Buying your first aircraft is an incredibly exciting experience, but the financing process can seem intimidating. Don't worry. By taking a methodical approach and working with the right partners, you can navigate the path to ownership with confidence. Here is our 6-step guide to success for first-time aircraft buyers.

Step 1: Get Your Financials in Order

Before you even start looking at airplanes, look at your finances. Lenders will want to see a strong credit score (700+ is a good target), a clear picture of your income, and a healthy debt-to-income ratio. Gather your tax returns and a personal financial statement.

Step 2: Get Pre-Qualified

This is the single most important first step. A pre-qualification from a broker like Jaken Aviation tells you exactly how much you can borrow. It makes you a credible, serious buyer in the eyes of sellers and allows you to shop with confidence.

Step 3: Assemble Your Team

You'll need a team of experts. This includes your financing broker, a trusted A&P mechanic for the pre-buy inspection, and an aviation insurance broker. We can help you connect with trusted professionals in each area.

Let Us Be Your First Call

As a first-time buyer, you need a partner you can trust. We'll guide you through every step of the process, from pre-qualification to closing.

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Step 4: Making a Contingent Offer

Once you find an aircraft, you'll make an offer that is contingent upon the successful completion of a pre-buy inspection and securing financing. This protects you from being locked into a purchase if the aircraft has issues or if the loan doesn't get approved.

Step 5: Navigating the Pre-Buy and Escrow

The pre-buy inspection is a deep dive into the aircraft's condition. If it passes, the transaction moves into escrow. A neutral third-party escrow agent will handle all funds, title searches, and FAA registration paperwork to ensure a secure transaction.

Step 6: Closing and Beyond

Once the lender is satisfied with the pre-buy and title search, they will fund the loan into escrow. The escrow agent pays the seller, transfers the title to you, and you are officially an aircraft owner. Congratulations!