Deciding that you want to own a helicopter is a big step. Whether you want to own a helicopter for personal enjoyment, to start your own helicopter charter company, or so that you can have a helicopter on demand when you need one; it there is probably going to be a need for you to finance the purchase.
Having a helicopter can make your life a whole lot easier. For some it can mean an increase in business. For others it gives the freedom to be able to travel anywhere else in the world. The thing is that most people can not afford the price of a helicopter outright. Even most corporations can not afford the cost of a helicopter outright. That means that financing is going to be necessary for the purchase. If you are going to be financing a helicopter there are five tips that can help you with your decision and your purchase.
5 Tips for Financing a Helicopter
Tip 1 – Look at What the Competition Offers
Before you settle with one company, you should check out what the competition has to offer. This is not only the case with a helicopter loan but with any loan. Do some research and find out what the competition is offering. This is going to help you so that you can be sure that you are getting the best rates. It can also help you to know what the bank is going to expect from you in the form of a down payment and information. It will also give you all of the information that you need.
Tip 2 – Talk to a Loan Officer
When you are talking to a loan officer there are other things that you need to do. You need to be willing to ask questions that you might have. Not asking questions can end up costing you big later. When you have found that perfect loan package you can make phone calls and find out information about what you need in order to apply for that loan.
Tip 3 – Know Your Own Limits
The things that you should do is know what types of limits that you have. You should make sure that you have knowledge of what your credit score is or what you have available at collateral. Doing this will help you know if this is something that you can actually do when it comes to applying for your loan.
Tip 4 – Make Your Own Checklist
The next thing that you are going to need to do is that you should make your own checklist. This should include the information from the bank. It will also include any information about what is going on. You will have to get documentation together for a loan of this size. Documentation on income and income history, information about upcoming income, and more is going to be needed since this is a large loan. In addition, you should have information about your current credit and other things.
Tip 5 – Know What to Expect
Finally you should know what to expect from the loan process. You should not be applying for a loan if you are in a hurry. You will want to make sure that you have time to take all of the necessary steps. In addition you want to make sure that you take your time to make the right choices.
When you have dreams of owning a helicopter, the first thing that you are going to do is consider which helicopter aircraft loan is going to work best for you. If it comes down to the line and you are not able to purchase your own helicopter then you might want to consider private jet charters that can meet your needs.
