Aircraft Financing

[Jason]

So what's a typical interest rate and term on a small GA airplane (C-172) these days?

Jason

 

[JayAre]

7% on our 210 with the credit union

 

[slushie]

probably 7-10% on good credit.

 

[slushie]

term could be anything ..20 years or more

check this out:
http://www.aso.com/i.aso3/staticcontent.jsp?which=services/finance/range/loan_01

 

[Jason]

Thanks for the info......

I've looked at all of the airplane finance websites and it seems that they all advertise fairly long terms - I was just curious wether or not they really would finance a fairly cheap airplane for that long of a term (15 to 20 years).

I'm triing reeeeeaaaalllllyy hard to resist the temptation but I happened across one of those "almost too good to pass up" deals.

Jason

 

[shooter13]

What I found when I bought my 150 was that for under $25,000 financed, you could expect some pretty steep interest rates and maybe a 15 year term at longest. AOPA had it at like 12% for 10 years for a 22,000 loan.

I ended up going through my credit union as a "loan secured by other collateral" and pay 7.5% for 5 years.