How To Buy A Used Airplane
How to Buy a Used Airplane
Before you take off into the beckoning skies you go over your aircraft with a checklist. It’s a safety precaution that we wouldn’t ever want to go without. The same is true for buying an airplane, particularly a used one. Like buying a car, the experience can be enjoyable or a complete headache. But with some planning you can take the headache out of finding the aircraft that matches your needs and skill level.
Choose the right airplane for you.Determine what your needs are now, not what you expect them to be in the future. Are you going to use the airplane primarily for family trips, or will it be used for business? Also consider your budget.
- What you pay for an aircraft is only part of the cost of ownership. Don’t forget to include the cost of operation and maintenance. Too many pilots don’t have a definite amount set for what they are willing to spend.
- As a result, they keep increasing what they are willing to spend as they come across airplanes that are just beyond their financial reach.
Shop around for the right aircraft.Once you have picked out a specific aircraft type that will meet your needs and budget, start comparing individual craft. Here are some factors that can affect your buying decision.
- Total time: The lower total time the more expensive the aircraft. Aircraft Blue Book and the Aircraft Value Reference, Vref, have formulas to help you determine how total time affects the price of an aircraft. Engine time: Aircraft engines have a life expectancy known as TBO (Time Before Overhaul) established by the manufacturer. This number reflects when the average engine will need an overhaul. Exterior/Interior condition: What is the overall condition of the plane? Look for things like corrosion or the condition of the seats. Avionics: The condition of the avionics can make a difference in the value of a plane. Aircraft Blue Book and Vref have formulas for calculating the value of avionics.
Get the specifics on the plane you pick.Knowing the history of an aircraft is important. Get as much information related to the aircraft as possible. This will include specifications, maintenance history, damage, etc. Aircraft with damage may still be a good craft, but you might want to consult a broker to help you determine the true value.
Take a test flight.Leave the window open and listen as you crank up the engine. Check the gauges during takeoff and get a feel for the aircraft in flight. Make sure to check that all the avionics are functioning properly.
Put down a deposit.Once you have chosen the airplane you want you will need to put down a deposit to take it off the market. This can be done through an escrow service if you are not comfortable with handing your money over directly to the seller. You should be agreeable to the terms of the sale and make sure your money is refundable in the event the deal falls apart.
Perform a pre-purchase inspection.This is the responsibility of the buyer and a good investment. Hire a trusted mechanic to give the aircraft a thorough inspection. Provide the mechanic with a list of the craft’s specifications along with a pre-purchase inspection checklist (some financing companies require this).
Order a title search.Make certain there are no old liens on the aircraft before you purchase it.
Get insurance.Shop around for a good insurance policy. Your experience level as a pilot plays a major role in the type of aircraft you can get insurance for. Speaking with an insurance agent ahead of time will let you know if you are wasting your time looking at aircraft you won’t be able to get insured.
Make your final payment and schedule a pickup of your plane.Finally, enjoy your new aircraft.
QuestionHow much does an airplane cost?Top AnswererA used Cessna 172 can be found for ,000 USD to well over 0,000. New ones start for over 0,000.Thanks!
QuestionHow do I order a title search on an airplane?Top AnswererYou should be able do a title search with the FAA. Try the FAA website.Thanks!
Video: The Aviators 2: Buying a Used Aircraft and Making It Your Own
Rupert Grint has a very good reason as to why he almost quit acting after Harry Potter
Keeping up with the kardashians
G-Steel: The G-Shock For Grown-Ups
More on Britains missteps under Article 50
Chalayan Resort 2019 Collection
Chef Vikkis Vanilla Panna Cotta with Balsamic Strawberries
How to Treat Hyperpigmentation
How to Kill a Cricket thats Loose in Your House
How to Use Online Banking
How to Deal With Nasty People
Mozart as medicine:The health benefits of music
The Only 4 Weight Loss Rules Youll Ever Need