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How to Purchase a Plane

Many private pilots own their own plane so they can experience the excitement of flying whenever they choose. A gently used, fairly new single-engine plane can cost over $100,000, so it’s important that you do everything you can to ensure you are getting what you pay for. Overlook any little thing and you could get stuck with a poor plane and a big mechanic’s bill.

Instructions

- 1
  Buy locally because you may already be familiar with the plane. It’s always best to kick the tires and take a look at the plane in person, and of course, fly it if you get the chance.
- 2
  Insist on a current annual inspection and make certain that all airworthiness directives (ADs) have been adhered to. Ask to see the log books.
- 3
  Set the terms for the sale out in a letter, and keep a signed copy in your files. The letter should include an agreement to have the plane surveyed by a licensed mechanic or inspector of your choice. The sale of the airplane should be contingent upon successful completion of the survey. The survey will reveal any prior problems, prop strikes, accidents of record and the plane’s history of annuals.
- 4
  Decide in advance the terms for delivery of and final payment for the plane. Determine who will deliver it, who will pay the costs associated with delivery, and any other delivery issues. Insist on completing the sale and taking delivery in your home state. If you have any legal problems with the transaction down the road, you can ask your home courts to resolve the issue.
- 5
  Be aware that an unscrupulous owner may hire an unscrupulous mechanic who may just sign off on the annual inspection report and compliance with AD notices. An independent surveyor will tell you the real condition of the airplane.

Aviation