Bank of America Offers Benefits for Members
Smooth the process of getting an aircraft loan
One of the benefits of securing an aircraft loan through AOPA’s partner, Bank of America N.A., is the pre approval process. According to a Bank of America, N.A. Senior Vice President for Aircraft Financing Jennifer Giampietro, prospective owners often reverse the process. First they find an airplane; then they see if they qualify for the loan. She suggests that buying an airplane is far easier if you do those steps in reverse order.
Bank of America, N.A. makes the pre-approval process as easy as possible. Simply, go to www.aopa.org/loans and complete the online application. Within 24 business hours, a Bank of America, N.A. representative will telephone you with a decision. “That way, when you go out shopping for an airplane, you will know your price range,” Giampietro says. “Plus you won’t get caught trying to buy an airplane that you won’t be approved for. If you know what airplane you want, we can tell you if we’ll finance it.”
In addition to providing pre approval for AOPA members, Bank of America, N.A. offers a bonus benefit. Your annual AOPA membership dues will be paid by Bank of America, N.A. for the life of the loan. On average, that equals about 10 years of paid dues for the AOPA member, a $450 value!
If an aircraft purchase is in your future, Giampietro suggests you visit www.aopa.org/loans, recently expanded; it supplies important information for the new buyer on the purchasing process. Visitors can browse through several aspects of aircraft financing, including Frequently Asked Questions, Application Process and examples of all documents that are required. And if all of your questions aren’t answered, just fill out the “Want more info?” form and indicate whether you want to be answered by phone or email and it’s likely that Giampietro herself will answer your questions.
May 2, 2011