subject: Aviation Classifieds - Where To Buy Your Airplane [print this page] You are extremely excitedYou are extremely excited. You decided to buy an airplane. You are ready now that you took those lessons on how to fly. This is the moment to find out how to buy an airplane. There is a list of different things to consider. A new one or a used one may be the place to begin.
Whatever you purchase you can start to shop only after making certain decisions. First, you decide on what you intend to use it for and very importantly how much you can spend. Your next decision is are you going to be flying over extended distances with many passengers? Where do you plan on landing and what is your basic plan for the next 5 years for using the aircraft?
New aircraft saves you money in interest charges. Most of us are not wealthy enough to pay cash in buying our new plane. Interest rates on new aircraft are lower than if you are financing a used one because the company usually has financing programs. Maintenance costs will also be lower. There are also some tax savings that should be considered.
No matter if the plane is new or used it is important to establish a budget of what you can possibly spend. The down payment and the cost of the loan including principal and interest must be considered. Insurance payments, storage costs, annual inspections, fuel, maintenance, and the airport fees are important to calculate. The total for all these costs, including the down payment in the first year, can be quite an expense.
The decision you make in choosing the aircraft is not only dependent on your destinations or the number of passengers you would like to carry. Your flying skills are extremely important in your choice. Finding the best airplane to match the abilities acquired will lead to a safe choice for yourself and your passengers.
Where do you find a plane? There are a few places to investigate. If you are looking for used, the local flying school may have a board with aircraft for sale, you can check in classified in magazine or newspapers, or you can investigate your choices on line. If you are planning to purchase a new one then you will go to the manufacturers of the one you want.
And the last step is here. You have chosen the model you would like to purchase and there is one you found of great interest. Get on the phone and ask pertinent questions. Then take a physical look at the plane and take a test flight. This is the time for the mechanic to come and examine all parts and after this step a title search needs to be done. The only thing left is to pay!
