Owning and Buying an Aircraft: Advice

Like all aircraft enthusiasts, you have a pretty good idea of what you want to move into next. But it’s always a good idea to consult with the experts before making any major investment. One provider that many of our Private Aircraft Owners have used is Apex Aircraft Sales Ltd to help with their purchase.

Some considerations:

1. Mission – #of passengers, range, speed
2. Start Slow – expenses, maintenance and insurance will all be less
3. If it’s your first plane learn slowly about your needs and costs
4. Budget – capital purchase and ongoing expenses

Shopping

1. Online? Pitfalls…
2. Brokers – expertise, Knowledge, appraisals, intermediary, closing paperwork issues

Cardinal Rules

1. Always do a written offer and deposit (escrow, broker)
2. Always do a Pre-Purchase Inspection
3. Do a lien check
4. Make sure all the closing paperwork is in order

Operating Costs

Fixed Costs
– Insurance,
– Hangar

Variable Costs
– Maintenance,
– Fuel/oil,
– Capital cost/interest,
– Reserves for engine,
– Prop,
– Radios

Ownership Options
– Fractional,
– Partnerships,
– Block Time