Flight Training - March/April 2022 - 25

MEMBERSHIP
ADDRESS CHANGE?
Send your new address and AOPA
membership number to AOPA:
aopa.org/apps/myaopamembership
421 Aviation Way
Frederick, Maryland 21701-4798
TOLL-FREE PILOT
INFORMATION CENTER
800-USA-AOPA (872-2672)
pilotassist@aopa.org
pic.aopa.org
AOPA AIR SAFETY INSTITUTE
800-638-3101
airsafetyinstitute.org
AOPA AIRCRAFT FINANCING
800-627-5263
aopafinance.org
AOPA PERSONAL INSURANCE
800-USA-AOPA (872-2672)
aopa.org/membership/personal
AOPA CREDIT CARD PROGRAM
Top off your airplane and wallet
with the best card for pilots.
877-787-3171
aopa.org/creditcard
AOPA FOUNDATION
800-955-9115
aopafoundation.org
AOPA PILOT PROTECTION SERVICES
800-USA-AOPA (872-2672)
aopa.org/pps
AOPA TRAVEL DISCOUNTS
aopa.org/cars
aopa.org/hotels
AOPA PILOT INFORMATION
CENTER HOURS
Do you have questions or need
information about an aviation topic?
Access the team of aviation experts in
our Pilot Information Center during our
convenient weekday hours. Call
800-USA-AOPA (872-2672) Monday
through Friday, 8:30 a.m. until
6 p.m. Eastern time, with your
questions and our staff will be
happy to assist you.
CAN YOU DO IT?
FOUR STEPS TO BUYING YOUR FIRST AIRCRAFT
YOU JUST STARTED FLIGHT TRAINING, BUT IT SEEMS LIKE A GOOD IDEA TO BUY YOUR
own aircraft. Sound crazy? Purchasing an aircraft to train in can be a daunting
process, but AOPA Aviation Finance provides you with the best financing options
for your needs and helps you through the process to make it as easy as possible.
AOPA's expertise in aviation and commitment to its members are why AOPA Aviation
Finance sees more aviation finance requests than any other lender or broker.
Understand your financial picture
At a minimum, you'll need a 15 to 20 percent down payment, plus 18 months of
payments in liquid assets and a credit score of no less than 700 to be considered.
Set your budget
Just like buying a house, set your budget according to what works with your
financial situation before you get your heart set on an aircraft. Buying what you need is
important to keep in mind.
Organize your paperwork
Gather your tax returns, business financials, and personal net worth information;
finance needs it for your loan application. Are you an employee or a business owner?
The simpler your income documentation, the easier it will be to get a decision.
Review your timeline
It's important to understand the timeline of an aircraft loan. Typically, it takes one
Visit the website (aopa.org/
membership) to learn more about the
benefits of AOPA membership.
to two business days to be approved by a lender once your completed application is
submitted. From there, it will take another five to seven business days to close the loan.
If you have a complicated financial package, or more than one partner purchasing the
airplane with you, it may take a little longer. Also, wait to make any travel plans to pick
up the airplane until your lender has confirmed the closing date.
aopafinance.org 800-62-PLANE (75263)
FLIGHT TRAINING MARCH/APRIL 2022
25

http://www.aopa.org/apps/myaopamembership http://pic.aopa.org http://www.airsafetyinstitute.org http://www.aopafinance.org http://www.aopa.org/membership/personal http://www.aopa.org/creditcard http://www.aopafoundation.org http://www.aopa.org/pps http://www.aopa.org/cars http://www.aopa.org/hotels http://www.aopa.org/membership http://www.aopa.org/membership http://www.aopafinance.org

Flight Training - March/April 2022

Table of Contents for the Digital Edition of Flight Training - March/April 2022