Q: What is the value of an aircraft that had major damage? -500 hrs. ago?
A: Financing options vary from lender to lender regarding aircraft with damage history. Aircraft with damage history will need to be approved on an exception basis. When preparing a valuation most lenders will not deduct value for past damage history but will likely require a larger down payment and an increase in the interest rate. Generally, the more hours since the incident, and complete logbooks, will affect the finance options available. However, some lenders will not finance aircraft with any substantial damage history. Feel free to give us a call at 800.627.5263 so we can speak with you about your specific aircraft.
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