Cessna
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Mehmi Financial Group helps businesses finance and lease Cessna equipment, including aviation equipment, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Cessna units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Cessna Citation
Cessna, part of Textron Aviation, launched its first business jet in October 1968 as the Fanjet 500, which became the Citation, according to Textron Aviation. In 2019 Textron Aviation marked 50 years since the first Citation flight.
Cessna aircraft on our list
Our list includes the Citation Bravo and Citation CJ4, light business jets used for corporate travel, charter and owner-flown missions.
How lenders view Citations
Citations have one of the deepest resale markets in business aviation. Lenders review airframe and engine hours, engine programs, avionics, damage history and the aircraft's use.
Financing Cessna aircraft
Aviation lenders handle these deals. A pre-purchase inspection and complete logbooks matter most on used jets.
How Cessna equipment financing works
Most Cessna purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.
What lenders check on a Cessna aviation equipment
Lenders look at airframe and engine hours, logbooks, inspection status and how the aircraft or simulator earns revenue. Aviation financing is specialized and handled by a smaller group of lenders.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and hours and logbooks, and financial statements or tax returns for larger amounts.
See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.
All Cessna models with financing pages
| Model | Type | Category |
|---|---|---|
| Cessna | Equipment | Aviation |
| Cessna Citation Bravo | Equipment | Aviation |
| Cessna Citation CJ4 | Equipment | Aviation |
| Cessna Citation Longitude | Equipment | Aviation |
| Cessna Citation Sovereign | Equipment | Aviation |
| Cessna Citation X | Equipment | Aviation |
| Cessna Citation Xls+ | Equipment | Aviation |
Tax treatment of Cessna equipment
In Canada, aircraft generally fall in CCA Class 9. Aircraft components and simulators can be treated differently, so confirm with your accountant. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.
End-of-term options on a Cessna lease
A $1 buyout lease is built for ownership: you keep the machine for a nominal amount at the end. A fair market value lease usually has a lower payment, and at the end you can buy the equipment at its market value, return it or upgrade. Read the return conditions, such as hour limits and wear standards, before you sign.
Who finances Cessna equipment
Aviation: charter and air-taxi operators, flight schools, medevac and utility operators, and aircraft maintenance organizations finance Cessna equipment to take on new work, replace aging units or add capacity.
The right structure depends on how the equipment earns money. A machine tied to a long contract can support a longer term, while seasonal work may call for skip or seasonal payments that some lenders offer.
Questions to ask the dealer or seller before you finance
- What is the exact model year, serial number and hours and logbooks?
- Is there a service history or recent inspection report?
- Is any warranty or extended coverage included, and does it transfer?
- Are attachments, delivery, installation and taxes itemized on the quote?
- For a private sale, is the equipment free of liens, and who will provide the bill of sale?
Insurance on financed Cessna equipment
Lenders and lessors require the equipment to be insured for its replacement or financed value, with the lender named as loss payee, before funding. Some also ask for liability coverage. Getting an insurance quote early avoids last-minute delays.
Frequently asked questions
Can I finance a used Citation CJ4?
Yes, through aviation lenders who review hours, engine programs and records.
When was the first Citation built?
Cessna launched the Fanjet 500, later the Citation, in 1968.
Can an owner-pilot finance a Citation?
Yes. Lenders review pilot qualifications and insurance.
Can a charter operator finance a Citation?
Yes. Lenders review charter revenue.
Is a pre-purchase inspection needed?
It is strongly recommended and usually expected.
Do Citations hold value?
Citations have a deep resale market, which supports financing.
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