- Purchasing airplanes that are no older than 20 years will get you the most competitive rate and terms.
- Make sure you and the lender are all valuing the airplane the same way. Certain “add-ons” may not merit the same value to lenders as it does to you the buyer.
- Be prepared to put your best foot forward. The stronger you appear as a borrower, the lower the rates and more flexible the terms. For example, additional guaranties can get you better terms and rate. Likewise, expect higher a higher rate and more restrictive terms if you are unable or unwilling to provide a business or personal guaranty.
- Carefully consider how long you intend to keep the loan (and/or whether you would likely be trading up) and get comfortable with prepayment penalties if you can, or else be prepared to pay more in rate or closing costs.
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.
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.