In contrast to the financing market for business jets, there’s money available for qualified purchasers of good used piston aircraft. In a podcast interview with AVweb, Jim Blessing of Air Fleet Capital said that while lenders may be leery of business jets older than 10 years, he’s having no trouble finding money for those who want to buy airplanes built in 1970 or later, as long as they have their financial affairs in order. He said that while credit requirements have tightened somewhat, there is money available for those who can demonstrate financial stability in the context of the tough economy.
Blessing said it’s a given that many prospective buyers have seen their financials change dramatically over the last couple of years but as long as they can demonstrate they’ve weathered the storm and they’re on the upswing, or at least the cusp of it, they should be fine. He said the best advice he can offer is to get pre-approved for financing so there’s freedom to shop around in confidence for the bargains that do appear in markets like this.
