For the first time since the introduction of the Lancair Evolution in 2008, potential customers are now able to finance their airplanes through NAFCO – National Aircraft Finance Company. The Evolution kit and the new Pratt & Whitney PT6A-135A engine that powers the airplane is eligible for 70% financing.
Bill Leckie III, vice president and operations manager for NAFCO, says: “NAFCO has traditionally offered experimental category financing on insurable aircraft, and since the Evolution has proven to be insurable by the major companies, we’re now able to place these loans with the banks.” NAFCO is based in Lakeland, Florida, and offers financing for engine overhauls, avionics upgrades and a wide variety of airplanes.
The Lancair Evolution is a kit-built, high-performance, single-engine airplane boasting a max cruise speed in excess of 300 knots and an estimated total cost of $1.2 million, including the Pratt & Whitney turboprop engine and a Garmin G900X glass panel. A piston-engine version of the Evolution is also available, powered by a Lycoming TEO-540-A1, with a max cruise speed of 270 knots.
Lancair’s Doug Meyer said the untimely economic downturn, which hit essentially as the Evolution entered the market and severely limited aircraft financing in general, had previously prevented Evolution customers to obtain financing.