With rising interest rates, aircraft buyers need to be more mindful than ever before when securing financing for their aircraft purchase. One of the most effective ways to ensure you're getting the best financing deal is to use an aircraft appraisal to shop rates with different banks.
At Flight Level Partners, we understand the challenges that aircraft buyers face when it comes to financing their aircraft purchase. With interest rates on the rise, it's critical to shop around to secure the best financing terms. Using an aircraft appraisal is a powerful tool that can help buyers get the best rates from different banks.
An aircraft appraisal is a professional assessment of an aircraft's value, condition, and overall quality. The appraisal provides critical information that lenders need to determine the aircraft's value and decide whether to approve financing. When shopping rates with different banks, an aircraft appraisal can provide the benchmark that lenders need to make an informed decision and offer the best possible terms.
By using an aircraft appraisal to shop rates with different banks, buyers can compare financing offers side-by-side and negotiate with confidence. Armed with an accurate appraisal report, buyers can enter into negotiations with lenders, knowing the aircraft's true value. Appraisals provide a benchmark that can help buyers determine a fair price and prevent them from paying more than they need to.
Moreover, using an aircraft appraisal can help buyers identify any underlying issues that may impact financing terms. For example, an aircraft appraisal can identify issues such as shortfalls in purchase price to value or souring market conditions. By identifying these issues early on, buyers can take steps to address them and improve their financing options.
It's important to note that not all appraisals are created equal. When shopping rates with different banks, buyers should use an appraisal that complies with the Uniform Standards of Professional Appraisal Practice (USPAP) and is written by an American Society of Appraisers (ASA) designated aircraft appraiser. These designations ensure that the appraisal meets the highest standards of accuracy and professionalism, providing buyers with the confidence they need to shop rates with different banks.
In conclusion, using an aircraft appraisal to shop rates with different banks is a powerful tool that can help buyers secure the best possible financing terms. By providing a benchmark that lenders can use to make an informed decision, buyers can compare financing offers side-by-side and negotiate with confidence. At Flight Level Partners, we provide comprehensive aircraft appraisal services that comply with USPAP and are written by ASA designated aircraft appraisers. Contact us today to learn more about how we can help you secure the best financing terms for your aircraft purchase.
