Credit for pilots – training finance
Are you looking for a loan for pilots for training or, following your training, a consumer loan despite ongoing training credits?
Loan offers of up to 70,000 dollars – without additional real security – could finance your training. Inexpensive consumer loans make it easier to build up your own household after successfully starting your career.
In the form of a small guide, we accompany you in your loan search for commercial pilots. Find out what loan terms you could use to finance pilot training. Why and what benefits you can expect as a trained pilot in consumer credit.
Credit for pilots – training finance
For future captains of the air, there is hardly any way around the self-initiated credit for pilots for professional training. Germany enjoys the best reputation in aviation training worldwide, but the road to ATPL is long and expensive. At LFT he leads theory to Bremen for 6 months. Then it goes to flight practice to Arizona. Each flight student is currently investing around 70,000 dollars until they have completed all courses and passed the exams.
Since Lufthansa, as the last major aviation company, has withdrawn from financing pilot training, every pilot candidate has been on its own. In contrast to other training loans, the father state does not intervene. Publicly funded training loans are far from sufficient in terms of loan volume to securely finance the training. The free capital market, on the other hand, grants large loans for pilot training for commercial pilots. Problem – Very few banks lend large amounts without real security. Few student pilots can offer a paid house to secure loans. – But even in this case, there are other hurdles.
With a paid property “in the back”, the basic lending would be possible. However, the house bank often does not want to make the loan 30 months repayment-free with a borrower without income. Applicants for the ATPL license can find the tailored loan for pilots for training online. Financing is possible from a bank or even privately. The prerequisites to obtaining a pilot loan for full financing are strict, but not unachievable.
Training credit for pilots – bank credit
Good Finance Bank, for example, finances pilot loans of various sizes in a credit comparison. The credit institution offers flight students up to a maximum of USD 70,000 net loan (full financing of pilot training) without subject-related security. The term of the loan offer is 10 years. A fixed interest rate is agreed for the entire term. The bank allows special repayments at any time. With the full financing of pilot training, however, at least 500 dollars of special repayment must be made.
The applicant is the student pilot who, in addition to a positive Schufa, has no further loan obligations. The credit for pilots for training is secured through the solvent co-applicant. He must prove a monthly net income of at least 2,500 dollars and must not be over-indebted. (No negative Schufa entries). It is also a prerequisite for lending that the co-applicant generates his income in permanent work subject to social security contributions. Self-employment income and other types of income – pension or social benefits from the state – are not recognized as credit-securing income for lending.
Pilot loan for the training of private – partial financing
Many families save the dream of the next generation to glide through the air as a pilot of an A 380. Nevertheless, the money saved and an additional bank loan already taken are not enough to complete the training. In this preloaded situation, it is not easy for prospective borrowers to close the financing gap in the commercial capital market.
It would be easier to obtain partial funding for pilot training from private investors. Traffic pilots later earn above average, the profession is highly regarded. Part of the training path has already been completed. All of the above factors create the necessary trust among investors to intervene in the financing.
Good Credit offers a reputable framework for credit brokering from private to private. The loan could be approved for private pilots in the bidding process. Each investor finances only a small part of the total amount and thus keeps the personal investment risk management. If sufficient bids have been submitted and accepted, a bank will handle the credit process. It collects the money from the investors, transfers it to the borrower and at the same time organizes the process of repayment.
Consumer credit for pilots – low-interest despite ongoing training loan
Once you have successfully entered the pilot’s cabin, young pilots naturally want to fulfill their consumer wishes. The low-interest loan for pilots waits through the loan comparison. With the average high net income of a traditional airline pilot, the high training loan “almost” pays off unnoticed. The current credit for pilot training is therefore rarely an obstacle to taking up an additional regular installment loan.
Depending on the status of the repayment, there are particularly low-interest loan opportunities in the loan comparison. Traffic pilots have an impact on interest rates thanks to their social position and the good reputation of their employer as a safe payer. In the case of lending, the pilot’s score is roughly equivalent to that of a senior official. With an open-ended employment contract in their pocket, almost all credit institutions are rolling out the “red carpet” for consumer loan pilots. Regular pilot loans are therefore almost without exception particularly low-interest.