Finance Your Cirrus SR20

The Cirrus SR20 is a modern composite four-seater that combines performance, capability, and value. Whether you're upgrading your aircraft or making your first purchase, we provide specialized Cirrus SR20 financing solutions with competitive rates and flexible terms tailored to your needs.

Cirrus SR20 Specifications & Performance

SpecificationDetails
CategoryPiston Single-Engine
Price Range$250,000 - $650,000
Typical Used Price$425,000
EngineContinental IO-390 (215 hp)
Cruise Speed155 knots
Range800 nm
Seats4
Useful Load1,100 lbs
Service Ceiling17,500 ft

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Why Finance a Cirrus SR20?

  • CAPS Parachute System - Whole-aircraft emergency parachute standard
  • Composite Construction - Modern carbon fiber airframe
  • Garmin Perspective+ - Advanced glass cockpit avionics
  • Side Stick Control - Modern ergonomic cockpit design
  • Strong Safety Record - CAPS system proven in real-world scenarios

Cirrus SR20 Financing Options

Competitive Interest Rates

  • New Cirrus SR20: Starting at 6.5% APR
  • Late-model used (2010+): Rates from 6.75% APR
  • Older models: Rates from 7.5% APR
  • Terms up to 20 years available for qualified buyers

Flexible Down Payment Options

  • As low as 15-20% down for qualified buyers
  • Higher down payments may qualify for better rates
  • Trade-in equity can be applied to down payment
  • Refinance options available for existing owners

Frequently Asked Questions - Cirrus SR20 Financing

What credit score do I need to finance a Cirrus SR20?

Lenders typically require a minimum credit score of 680-700 for Cirrus SR20 financing. Borrowers with scores above 720 receive the best rates. The Cirrus SR20's strong market demand helps secure favorable financing terms for qualified borrowers.

How much down payment is required for a Cirrus SR20?

Down payments typically range from 15-20% depending on aircraft age, condition, and buyer qualifications. Well-maintained aircraft with modern avionics may qualify for lower down payments. Your credit profile and experience also influence requirements.

What loan terms are available for Cirrus SR20 financing?

Typical loan terms range from 15-20 years for newer models and 12-15 years for older aircraft. Amortization can extend to 20 years with flexible balloon payment structures. Your final term depends on aircraft age, value, and your financial profile.

What insurance is required for a financed Cirrus SR20?

Lenders require liability coverage (minimum $1M) and hull insurance covering the full loan amount. Annual premiums range from $1,800-$5,000 depending on pilot experience, hull value, and whether the aircraft is used for business or personal purposes. Insurance costs are generally reasonable for this aircraft type.

How quickly can I get approved for Cirrus SR20 financing?

Pre-qualification typically takes 24-48 hours with basic information. Full underwriting requires 7-14 business days with complete documentation including tax returns, financial statements, and aircraft details. Closing can occur within 3-4 weeks of application, sometimes faster for experienced borrowers with clean credit.

Does the CAPS parachute system affect Cirrus SR20 financing?

The CAPS (Cirrus Airframe Parachute System) is viewed favorably by both lenders and insurance companies due to its proven safety record. Insurance premiums may be lower compared to similar aircraft without parachute systems. CAPS must be regularly inspected and repacked per manufacturer schedules.

Can I include avionics upgrades in my Cirrus SR20 financing?

Yes, avionics upgrades like Garmin G500/G600/G3X installations can often be rolled into your purchase loan or accomplished through a refinance. Modern glass cockpits typically add value exceeding their cost, making them attractive to both lenders and buyers. Lenders prefer certified installations with proper documentation.

What happens if I want to upgrade to a different aircraft later?

You can sell your Cirrus SR20 at any time and use equity toward your next aircraft. The Cirrus SR20's strong resale values often mean you build equity quickly, especially if you maintain it well and make strategic improvements. Some lenders offer streamlined refinancing or trade-up programs.

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