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Aircraft loan calculator
See the loan payment, then add what it costs to keep and fly the airplane.
Formula
Payment = P × r ÷ (1 − (1 + r)^−n), with P = price − down, r = APR ÷ 12, n = months. True monthly budget = payment + (fixed + hourly × hours) ÷ 12.
The 15% down, 7.75% APR and 15-year term are assumptions from a published Cherokee loan example; aircraft loans commonly require 10–20% down, and smaller loans often have shorter terms. Get a lender quote. Sales or use tax, title search and pre-buy inspection are extra.
Sources
- PistonAircraftLoans: Piper Cherokee cost by model (140: 7.5 gph, engine reserve $17/hr, ~$184/hr at 100 h; 180: 9.5 gph, ~$205/hr; loan example 15% down at 7.75%) and HangarMath PA-28-140 (O-320 overhaul $26,000–$35,000, 2,000 h TBO)
- AOPA: Hypothetical operating cost calculation (1975 Cessna 172M: insurance $1,200/yr, hangar $250/mo, 8 gph, maintenance $25/hr at 100 h or $13.34/hr at 300 h, engine reserve $17/hr; total $225/hr at 100 h, $108/hr at 300 h; own vs rent break-even just under 100 h/yr vs a $135/hr wet rental)
Common questions
What is a typical aircraft loan term?
Published examples use 10 to 20 years, with shorter terms common for loans under about $75,000. Your lender sets the term based on the airplane's age and the loan size.
Does the payment include insurance?
No. Lenders usually require hull insurance naming them. Add insurance and other costs in the ownership fields to see the full monthly budget.