Buying your own aircraft is unbelievably exciting yet daunting. The thought of owning your own plane promises fun times ahead – but the first few stages are crucial in ensuring a smooth-sailing journey.
Not sure what steps to take for a successful purchase? Read on!
Set a Realistic Budget and Stick To It!
Source: www.southeusummit.com
One of the first things to consider is deciding if you want to buy a new or used aircraft. This then helps you set a budget that won’t be unrealistically low (or high). Bear in mind that unplanned expenses are bound to arise along the way, so always leave room for the unexpected. Apart from the cost of the aircraft itself, your budget should take into account the cost of parts, maintenance, fuel, and hangar rental.
Don’t forget to do extensive research into the spare parts market for your desired aircraft type. Some types have parts that are more difficult to acquire than others. You do not want to waste time and money sourcing for spare parts when the need arises. And you definitely do not want to risk having your aircraft grounded!
It also helps to obtain pre-approved financing, early on in your aircraft purchase journey.
- What Do You Actually Need?
Source: www.tomarkaero.com
Do you really need speed? What sort of range will you require? Do you actually need that fancy paint job? Is the latest tech really that important?
Many people make the mistake of purchasing an aircraft impulsively – despite it being an expensive purchase – without analysing their requirements thoroughly.
While it may seem like a dream to purchase your very own aircraft, never let that cloud your judgement. Know exactly what you need, not what you want – this can save you from buying the wrong aircraft type for your usage. Always think this step through and through until you’re sure of what you really need.
- Take a test flight – and monitor its performance
Source: www.lightaircraftassociation.co.uk
On a demo flight, pay careful attention to the performance of your prospective aircraft. Plane&Pilot Mag suggests that, ‘When the demo pilot is demonstrating the great climb performance, note the power settings and fuel flow: Maybe that climb rate will cost you in engine life or fuel. Compare what you see in the cockpit to the POH or manufacturer’s published numbers. Pay attention to cruise power settings and what speeds you’re seeing in the airplane that day. Timed speed runs between two or more checkpoints are very useful. Watch EGTs and fuel flows’. You do not want to be falling into the salesperson’s trap of convincing you to buy the aircraft!
- Inspect the documents
Source: ninjateacher.com
Some crucial documents you should look at are the maintenance logs and airworthiness certificate. Make sure there are no unknown damages or recurring maintenance issues. Check that the aircraft has always been maintained properly and kept in good condition. When you purchase an aircraft, ensure that the aircraft is still airworthy. If unsure, contact your national aviation authority office. The airworthiness certificate will transfer along with the sale and you will now be responsible for the aircraft’s airworthiness.
Pre-purchase inspection
Source: www.avstarair.com
Finally, after you’ve looked at the relevant documents and are satisfied with them, bring a trusted aircraft technician to perform a thorough inspection on the aircraft. Request a written report on the condition of the aircraft’s components to keep for future reference.
Once you’ve got these important steps out of the way, your journey to owning an aircraft is ready to begin! All the best!
For information on aircraft maintenance and aviation consultancy services, head over to www.dviation.com!