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Can you finance the purchase of a hangar and airplane?Can you finance the purchase of a hangar and airplane

Adam answers in March's edition. 
Photography of a Cessna 150 in a hangar at sunset. Benton, KS USA

Question: Can you finance the purchase of a hangar and airplane?

Answer: Unfortunately, we do not currently have any lending sources specifically offering hangar financing. This typically falls under commercial real estate. If the value of the aircraft is substantially greater than the purchase price, however, there is the possibility that our lenders could include additional funds to put towards the hangar purchase. In this case they would finance up to 80% or 85% of the total value of the aircraft. Please feel free to give us a call at 800.627.5263 and we would be happy to review your specific situation.

Question: How can I get financing for a Sling TSI from The Aircraft Factory?

I was lucky enough to test fly one at 2019 Airventure Oshkosh. I have been following their advancements for years. From their Sling 2 to their Sling 4 to the one I would like the Sling TSI. They are recently developing a high wing 4 seater.

The issue I ran into financing wise was there needed to be 20 or 25 registered with 3 of them for sale to do comps. I have a Tesla Model 3. It was one of the first Red ones in IL. I’m glad the requirements for a new car like Tesla was not difficult to purchase via financing. We still have and love the car. I feel my options to finance my build are limited to waiting several years for there to be 25 aircraft registered and 3 for sale. Or buy part by part, taking up the 5 to 7 plus years to hopefully accomplish the build physically, emotionally and financially.

Answer: If you are looking to build the aircraft yourself, then you have already spoken with our only source for kit financing. They require 25 registered in the US and 3 comps to determine value. If you are considering purchasing an already built Sling TSI, we have lenders that will accept an appraisal over the need for comps. Please give us call and we can give you a quote and get you started with our application.

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.

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.
Topics: AOPA Aviation Finance Company, Financing, Ownership

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