A buyer with a $5-6 million budget and need for 7-8 seats learns that lenders typically cap aircraft age plus loan term at 20 years, with better rates for planes ten years or newer. The sales rep explains what's available in that price range and how financing constraints shape the options.
Budget is about $5 million, looking for a plane to fit 7 to 8 people.
Are you familiar with any of the aircraft models that they might be interested in?
One of the partners currently has a plane right now. I'll get you the specifics on it. I think it's a bit smaller.
I think the plane right now is worth like $2 million, but they were looking to take that plane and, you know, get something in like the $5 to $6 million range. What's the longest trip they need to take?
90% sure it's [MASKED] will typically be the longest trip we need to take.
From a [MASKED]?
Yes, sir.
In that $5 or $6 million range, there's probably a few different airplanes that you can get to do that. They're going to be a little older, if you want, a little bigger.
I have seen some of your social media before. I remember in some of them you said for 10 years and newer, then you could get financing with certain financial institutions with putting a certain percentage down, correct?
It's 100%, but most of the time, typical finance companies will finance an airplane where the age of the airplane plus the term of the loan won't exceed 20 years. It depends if they're going to put $5 or $6 million in equity and want to borrow some money, then
