Owning an aircraft can sound crazy, but it’s extremely useful for those with a corporate lifestyle where traveling is inherent. They’re a faster and cost-effective option when traveling for business.
You can avoid the hassle and wasted time of flying commercially, especially when traveling with a group. You can tailor your travel schedule around your meetings instead of the other way around. But, is buying an aircraft a good investment? Keep reading to find out.
4 Things You Must Consider Before Buying An Aircraft
-
Can You Cover Maintenance Costs?
Like any vehicle, an aircraft requires regular maintenance to stay operational. This includes scheduled check-ups and unexpected repairs that may pop up from time to time.
Before you purchase an aircraft, make sure you have a realistic estimate of what these costs will be to budget accordingly. Maintenance costs can vary widely depending on your aircraft’s make, model, and how often you fly it.
-
Will It Be An Investment For Your Organization Or Company?
Another factor to consider before buying an aircraft is whether or not it will be a good investment. If you plan on using the aircraft for business purposes, you have to be sure it’s a good investment. It should save you enough transportation costs to cover ownership and operation costs.
Yes, aircraft are efficient in moving from one place to another, but if you frequent places close to each other, you may select a smaller aircraft. If your business requires confidentiality and traveling long distances, a comfortable and bigger aircraft may be your go-to option.
-
You Must Choose The Right Aircraft For Your Needs
Safety, comfort, practicability, performance, and good looks are things you need to consider. All these factors play an essential role when choosing the right aircraft. Remember that it’s vital that you purchase an aircraft that will suit your specific needs. Ask all the questions you have to make sure you’re making the right decision.
Most aircraft financing companies will have different loan programs according to your budget and needs. You shouldn’t choose an aircraft just because you can afford it; you have to make a thoughtful decision.
-
Should You Get A Loan?
Unless you have the cash on hand to pay for an aircraft outright, you’ll likely need to finance it. There are a few things to keep in mind when considering financing an aircraft purchase:
- The interest rate on your loan
- The term of the loan (how long you’ll have to make payments)
- Whether or not you’ll need a down payment
- Your credit score
- The value of the aircraft (will it appreciate or depreciate over time?)
An experienced aircraft financing company can help you determine which loan program is right for you and offer advice on how to get the best terms possible.
Get An Aircraft Loan With AirFleet Capital Today
AirFleet Capital is an aviation financing company that provides outstanding deals to get your dream aircraft. We’ve been in the business for over 2 decades. We’re proud and active members of the NBAA, IADA, NAFA, Seaplane Pilots Association, and EAA.
Our aircraft loan rates are competitive, allowing you to find an aircraft that your budget can cover. You can also use our aircraft loan calculator to have a more accurate idea of our rates. Browse AirFleet Capital’s website today and deep dive into details.
AirFleet Capital’s staff knows the industry because they’re aviation enthusiasts or former pilots. We understand the market and your needs. If you want an aircraft for your corporate purposes, we got you. We’ve financed over 8,650 aircraft across the United States, and we’re waiting for you to become the next.
