FAQs

Frequently Asked Questions

Q: How long does the aircraft loan approval and closing process take?

A: With a completed application, necessary tax returns and financial information we can have an approval in one day. We can close within 2-3 business days, once the loan documentation has been sent for your signature.

Q: What is needed in order to start the Approval process?

A: A completed loan application including your personal financial statement along with complete copies of your last two years federal tax returns.

Q: Why does an individual have to fill out personal information on the credit application and a personal financial statement if the aircraft will be registered in a company name?

A: A personal guaranty is required on every loan.

Q: Do you need my entire tax return?

A: Yes.

Q: How much can be borrowed on an aircraft?

A: We lend 90% (10% down) on Private Use, Independence-built Cessna aircraft (1997 and newer), that are in Van Bortel Aircraft, Inc.'s inventory.  We also lend 90% (10% down) on all New Cessna Aircraft.

Q: Do you finance sales tax?

A: No.

Q: What are the insurance requirements?

A: Full hull insurance both in flight and on ground with Breach of Warranty, Loss Payee and 30 days written notice of cancellation given to the lien holder.

Q: Is there an option for automatic payments?

A: Yes, we can set you up for ACH.

Q: How do I determine the payoff balance of my loan?

A: Call or email us anytime for the payoff for a particular day (including principle and interest).

Q: Is there a prepayment penalty?

A: There are absolutely no prepayment penalties.

 


Contact Brian Bourett for all of your financing needs.

800-289-8443

817-468-7788

Fax: 855-346-2629

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Thank you George and Cynthia for your help in finding the perfect C172 to add to our fleet of training aircraft! Flawless transaction! -Neil Visse

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