Benefits of Financing your Airplane
More Airplane, Less Monthly
Airplane buyers have many choices when it comes to paying for their purchase. Here are a few of the advantages of financing your purchase through a dealer with a marine lending specialist:
Lower down payments – the down payment is based on the age, type and price of the airplane you are buying, as well as your own credit profile. In today’s market, marine lenders offer financing with down payments typically in the 10%-20% range, but often there are programs available through various manufacturers that could allow you to qualify for less.
Faster credit decisions – because you are working with professionals in the marine industry, those lenders understand airplane s and their buyers. You can apply for a loan and expect a response with in 24 to 48 hours.
Longer financing terms – marine finance specialists recognize the value of a well-maintained airplane, so terms generally will be more attractive than those offered by local banks and credit unions.
Lower monthly payments – because marine lenders extend longer terms on airplane loans than local banks and credit unions, your monthly payments are likely to be much lower than you have expected.
More electronics and extras – marine lending specialists will allow you to finance optional equipment, electronics, extended service plans and life/disability insurance coverage with your purchase.
By financing your airplane purchase you can usually afford a newer, larger or more powerful airplane, a better trailer and all the gear that it takes to make flying safer and more enjoyable!