Is purchasing an aircraft on credit as simple as it seems? You pay a down payment and then weekly instalments until the aircraft + interest is paid off? Because in the cases I have been seeing a used aircraft instalment is often lower than the weekly leasing rate. I don’t want to get stuck with any unexpected fees! And can you sell the aircraft before you have fully paid off the aircraft?
Not quite. You pay the down payment, and then weekly instalments PLUS interest on the amount still owed (Value - Down Payment - Weekly Instalments already paid)
Indeed, it’s a mistake almost every new player (myself included) has made: to look at the data shown and assume that the amount shown will be your weekly fee, because that’s what those figures seem to imply.
Because nobody in their right mind expect interest rates to be so ridiculously high. Why the silly rates haven’t been fixed after all these years is beyond me!