How To Buy An Airplane

How To Buy An Airplane

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An airworthiness certificate usually is transferred with an airplane when it is sold, but the certificate alone does not fulfill the regulatory requirement. A buyer must ensure that the airworthiness certificate is, as the regulation specifies, current.

At the beginning of this journey, just the thought of owning an airplane seemed to be something other people did, certainly not me. I had an instructor who told me being a pilot is one thing, buying a plane is another, and owning a plane is still another. True words. Having a pilot certificate does not prepare you to buy an airplane.

One of the first steps in buying an airplane is money. The plane I bought, a 1979 Cessna 172N, new would cost around $400,000-plus. I paid $65,000 for mine. It had less than 3,000 hours and approximately 1,100 hours on the engine.

Great family airplanes run the gamut in terms of complexity, cost, capability and demands, from Skylanes, which can keep a family of four happily traveling from car seats to college, to King Airs, which can theoretically accommodate the grandkids at some point down the line.

Buying an airplane can be a daunting task, but if you have a plan and follow it, the process can be a lot less intimidating. With that goal in mind, here are 20 tips for buying an airplane that will help you go from dreaming to owning.

2 DECIDE ON NEW OR USED. Though the initial price of a new airplane may seem to make buying used a better choice, think again. Buying new allows you to pay lower interest rates on your purchase (rates usually are subsidized by the manufacturer), finance the airplane for a longer time, and enjoy possible tax benefits. New-airplane warranties allow you to calculate maintenance costs precisely and give you peace of mind for the first few years of ownership. Loans for new airplanes usually are easier to qualify for, and down payments typically are lower than for a used airplane. You may be surprised to find that, in some cases, buying new may make more sense than buying used.

Few of us can afford to buy an airplane with cash. Even if we could, there are tax and other benefits we can realize by financing the purchase instead. The problem is that few airplane buyers understand the nuances of aircraft financing, let alone the process itself.

Where To BeginEvery lender we spoke with recommended that buyers get prequalified before shopping for an airplane. Being preapproved gives buyers the ability to be flexible and act quickly on a good deal when it comes along. Prequalifying usually is good for 90 days.

It's important to understand the timeline of an aircraft loan. Typically it takes 1-2business days to be approved by a lender once we have submitted your completedapplication. From there, it will take another 5-7 business days to close the loan. Ifyou have a complicated financial package, or more than one partner purchasing theairplane with you, it may take a little longer. Please plan accordingly so you don't getyourself into a stressful situation with the seller. Also, wait to make any travel plansto pick up the airplane until your lender has confirmed the closing date.

These binding legal documents typically set the sales price and conditions including things like the amount of time the buyer has to complete a pre-buy inspection, who pays for what, terms of a deposit and who pays to move the airplane. Most lenders will require an executed purchase and sales agreement in order to fully understand the transaction.

Airplanes made by companies such as Cessna, Piper, Cirrus, Beechcraft, and others are certificated airplanes. This means that they were built according to an FAA-approved type certificate that describes their design and what equipment they may have installed. They are built in factories that hold FAA-approved production certificates that say how the planes are to be built. The maintenance and repair of these planes is governed by approved maintenance and repair manuals that all mechanics are expected to follow. In other words, certificated airplanes are designed, built, and maintained according to specifications and procedures that the FAA has reviewed and approved. All of these planes, as long as they follow the FAA rules that apply to them, may hold standard airworthiness certificates.

Each year someone must attest to the safe condition of an E/A-B airplane. The original builder typically gets a repairman certificate from the FAA after completing the final signoff of his or her project. That allows the builder to do the yearly condition inspection on that airplane only. If no one holds a repairman certificate for that plane, the condition inspection must be performed by a licensed A&P mechanic. Of course, once a builder sells his or her plane, he or she is unlikely to want to do future condition inspections, so that means you, as a non-builder owner, will need to hire an A&P mechanic once a year. This is an important way in which ELSA rules differ from E/A-B.

