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Aircraft age and ratesAircraft age and rates

Adam Answers

Adam answers in November's edition

Question: Does the age of an airplane greatly affect the rates of financing an aircraft? And, if so, is there anything to help offset the high rate? 

Answer: Rates are primarily based on the amount being borrowed and credit worthiness. Since older aircraft tend to sell for less, the rates tend to be higher. Age of the aircraft does not affect rates, however, it can affect down payment. Typically older aircraft require more down. All lenders determine their age cutoffs differently, but a good rule of thumb is any aircraft manufactured prior to 1960 will require at least 20% down as opposed to 15% down for newer piston-singles.

If you would like to get a rate and term quote for a specific aircraft, give us a call at 800.627.5263. We can give you a quick quote and get you set up with an online application to begin the approval process.

Have questions for Adam? He is happy to answer them. Submit your questions here.

Great rates. Great terms. Helpful and responsive reps. Three good reasons to turn to AOPA Aviation Finance when you are buying an airplane. If you need a dependable source of financing with people who are on your side, just call 800.62.PLANE (75263) or click here to request a quote.

Have a specific aviation finance question you would like to see in future articles? Submit it here, and it may be highlighted in an upcoming content piece.

Adam Meredith

Adam Meredith

President of AOPA Aviation Finance Company
Adam Meredith, President of AOPA Aviation Finance Company, is an aircraft finance professional with more than 15 years lending, small business management and customer service experience. Adam is a commercial pilot with multi-engine and instrument ratings.

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