Many pilots wonder why a car loan can be approved in as little as 20 minutes, but it can take days — or even longer — to get approved for a loan to buy an airplane.
A new post from Adam Meredith, president of AOPA Aviation Finance Co., explains why, noting that the underwriting process for an airplane loan is more like that for a house than it is for a car. Read his full post here.
Because there a higher (no pun intended) “risK” ?