When you start researching the options to get an aircraft, you’ll stumble upon different ways to get the one you want. However, you have two main options: leasing or financing the aircraft. Do you want to know the differences between those types? Keep reading. You’ll find their basics and benefits below.
What Does Leasing An Aircraft Mean?
Leasing an aircraft is a process in which you pay for the use of an airplane during a specific period. You can find different leasing options with additional terms, but it’ll probably be around 5-10 years.
The lessee (the person who leases the plane) gains complete control of the aircraft and is responsible for all costs related to its operation, including maintenance, crew, and insurance.
Financing An Aircraft: Everything You Need To Know
When you finance an aircraft, you’re actually buying it. The loan will cover the entire cost of the airplane, and you’ll have to start making payments right away. The lender (the company that provides aircraft loans) is responsible for all costs related to the plane while it’s in the lender’s possession, including maintenance, crew, and insurance.
Leasing vs Financing An Aircraft in Simple Words
The main difference between leasing and financing an aircraft is who owns the plane. When you finance an aircraft, you’re buying it, and the loan covers the entire cost of the airplane; you also get some benefits like tax deductions.
When you lease an aircraft, you’re paying for the use of it during a specific period. At the end of the lease, the airplane goes back to the owner.
The Benefits Of Getting A Private Aircraft
It Helps You Save Time & Money
One of the main benefits of getting a private aircraft is that it helps you save time and money. When you have your own plane, you don’t have to waste time waiting for commercial flights or dealing with airport security. You also don’t have to worry about paying for checked bags or expensive last-minute tickets.
They Can Enhance Productivity
Commercial flights make it difficult to focus because there are a lot of distractions and no privacy. Also, it’s hard to work or discuss sensitive information on a commercial flight.
On the other hand, you have quiet spaces and privacy if you fly on a private plane. This is a good especially for those that work on businesses where time is the most important asset.
Where To Get The Best Aviation Financing Options?
AirFleet Capital is an aircraft financing company in the US. We take every application for our aircraft loans pretty seriously. We work alongside you to determine which of our aircraft loan programs fits your income, budget, and needs. We won’t make you sign anything that’ll affect you in any way.
Now that you’re aware of the benefits of owning an aircraft, don’t waste your time making short arrangements. Be the one in control; get your private plane with AirFleet Capital. We’ve financed over 8,600 aircraft across the U.S. and counting. Be part of the aviation industry yourself and experience the magic. Use our aircraft loan calculator to explore your financing options today.
