Aircraft Loan Calculator - The National Aircraft Finance Company is also an aircraft loan lender similar to AOPA. However, they have a loan calculator that is extremely simplified. The user puts in the loan amount, interest rate, and number of years on the loan and then it calculates a monthly payment for the user.
There's no loan amortization table or any other features. The National Aircraft Finance Company(NAFCO) has been in business since 1987 and is an affiliate of Pilot Bank headquartered out of Tampa Bay Florida. Similar to AOPA, a person can visit their site in order to find requirements to fill out to apply for a loan.
Aircraft Loan Calculator
Their calculator selects a range of interest rates based on the type of aircraft a person selects and calculates a payment within that range. They also calculate a persons range of payments for a 20 year, 15 year, and a 10 year loan which gives the user a broad understanding of how loan term may affect their payment.
National Aircraft Finance Company
Aerotrader's loan calculatorlet's the user enter a purchase price and a down payment percentage in order to calculate a users loan amount. Then using the interest rate and the number of payments, the calculator calculates a users periodic payment.
After that, it adds the users total payments and splits the total payments into total interest. Van Bortel Aircraft Inc is the self-proclaimed "world's largest cessna dealer" and so it make sense that they would have an aircraft loan calculator on their site.
Van Bortel not only sells the planes but also offers financing as their is a place on their site to fill out finance applications. Dorr Aviation Credit Corporation is an aircraft finance company and lender. DACC has a very simple loan calculator on their site that allows the user to enter their aircraft loan amount, annual interest rate, and the number of years and then prompting the user to push the calculate now button, the monthly payment is calculated.
In Dorr's website, they caution that the calculator is only for estimation purposes and that brings up a good point. Before you use any of these online calculators, be sure to read the terms and conditions of use.
Van Bortel Aircraft Inc
Aero Trader is an online marketplace to post airplanes and other aircraft for sale. They also have a very simplified aircraft loan calculator that offers to calculate a users loan payment if the user enters the interest rate, loan term in years, and the amount of the loan.
This aircraft loan calculator is a division of the Red River State Bank. They currently offer a loan calculator that lest the user enter number of monthly payments, interest rate, and principal amount of the loan.
Based on this information, the calculator offers a calculated monthly payment. We may be biased, but we really like our aircraft loan calculator. This aircraft loan calculator requires the user to enter their loan amount, loan term in years, and interest rate in order to calculate their monthly payment.
If you or somebody you know is looking for aircraft loan calculators then this is a great article to send them. Most of these calculators are very simple to use. For something a little more detailed, we would recommend either using our aircraft loan calculator or AOPA's aircraft loan calculator to calculator a loan payment.
Dorr Aviation Credit Corporation Llc
Each of these companies may be a great place to find aircraft financing as well. Lastly, don't forget to check out the charts and graphs by clicking the buttons just above the amortization table. The charts graph the loan balance, the principal and interest, and the aircraft value during the life of the loan.
In addition to calculating the monthly payment an entire amortization table will populate with a loan schedule dividing payments into principal and interest. In addition, the user is able to enter an extra monthly payment in the extra monthly payment field and the amortization schedule automatically updates with this information.
Right above the amortization table, there are 4 large numbers. These numbers give the user totals in order to avoid have to scroll all the way to the bottom of the table. For those who are thinking of purchasing an airplane, helicopter or some other type of aircraft, it is possible that they might want to finance the purchase.
With interest rates at all time lows, it makes sense for some to borrow the money so that their other money can earn higher rates. This is especially true if an aircraft buyer opts for a floating rate loan tied to an interest rate market like the LIBOR...these floating rate interest rates tend to be a bit lower than a fixed rate interest loan.
Aero Trader
“Since this was my first plane purchase, I had no idea how the process worked or who to call. A friend recommended Dorr and it was the one and only phone call I really had to make.
The staff at Dorr walked me through step-by-step and made buying a pleasant and simple experience. Highly recommend that anyone considering a plane call Dorr first.” Kyle M. | Grumman Tiger owner They also have required down payments based on the type of aircraft a person selects.
A person can select Kits, light sport, piston single, piston twin, turboprop and turbine, helicopter, warbird and antiques and the calculator will adjust to show the minimum down payment required for the type of air plane.
That said, aircraft calculators won't be able to model a floating rate loan as that would require the calculator to know what interest rates will be in the future...and there's nobody that knows that. So each of these calculators are fixed interest rate calculators but they still help the person buying the aircraft estimate payments on a loan if not for the entire loan, then at least the beginning of it.
Iq Calculators - Aircraft Loan Calculator
AOPA Finance provides an aircraft loan calculator to their site vistors. Because AOPA is an aircraft lender themselves, this has allowed them to incorporate actual interest rates and loan length/terms into their calculator based on the aircraft type.
This is a really cool feature.
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