Pratt & Whitney
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Mehmi Financial Group helps businesses finance and lease Pratt & Whitney equipment, including aircraft, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Pratt & Whitney units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Pratt & Whitney Canada
Pratt & Whitney Canada builds the PT6 family of turboprop engines, according to its engine profile. The PT6A is offered in more than 70 models from 500 to over 1,900 shaft horsepower, according to Pratt & Whitney.
Pratt & Whitney Canada equipment
PT6 engines power aircraft such as the King Air, PC-12 and many utility aircraft. Operators finance engine overhauls, exchanges and spare engines.
What lenders look at
For engine financing, lenders want overhaul quotes, the engine's records, the aircraft it serves and the operator's revenue.
Financing Pratt & Whitney Canada equipment
Overhauls and exchange engines can be financed as separate projects, which spreads a large one-time cost.
How Pratt & Whitney equipment financing works
Most Pratt & Whitney 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 Pratt & Whitney aircraft
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 Pratt & Whitney models with financing pages
| Model | Type | Category |
|---|---|---|
| Pratt & Whitney | Equipment | Aviation |
| Pratt & Whitney Aircraft Engine | Aircraft | Aviation |
Tax treatment of Pratt & Whitney 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 Pratt & Whitney 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 Pratt & Whitney equipment
Aviation: charter and air-taxi operators, flight schools, medevac and utility operators, and aircraft maintenance organizations finance Pratt & Whitney 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 Pratt & Whitney 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 PT6 engine overhaul?
Yes. Lenders review the quote and your revenue.
How many PT6A models exist?
More than 70, from 500 to over 1,900 shp.
Can a spare engine be financed?
Yes.
Can an exchange engine be financed?
Yes, as a project.
Do engine records matter?
Yes. Lenders review them closely.
Which aircraft use PT6 engines?
Aircraft like the King Air and PC-12.
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