Question: It sounds like kit financing has changed greatly lately. What has caused the change and what options are available to finance kit amateur built aircraft now?
Answer: AOPA Finance has not seen any significant changes lately in our lenders who finance kit aircraft. If looking to finance a kit to build yourself, the only change is that the kit must be purchased direct from the manufacturer and come with a Kit Bill of Sale. This allows the lender to file a security interest in the aircraft with the FAA while the aircraft is being built.
If looking to purchase a homebuilt aircraft that is already complete and airworthy, we have not seen any changes in financing options. In fact the lending options have broadened as more lenders are becoming comfortable with common models such as Vans and Lancairs. As long as a value is able to be determined, either through comparable sales or appraisal, we have options available for completed kit aircraft. Please give us a call so we can discuss options for the specific aircraft you are considering.
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.