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Interest rates for aircraft loans vary depending on credit worthiness.
As a general rule of thumb, look to current home mortgage rates for borrowers in your credit rating to determine what your aircraft loan rate could be.
Most aircraft loans require a 15-20% down payment.
Depending on the age, type of aircraft, and whether it is for personal use or charter, that percentage will vary. The best way to find out your down payment needs is to reach out to us to connect with one of our aviation finance specialists.
Typically, terms are between 10-20 years.
Those terms will vary depending on the age and use of the airplane and will vary by model. If you want shorter terms, we do have lenders that can work with you to achieve your payment goals.
You might have some questions about financing an aircraft, and thats okay!
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The rate for the loan will be dependent on your credit worthiness. Using our aircraft loan calculator, you’ll be able to adjust the interest rate and amortization to determine what your monthly payment could be.
The short answer is “probably not.” Most banks don’t understand aviation financing or how to underwrite planes. We have access to capital markets that do understand airplanes, and want to get you approved to fly.
Financing an airplane is much closer to financing a home than it is financing a car, an RV, or a boat. The documentation process and underwriting process cause for it to often times be frustrating, but by using our online application and high-touch service, we make the process much more enjoyable.
Using our online aircraft financing application, you can easily find out if you qualify for a loan. Be prepared for any aircraft purchase over $125,000 to provide tax statements, bank statements, and other proof of credit worthiness.
At Flying Finance, we’re your trusted partner in aviation financing. With a deep understanding of the aviation industry and a commitment to making your dreams take flight, we provide tailored financing solutions for business jets, piston aircraft, turboprop aircraft, helicopters and more. A financier who understands aviation.
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