Business News

Aircraft Affordability Takes Off as Federal Interest Rates Drop

Lowered interest rates could be a boon for aircraft buyers.

Caleb Revill

Tuesday, October 15, 2024 at 11:34 AM ET

Verified

Edited By: tccjeremy

Lower interest rates typically means better payment plans on big purchases, aircrafts included. [Credit: iStock]

Key Takeaways:

Federal interest rates have decreased, making aircraft purchases more affordable for consumers.
The Federal Open Market Committee (FOMC) lowered the federal funds rate by 0.5% in September to combat inflation and support employment goals.
This reduction in interest rates can lead to better payment plans and potential monthly savings of hundreds of dollars for aircraft buyers.

See a mistake? Contact us.

With rates down from 2023’s inflation-fighting levels, consumers considering an aircraft purchase are in for a deal now that federal interest rates have decreased.

Why Are Rates Down?

The change in federal interest rates comes after the Federal Open Market Committee (FOMC) met with the Board of Governors of the Federal Reserve System in September to address inflation.

Caleb Revill

Caleb Revill is a journalist, writer and lifelong learner working as a Junior Writer for Firecrown. When he isn't tackling breaking news, Caleb is on the lookout for fascinating feature stories.