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Financing Deadlines for Year-end Buyers
Tuesday, December 06, 2011
'Tis the season for list-making... so don't forget to put purchasing an aircraft tops on that shopping list! 2011 is coming to an end, which means if you are looking to cash in on those year-end tax incentives that a business aircraft provides, now is the time to line up your closing. We always see a rush of buyers in December, so to help with your planning, here are some dates to keep in mind if you need to close before the clock strikes midnight on January 1st:
1. The last day to submit a complete financial application package to ensure an answer and closing before year end is Wednesday, December 14th for deals above $750,000 and Monday, December 19th for deals below $750,000. (Please Note: if you have multiple partners or companies, you will want to add a couple extra days for financial review. If applications are submitted after these dates, we will do our best to get the deal closed before year-end as the above are offered as good guidelines).
2. The FAA/Banks are closed Monday, December 26, 2011. We will not be able to wire funds or file documentation at the FAA on this date.
3. December 30th is the last day to close (wire funds and file registration documentation at the FAA) in 2011.
**In the past, weather has played a factor in affecting closing dates by shutting down banks and/or the FAA. It is always best to start the process early to ensure there are no delays.
The holiday season is a busy time and we are happy to help you move through this process as quickly and efficiently as possible. If you have any questions on your specific financing situation and documentation needed, do not hesitate to contact us at 800-390-4324. We will be happy to walk you through the steps and get you flying before the New Year!
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