1.The first thing you should do when considering the purchase of a new or used aircraft is to decide what you need in an aircraft. What will you be using it for and do you need upgrades and expensive perks? Join a flying club that has the type of plane you are thinking of buying. Talk to other pilots who have the same aircraft and if possible, fly one like the one you are considering.
2.Have the aircraft inspected to be sure that you are getting what you are expecting. The last thing you want to do is spend your hard earned money on something that will only work for a short time or cost more to fix it than it’s worth.
3.You also want to verify that parts for the aircraft are available and technicians are able to work on the aircraft you are looking into buying.
4.Check into the cost of insurance on the aircraft you are thinking of buying.
5.Research the state and county laws regarding registration where your aircraft will be registered. Be sure that you know all of the paperwork that must be submitted once you decide to buy an aircraft.
6.Examine all records and engine logs carefully. Ask about all entries where outside damage was mentioned.
7.If you are a member of AOPA contact AOPA Aviation Finance Company, LLC questions and help with financing. Other organizations will probably offer help with financing questions as well, take advantage of your membership.
8.You want to know the important factors that affect the value of the aircraft
- Engine hours
- Installed equipment
- Airworthiness Directives
- Damage history
9.Ask questions! This is a major investment and we are talking about the safety of you and your family, so don’t be afraid to ask questions about any work that was done on the aircraft. Pay attention to all terminology in the repair logs.
10.Check into liens against the aircraft you are considering buying.
11.Fly the aircraft you are considering. Without a doubt, that is the best way to be sure you are comfortable with the aircraft and if it has all the power, accommodations and maneuverability you are looking for in an aircraft.
12.Make sure that all logbooks, records, certifications, FAA-approved flight manual, technical specs, placards and equipment list and part numbers are available and in order.
13.When you have finally decided to go ahead with the purchase, consider consulting a lawyer to be sure that your interests are protected. All agreements should be in writing.
14.Do not leave the registration of your paperwork to any other parties. Be sure that you file all paperwork in a timely manner.
15.Bring your new purchase to APG for inspections, certifications, maintenance and repairs. We care about your safety.