All too often, the hardest part of buying an airplane is finding the right financing. The professionals at AOPA Finance not only know the right lenders but also the airplanes and what it takes to put it all together to make your dream of ownership a reality.
Congratulations! You’re ready to do something that every pilot dreams of from their first flight: you’re going to buy an airplane. Now for the fun and frustrating parts: looking for the airplane (fun) and trying to find the right financing (often frustrating).
While the financial pros at AOPA Finance can’t do much to help you find your airplane, with more than 30 years of experience and billions in aircraft loan placements, they can arrange the right financing to make your ownership dream a reality.
“AOPA’s mission is to promote aircraft ownership, and we believe that simplifying financing is a big part of making that happen,” said Adam Meredith, president of AOPA Finance. “That’s why our focus is member-centric. We work hard to find solutions that fit each member’s particular needs and situation. There’s a lot more to it than just finding the lowest rate.
“As a broker dedicated to general aviation financing, we have access to various providers with the best balance of all the variables,” he said. “There are a lot of items that can be easily overlooked if you don’t know what to look for. The typical lending agent may know real estate or cars but doesn’t understand aviation well enough to know what to ask.”
Meredith explained that among the variables impacting the cost and terms of a loan are the airplane’s type and age, as well as the total amount to be financed, how the airplane will be used—personal, business, or flight training—and, of course, your personal financial situation.
“Some lenders won’t finance an airplane over a certain age or if it’s used for commercial purposes like flight training or charter,” he said. “Once we know your situation, we can narrow down which lenders have the best program for you. This saves the buyer a lot of time and headache, and in today’s tight aircraft market a few days can make the difference between you getting the airplane you want and missing out to a cash buyer.”