Aircraft Loans

Having your own plane doesn't have to be out of reach with an aircraft loan from Alaska USA! No matter where you live, Alaska USA has loan programs for the airplane you want, whether it's on floats, wheels, or skis.

Aircraft Loan guideline

New - Current and next year's model year, or prior model year until April 1.

New Used
Maximum loan amount Normally, 85% of purchase price. Normally, 85% of the lesser of: (a) purchase price or (b) value as determined by an accepted appraisal (and confirmed by the Aircraft Blue Book on nonpurchase-money transactions).
Additional amount Higher percentage of financing may be available for qualified applicants.
Type of lien Security Agreement and FAA Filing.
Annual percentage rate (APR) Periodically established by the Board of Directors based upon current money market conditions and the credit qualifications of the applicant(s). View Loan rates and online specials.
Restrictions All aircraft financed under this guideline must be assembled and certified for flight, and be for noncommercial use only.

Insurance requirements shall include proof of in-flight and ground hull coverage with a breach of warranty endorsement at loan closing. Legible copies of the log books must be provided for final approval. These include the logs for the airframe, power plant and propeller (if required by the FAA).
January 28, 2009