Pilots spend their lives dreaming of owning an aircraft. However, the process can be overwhelming when it comes to financing that dream. There are so many questions to answer and factors to consider.
Most people don’t buy an airplane outright. Unless you have a savings account or come into a large sum of money, chances are you’ll need to finance your purchase. But how does aircraft financing work? And how long can you finance an aircraft? Here, we’ll answer some of the most common questions about aircraft financing; read on!
Frequently Asked Questions About Aircraft Financing
What type of aircraft can get financed?
Aircraft financing is available for both piston-engine and turbine-engine aircraft. The most common aircraft that receive financing are turboprops and helicopters.
How long can you finance an aircraft?
This will depend on the kind of aircraft you want. On average, you can get financing for 10 years minimum and up to 20 years for turboprop, pistons, and helicopters.
What are the best aircraft loan programs?
Piston: For this aircraft, you can get a minimum loan amount of $65,000 for private ones and a minimum of $75,000 for commercial ones. The downpayment varies depending on the term. However, you can get up to 20 years of financing with a downpayment of 15-20%.
Turboprop: With a good loan program for turboprops, you should get a minimum loan of $100,000. You’ll be requested a downpayment of 15-20%, and you’ll get financing for up to 20 years for a private turboprop. For commercial ones, you’ll have to make a downpayment of 30%, and the financing can go up to 15 years.
Helicopter: By reaching out to a good company, you should get a minimum loan of $100,000 for a helicopter. The downpayment, on average, will be 25%, and the financing can go up to 15 years.
Why You Should Reach Out To An Aircraft Loan Specialist
When you’re ready to take the plunge into aircraft ownership, working with the right company can make all the difference. An aircraft loan specialist will help you determine the best financing option for your needs and budget.
You’ll be able to take advantage of their years of experience and in-depth industry knowledge to make the best decision for your future.
Work With A Reliable Aircraft Financing Company, Work With AirFleet Capital
AirFleet Capital is the best aircraft loan specialist in the U.S. With over 25 years of experience, we’re here to help you finance your dream of aircraft ownership. We offer various financing options and programs to fit your needs. Use our aircraft loan calculator to explore your financing options today.
Our knowledgeable team is always available to answer any questions. Don’t let the process of financing an aircraft overwhelm you; reach out to AirFleet Capital today.
