Question: I am planning to purchase a Cirrus SR 20 next month for $290k. I’m planning to put 40% down so I can borrow less. What type of interest rates should I expect?
Answer: I certainly understand your desire to borrow less, sometimes however, when you borrow less it can cost you more in rate. For example, when borrowing less than $150k most lenders have increased interest rates to make up for lesser amounts being borrowed. However, in this case, assuming a $290k purchase amount and 60% financed, borrowing more than the $174k loan your seeking won’t get you better options. We are seeing rates as low as 3.75%.
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.
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.