ALL LOAN SALES ARE FINAL – NO REFUNDS, RETURNS, SWAPS OR TRADE-INS ARE ALLOWED
Customers are granted a 6 month window to repay their loan, with incentives for early payoff as shown below.
LOANS have a Minimum FINANCE FEE of 3%, regardless of how quickly they are repaid.
|HOW THE DYNAMIC LOAN SYSTEM WORKS|
Repay the loan in UNDER 90 Days = We Charge 3% of the amount borrowed, plus any ownership fees we have paid on your behalf.
Repay the loan in 91 to 120 Days = We Charge 4% of the amount borrowed, plus any ownership fees we have paid on your behalf.
Repay the loan in 121 to 150 Days = We Charge 5% of the amount borrowed, plus any ownership fees we have paid on your behalf.
Repay the loan in 151 to 180 Days = We Charge 6% of the amount borrowed, plus any ownership fees we have paid on your behalf.
|HOW WE HANDLE FSE OWNERSHIP FEES|
Your original loan ‘paperwork’ will include estimated fees (based on the current FSE listed fee for that aircraft over the 6 month term of the loan). Each time you visit your account page, our system will calculate your current payoff amount and minimum payment required based on the ownership fee we stored at the start of your loan (times the number of payments we have made of your behalf). While this may not be the exact amount of those fees, it is a solid figure both parties can use in calculations at any time during the loan.
Payment is required every 30 days until the entire loan has been repaid, it is your responsibility to make payments on time.
If a payment has not been received within * 45 days, the aircraft will be repossessed and no refunds will be issued.
Unless Approved In Advance, You May NOT Sell, Ship or Trade Your Aircraft Until the Loan is Paid In Full
* IMPORTANT: Making us aware of the reason for any delay in payments is the key to avoiding problems with your loan.
(we are normally willing to work things out, but if you take no action until your aircraft has been repossessed and\or sold, there is nothing that can be done to help you)
If you have outstanding loan(s) that are unpaid and past due, new loans may be denied and down-payments may be applied towards your outstanding loans without notice.
* If you return the aircraft (Return Lease) that will be considered as a default on the loan and the plane will be repossessed without waiting 45 days.
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