View at The Airplane Factory
Contact Dave 083-7033329 or email email@example.com
|Interior of FYA|
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Financing of second-hand aircraft is possible through Standard Bank as well as some other financial institutions.
The criteria for financing are as follows: (See Standard Bank website here)
Non-Type Certified Aircraft - ZU registered aircraft:
- The aircraft must be 5 years old or younger;
- There must be more than 10 of a aircraft type registered at the SACAA;
- The aircraft must be assembled by the local distributor that is approved at the Civil Aviation Authority. We will not consider homebuilt kits;
- 20% deposit is required;
- VAT can be funded but must be paid back into the agreement in month four of the repayment plan;
- Maximum repayment period is 60 months
- No Residual Values;
- Aircraft are financed on a Micro-light Instalment sale agreement
- The aircraft must be comprehensively insured for full flight cover for the duration of the finance period.
Information Required on the Aircraft
For valuation purposes and initial application to credit:
Copy of the Aircraft specification sheet, which must include the following:
- Aircraft Type
- Year of manufacture
- Aircraft registration number and serial number
- Latest airframe hours
- Engine hours since major overhaul
- List of additional avionics
- Damage history
- For brand new aircraft we merely require a copy of the purchase agreement between the client and the supplier.
- Copy of the pro-forma invoice
- If the aircraft will be used to generate income, please provide a copy of the operating contract or utilisation agreement.
Prior to payout:
- Copy of Certificate of Registration
- Copy of Certificate of Airworthiness
- Copy of latest Certificate of Release to Service
- Copy of aircraft Radio Licence
- Letter confirming who will conduct the maintenance on the aircraft with the relevant AMO number stated on this letter.
- Certificate of insurance which must include the following:
- Standard Bank to be noted as First loss payee
- Standard Bank to be noted as Additional Insured
- Breach of Warranty AVN28B/AVN67 B in favour of Standard Bank.
- Insurance to include LSW555C/D
- All geographical areas of operation and uses of aircraft must be covered.
- If Second hand, copy of airframe and engine log books first and last page to confirm the hours on the aircraft specification sheet originally provided as well as the serial numbers.
- Invoice (made out to the client NOT Standard Bank)
Alternative finance also available throught Aircraft Finance Corporation.
Dave on 083-7033329 or firstname.lastname@example.org will take you through the finance process for finance on our selected new or second-hand Sling aircraft for sale.