Q: What is the minimum purchase price to get a 10 year loan? I look at planes in the $ 20,000 to $ 30,000 range after 1960.
A: Thank you for contacting us. The minimum loan amount required for a 10-year term is $ 20,000. This is after the minimum deposit of 15%. Therefore, the minimum purchase price should be around $ 24,000. Please feel free to give us a call as you get closer to the purchase. We always recommend that AOPA drivers be pre-approved when purchasing.
Q: I’m thinking of buying my first plane. Would you like to fund an experimental one? The one I’m looking at right now is a 2016 SONEX, three-speed, with an asking price of $ 39,000. What is the rate and the duration?
A: A number of our lenders offer financing on experimental aircraft. In some cases, a lender may require the aircraft to be appraised. Our account managers will discuss this requirement with you at the start of the application process. A SONEX is common enough that an assessment is unlikely to be necessary. For a purchase price of $ 39,000, rates will drop by approximately 7.5% for 10 years. Keep in touch as you search. Our account managers can help you provide quotes and rate evaluations when you shop.
Do you have questions for Adam? He is happy to answer them. Submit your questions here. Excellent rates. Excellent terms. Helpful and responsive representatives. Three good reasons to turn to AOPA aeronautical financing when you buy an airplane. If you need a reliable source of funding with people who are by your side, just call 800.62.PLANE (75263) or click here to request a quote.
President of the aviation finance company AOPA
Adam Meredith, President of AOPA Aviation Finance Company, is an aircraft finance professional with over 15 years of experience in lending, small business management and customer service. Adam is a professional pilot with multi-engine and instrument qualifications.