Our friendly loan specialists take the hassle out of navigating the complex and sometimes hidden financing options to help you own that next piston aircraft quickly. Call us today at 800.627.5263 to learn more about our loan programs for piston aircraft.
AOPA Aviation Finance offers:
Trust AOPA Aviation Finance to get you on board with financing for your next piston aircraft quickly.
Obtaining a pre-approval is the same process as an approval with the exception of having to provide an aircraft spec sheet. You won’t provide the spec sheet until a specific aircraft has been identified. You will need to provide the lenders with a general loan amount, type and model. Once you receive the pre-approval, the rate will be locked for 30 days, and the approval will be good for 90 days.
Rate and loan terms will be determined largely by the loan amount. Currently, we are seeing loan terms from 5 to 20 years (20 years only available on loans of $75K and above) and rates between 4.38%-7%.
Aircraft lenders will require a minimum down payment of 15% on aircraft newer than 1960 and 20% for older aircraft.
Typically, our lenders will consider multiengine piston aircraft manufacture from 1970 and newer. Some lenders will make exceptions for older aircraft.
Depending on the age of aircraft, minimum down payments can range from 15% to 30%.
Most lenders will finance multiengine aircraft for maximum terms of 10-15 years.