Clear Path to Aircraft Ownership
1. Preparing Your Application (Timeframe Varies)
The first step in the aircraft financing process is putting together your application. This includes gathering personal financial documents and details about the aircraft you’re buying.
To save time, ensure you submit a complete package upfront. Missing information can delay the process, so double-check everything before sending it in.
2. Submitting Your Application
Once your application is ready, it’s time to send it off. An aircraft financing company can offer multiple submission options to make it easy for you, including an online portal, email, mail, or fax.
You’ll receive a confirmation as soon as they get your documents. With everything sent securely and quickly, you’re already moving toward fast aircraft loan approval.
3. The Underwriting Process (5–10 Business Days)
Here’s where things happen behind the scenes. An aircraft financing company’s team will review your credit, cash flow, and financial situation.
Within 5–10 business days, you’ll typically get a detailed approval letter outlining rates, terms, and conditions.
4. Closing (5–7 Business Days)
The final step is where the deal is sealed. After arranging escrow and submitting registration documents, closing can often be completed in as little as 5–7 business days.
While holidays or weather can sometimes cause minor delays, being prepared can help you avoid hiccups. Before you know it, the aircraft is yours!
Every Timeline Can Be Different
While these steps provide a general outline, keep in mind that timelines can vary based on factors like the type of buyer or the size of the airplane loan.
The good news? An experienced company can ensure things move as efficiently as possible, giving you confidence throughout the process.
Take Off Toward Your Dreams with Our Help
With a streamlined aircraft financing process, owning an aircraft has never been easier. So, whether you’re a seasoned pilot or a first-time buyer, AirFleet Capital is ready to guide you every step of the way. Don’t wait to make your aviation dreams a reality.