You shopped for the best airplane deal. . . now don’t lose your savings to a bad finance deal!

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It happens all the time. Enthusiastic aviators find their dream airplane and bargain relentlessly to make it affordable. Once that's done, they settle for their first offer of money without understanding the terms, shopping the competitors or even understanding how the banks make their lending decisions.

Don't make this costly mistake! There's an easy way to get the best financing deal.

So let's try this again. . .

You find the perfect airplane and hammer out an incredible deal. Now, you contact an aircraft financing broker who only finances aviation products and may even be a pilot himself! This broker works with multiple lenders and therefore can direct your application to the lender that will best meet your needs and is most likely to issue a prompt approval. You complete one online application that is quick and straight forward. After one credit check your broker will contact several lenders and compare rates and terms. One to two days later, your broker calls you with the good news. . . "Your approved!"

But you're not only approved. You're approved for the best loan based on your needs and your financial condition. All this with one phone call, one application, one credit check and about one day!

Now imagine there's even a better way. . .

What if you contact your aircraft finance broker first, and after securing your approval you proceed to shop for your perfect airplane?

Well, you've probably increased your leverage and chances of negotiating success when you're a "pre-approved" buyer. The seller can quickly commit to you because he knows that the deal won't get quelled at the last hour after all of his potential buyers have moved on to find other airplanes. Additionally, you're comfortable knowing how much airplane you can afford and your nagging fear of being denied credit after you've extended an offer are eliminated!

Finally, whether you obtain a pre-approval or secure your financing after you've found your plane, your broker will take care of all of the paperwork. While this may not seem like a big deal, there's a pretty good chance that your typical bank lender who doesn't specialize in airplanes won't have a clue how to file the state and FAA paperwork for your new airplane creating headaches long after the loan is closed.

Clearly, this is a no-brainer. While most of us have great relationships with our personal or business bankers, when it comes to financing an airplane, the aircraft financing specialists will streamline the application process, direct your application to the best lenders for your needs and financial condition, identify the best package and close the loan flawlessly. It doesn't get any simpler than that!

To learn more about aircraft financing, listen to a recorded interview with Lezonne Hertz of AirFleet Capital. You can stream, download or read the transcript of the recording.