What are my options for financing an aircraft?

Adam answers in May’s edition

Question: Who do you recommend for title insurance on a 1980 Cessna TR182 that I'm buying 1/3 ownership? It's in an LLC. Hull value is $150k and I'm paying $50k.

Answer: AvSure is the only source to consider when obtaining title insurance for your aircraft. Some attorneys may offer a title opinion but that’s not the same as title insurance.

Question: I need to discuss my options for financing a plane. What is the process and what are rates? The plane I am interested in is $255,000 and due to location, I will need to get it ferried some distance.

Answer: The process is a simple one, however, it can be somewhat time consuming depending on your financial picture. You fill out an online application and provide supporting documentation (the part that can be time consuming). After that, the loan is submitted to a lender for approval. Once approved the lender will work with you to coordinate the closing.

Rates have been increasing over the last few months as a result of the Fed’s attempts to address inflation. As of this writing, however, you can still find financing for as low as 3.99% fixed for up to 10 years.

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 Co, Financing, Buying and Selling an Aircraft

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