Used Airplanes For Sale

Guide to Buying a Used Airplane

January 2nd, 2008 Posted in Used Airplanes

The buyer should consider several factors before buying a used airplane

1. Buy or Rent/Borrow

The aviation clubs or private organizations can offer you an airplane for rent on any day you prefer. The price of an inexpensive plane with a grass tie down might even cost you less.

Besides the financial aspect there are other trade-offs to consider. With rentals you can fly different planes and you don’t have to worry about the maintenance. With ownership you almost always have access to your plane plus you can control maintenance and upkeep.

However owning a plane gives you the pride of ownership, flexibility in flight times, and increased control over upkeep. It is up to you to decide which option suits you best?

2. Is It Affordable

The costs of buying an airplane include:

• A down payment
• Interest on a loan
• Insurance
• Storage
• The annual inspection
• Regular maintenance
• Taxes
• Fuel

You can to consder how much can you afford?

Finance: If you borrow the money from a bank, calculate the down payment and monthly installments to be paid to the bank based on current interest rates. If you are buying the airplane with your own money, then estimate the rate of interest you would get if you had not bought the plane.

Insurance: The liability and Hull are the two types of insurance available for an airplane. The liability saves your assets against claims arising from an accident involving the use of your plane. This maybe a compulsary requirement in your state. Hull insurance covers physical damage to your aircraft and is often required by lending organizations. Insurance may range from $500 to $2,500 per year for a small, inexpensive plane depending on the options chosen.

Storage: The options for storage range from a grass tie down to heater hangers.

Tie downs are cheaper but hangars provide protection from sun, precipitation, wind and wreckage. With Tie downs grass spots you often have to install your own anchors. There are several choices in hangars – the most common is the T-hangar. Planes are arranged in rows facing in alternating directions. Some hangars are two walls with a roof, providing limited protection from wind and wreckage. Some are heated but these cost more. Some are chaotic cramming in as many aircraft as possible. An additional cost may be ‘hangar rash’ when the tips of the wings of one aircraft brush against another. Prices vary based on the type of facilities and the location. Grass tie downs might range from $75/ month in a rural setting to $250/month in a more metropolitan area. Closed hangars range from $150/month to $600/month and up for a small plane. Check with your local airstrip for more specific rates.

Operations& Maintenance: The fees and taxes of airplanes varies depending on the usage. The maintenance charges including the annual inspection and other yearly maintenance costs may range from $1300 to $2500 for a small plane.

The other expenses can be estimated at up to $300 per year.

3. Your Purpose

Your interest in acrobatics, sightseeing, fun flying, short trips, or cross-country trips will be an important factor when choosing the best type and model for you.

Before you start shopping, defining exactly what you needs  will be. This can in selecting the plane that is right for you. How many passengers will you typically carry? How far will you fly? How fast do you need to get there? What type of airstrips will you land on? Will you be flying in congested airspace? Are there certain styles such as antiques and classics that you find more appealing? How will your needs change over the next 3-6 years?

Types:

Jets or Propellers: Jets are much faster, but are more expensive to buy and Operate.

New or Used: Used planes cost less than new planes, but may have more mechanical problems. This does not mean that used planes are unsafe. The average general airplane is over 20 years old.

Homebuilt or Popular: Homebuilt are often faster, lighter and cost less to operate. If you build it yourself, there is a lot of work in assembling it. You will also need a place to put it together.

Classics and Antiques – Older planes have stylistic appeal and are popular at air shows. Classic usually refers to planes build between 1945 and 1955. Antique usually refers to planes build before 1945.

4. Type of Plane

After deciding the model and the price range of your plane you can then start searching.

The key features to inspect on a plane when you go to look at it are:

Performance: What is the range? Manufacturers calculate the maximum distance the plane can fly at 75% power without refueling. Will the plane be able to land at your local airport? Standard airports have 3000 to 4000 feet runways. Local strips may be smaller.

Cruise: How fast do you need to travel? Cruise speed is measured as the speed at 75% power, and is usually expressed in statute miles per hour.

Number of Seats: How many seats will you need? Most planes can effectively carry fewer passengers and luggage than the number of seats they have.

Seating Configuration: What is your seating preference, Tandem or Side-by-side? Tandem may be faster due to narrower configuration and may give the pilot more visibility and legroom.

Construction: Low wing planes generally have better flight visibility for flying in crowded airspace; High-wing airplanes may be better for sightseeing.

Landing gear: Which type of gear do you prefer, Conventional or Tricycle Gear Landing gear – Conventional is more rugged and may have lower wind resistance, however a tricycle gear is less complex and may have lower maintenance costs.

Age – How old is the plane? Will you easily be able to find replacement parts?

Physical condition – Look for rust, cracked paint, and worn parts.

Engine – Note the manufacturer and size. Continental and Lycoming are the most common, and therefore the least expensive to find replacement parts. Also consider fuel consumption. Will you easily and cheaply be able to fill up with the right kind of fuel?

Gross – What is the capacity of the plane? It’s measured as the allowable total weight of the plane, passengers and cargo.

Useful Load – Similar to gross, the useful load measures carrying capacity. It’s the gross weight minus the weight of the empty plane.

Cost – How much will it cost you every year? Include purchase costs, storage costs, maintenance costs, and flight costs.