Are You Ready to Obtain Aircraft Financing? A Quiz

If you’re interested in purchasing an aircraft whether it be for personal or commercial reasons, you’ll of course need to know a little bit about the aircraft financing process. Take the following quiz and see if you have the necessary understanding to proceed with attaining an aircraft finance loan.(1) With regards to aircraft financing for aircraft under $100,000, generally what is the loan term for, say, a 15 year amortized loan?(a) Generally, a 15 year amortized loan has a loan term of 3 years.
(b) The term for such a loan is 2 years.
(c) A 5 year term is usually imposed for this type of loan.
(d) None of the above.Answer: (c) Because most borrowers generally upgrade their aircraft after 5 years, the 5 year term is usually prescribed.(2) How long can the amortization schedule stretch on a loan for an aircraft over $100,000?(a) The length of amortization can be as long as ten years.
(b) Amortization can span over as much as fifteen years.
(c) Sometimes an amortized loan of this type can extend 20 years.
(d) Most amortized loans for aircraft over $100,000 can go as long as 30 years.Answer: (c) An amortized loan over the $100,000 mark can have a breadth of 20 years.(3) With regards to experimental aircraft financing what is generally required of a kit-built plane versus a plane that has not been kit-built?(a) FAA registration
(b) An appraisal
(c) A larger down payment
(d) A title searchAnswer: (c) If you said a larger down payment, you are correct.(4) What is an “advance fee scheme?”(a) A scheme used by some unscrupulous lenders who ask for a sizeable down payment to fund experimental aircraft.
(b) An advance fee scheme is used by some aircraft finance lenders to secure the funds needed in order to conduct a title search and valuation of an airplane.
(c) Advance fee schemes are used to lower aircraft financing rates on single engine and twin engine planes.
(d) Advance fee schemes have been used in some instances of commercial aircraft financing for turbo props that are
hard to finance. An initial fee is charged by a lender with the pledge of financing the loan if the borrower pays the “upfront” expense.Answer: (d) Beware if you’re in the market to finance any jet or turbo prop that has restrictive lending requirements. Many people have lost their money by succumbing to such a scheme.(5) What is the best type of financing to choose if you need to make significant avionic upgrades to your aircraft?(a) A 5-year fixed/adjustable rate loan.
(b) A 7-year fixed balloon loan.
(c) Experimental aircraft financing
(d) A 20-year fixed rate loanAnswer: (d) If you need to make repairs or upgrades every several years to your aircraft, this is the loan to choose.How’d you do on the above quiz? Can you improve on your knowledge with respect to aircraft financing? A little “barnstorming” session never hurts anyone.

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There is an excessive amount of traffic coming from your Region.


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A Guide to Help You Pick the Best Air Purifier for Your Loved Ones

Holidays are around the corner. This is the time of year when people start purchasing gifts for their loved ones. If you are going to purchase an air purifier for someone you love, we have some helpful tips for you. If you want to purchase the best unit, you may be able to use this guide to your advantage. Read on to find out more.

1: Set Your Budget

Just like anything you purchase, make sure you have set your budget first. The price of the unit will vary based on a lot of factors, such as the capacity, filter type, features, and brand of the unit. If you don’t have a flexible budget, we suggest that you go for a product that is available to purchase for less than $300.

2: Consider the Needs of the Recipient

Your next move is to consider the needs of your recipient. If you are going to purchase this unit for everyday use, we suggest that you go for a unit that comes with a HEPA filter. On the other hand, if your loved one has a specific need, we suggest that you consider a specialized unit.

For example, if they are more prone to respiratory issues, such as allergies and infections, we suggest that you get a UV purifier for them. The devices are designed to neutralize viruses and bacteria.

3: Think About the Available Space

Another primary factor is to consider the available space in the office or house of the recipient. For example, if they need a general-purpose unit for a small apartment, you may want to consider a filterless unit.

On the other hand, if they have plenty of free space, you may consider a bigger unit that features a higher airflow rating. These units are powerful enough to cover a large face.

4: Consider Extra Features

Lastly, we suggest that you consider additional features that they will just love. For example, some units come with an indicator that turns on when the filter needs to be replaced. This will allow the user to change the filter so that the device continues to work properly.

So, you may want to consider these features before you place your order. These features may not be important to you, but your friend may just be over the moon.

Long story short, we suggest that you consider these four tips if you are going to purchase a gift for your loved one on these holidays. Since the air is full of pollution during winter days, nothing can make a better gift than an air purifier. Therefore, you should consider these tips before looking for an online or physical store to make your purchase decision.

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