Aircraft Loans
It is easy to find virtually limitless opportunities for year-round
recreational activities. And, it's more fun to play when you have all the right toys.
No matter where you live, Alaska USA has loan programs for all the vehicles you need
for your outdoor fun.
You'll save time with our fast loan decisions.
Arrange for convenient
automatic payments
from your Alaska USA checking or savings account.
Aircraft Loan guideline
- 1. Maximum amount:
- New - Normally, 85% of purchase price.
- Used - 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).
- 100% financing available for qualified applicants.
- 2. Maximum term:
- 240 months when loan value exceeds $70,000, with a 180 month balloon payment.
- 180 months when loan value exceeds $25,000.
- 144 months on all others.
- 3. Type of lien:
- Security Agreement and FAA Filing.
- 4. Annual percentage rate:
- Periodically established by the Board of Directors based upon current money
market conditions and the credit qualifications of the applicant(s).
- 5. Restrictions:
- All aircraft financed under this guideline must be assembled and certified for
flight, and be for noncommercial use only.
- 6. Miscellaneous:
- 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).
This guideline is approved by the Board of Directors and is effective March 28, 2007.
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