Research should be done before you buy a plane just as you would any large, important purchase. Make sure you keep the following points in mind in order to make an educated decision on your first, or next, small aircraft purchase.
Where to find an airplane?
Many people tend to use online sites such as Controller and Trade-A-Plane to list their aircraft for sale. You may also want to utilize your own aircraft broker or visit a local airport.
What is the cost of an airplane?
Cost of ownership is much more than just a loan payment. Be sure to include hangar/tie-down fees, insurance payments, maintenance reserves for overhauls and inspections, fuel and oil costs, and more. We fly is happy to help you calculate the cost of ownership your potential aircraft.
What aircraft fits your mission (typical flight distances, speeds, passengers, weight, pilot experience, budget, and cost of ownership?). Don’t get an aircraft that is too much for you!
Apply for financing
We can provide pre-approvals which can help you know exactly how much aircraft you can buy.
Get a quote on insurance
Many factors can come into play when determining your qualification for insurance. An insurance agent can help you navigate through all of your options.
Take a test flight
This will help you determine the type of aircraft is right for you.
Review aircraft logbooks.
It’s a good idea to find out about the plane’s history and past records prior to purchase.
Review appraisal of aircraft (online or professional)
Online appraisals can be done complimentary through We fly.
Get a pre-purchase inspection
Find out if there is anything wrong with the plane before you buy it. It’s a good idea to get an inspection completed by an Aircraft and Powerplant (A&P) maintenance technician.
Sign a purchase agreement
A purchase agreement is a contract between you and the seller and should be signed by both parties, indicating the terms of the sale.
Close loan with financing company
Let us help you check this off your list!