When a certificated airplane has something go wrong with it that results in an accident, there is usually someone to sue, even if the original airplane manufacturer is protected by the 18-year statute of limitations. There are component manufacturers, licensed mechanics, repair stations and such who all have potential liability and may be forced to pay out claims that will benefit you, your family, and heirs in case you are injured or killed. With an experimental airplane you are most unlikely to benefit from such an award, because litigants have been notably unsuccessful in winning lawsuits against kit or component manufacturers in such cases, let alone amateur builders. This has allowed experimental aviation to flourish unimpeded by ruinous litigation, but it does place the burden of providing for yourself and your family squarely back on you. This is something to consider before you get injured or worse and wonder who is going to pay for whatever went wrong.

If you are already familiar with working on cars or motorcycles, you may have many of the tools you will need to work on an airplane. If you work on electronics or computers, you will find working on modern avionics not all that much different. In other words, for many people working on your own plane will not be that difficult to master. And even those less experienced can gain the knowledge over time with training and a helping hand from their fellow E/A-B owners. Many EAA chapters have people who are glad to help a newcomer. In any case, the money saved by doing your own work can be substantial.

If you are serious about buying a used E/A-B airplane, you simply must attend AirVenture. In no other place is so much information available and are so many different E/A-B airplanes present for your viewing. As an added bonus, many of these planes are available for sale.

With so many flights grounded thanks to the COVID-19 pandemic, surplus airplane meals and snacks have become available to buy. If you're missing your favourite on-board treats, you can now order them to enjoy at home, while also helping the companies behind them to stay in business.

The inflight caterer owned by the Indonesian carrier, Garuda Indonesia, has been selling airplane meals online in a promotion called Fly with Meals. They are served with a tray, plastic cutlery and sides. so you can recreate an authentic inflight experience.

One way to get more out of your flying budget is to get involved in hands-on airplane maintenance. Federal Aviation Regulations (FAR) permit owners to perform and sign off a number of preventive maintenance (PM) tasks on their own aircraft. Preventive maintenance includes changing the engine oil and filter, changing landing-gear tires, greasing wheel bearings, changing landing light bulbs and navigation light bulbs, and lubricating the airframe. Less obvious preventative maintenance tasks include changing side windows, servicing landing gear shock struts with oil, air, or both, makingsimple fabric repairs, patching fairings, cowlings and cover plates, and repairing landing-light and navigation-light wiring.

When travel day consists of multiple flights, there is a higher risk that luggage will be unintentionally loaded onto the wrong airplane. If the baggage handler does not read the tag carefully, the bag is at risk of being loaded onto the wrong plane.

We do not sell airplane parts or complete airframes. If you are interested in purchasing airplane parts or airframes, visit the following page as a starting point for your search ... Airplane Reclamation and Parts Links

Hangaring corporate aircraft is another matter entirely. First and foremost, corporate aircraft are far too expensive to ever consider leaving exposed to the elements. It is one thing to leave a tired old Cessna 150 unsheltered; it is a very different matter when corporate aircraft on the low end of the spectrum will be well over half a million dollars (a rather conservative estimate). Corporate aircraft must be ready to operate at all times, and generally operate at a much higher operational tempo than pleasure aircraft. The expectation is that corporate aircraft are a tool and will provide a definite return on investment. The expectation is that prime user will be able to get on his airplane short notice and be taken wherever they must go. Corporate hangars generally serve as the maintenance hub as well, so ample space must be provided for the aircraft as well as necessary ground support equipment.

A significant advantage to consider in building a hangar is that you get to build it to the exact specifications which are perfectly tailored to your operation. If you have a fleet of identical aircraft, it can be built to optimize their utilization. If your fleet is mixed, it can be designed to move aircraft in and out depending on usage of each aircraft. A hangar can be built with dedicated maintenance space, and operation support space allocated to the specific function. When renting hangar space, the end user is truly subservient to the owner and his needs. The additional airplane hangar costs may be absolutely worthwhile to build the exact facility you need if you are losing money due to missed or limited utilization because the space available for rental was not conducive to your needs. 59ce067264

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