Aircraft Buyers Checklist

There is a lot to consider when purchasing an aircraft. Here is an aircraft buyers checklist to help get you started on your path to owning an airplane or helicopter:

1. Determine your requirements:

  - Define the purpose of the aircraft (personal, business, recreational, etc.).

  - Determine the desired range, seating capacity, cargo capacity, and other performance specifications needed.

2. Set a budget:

  - Determine your budget for purchasing the aircraft.

  - Consider ongoing costs such as insurance, maintenance, fuel, and storage.

3. Research aircraft models:

  - Conduct thorough research on different aircraft models that meet your requirements.

  - Consider factors like performance, reliability, availability of spare parts, and maintenance costs.

4. Engage a trusted aircraft broker or consultant:

  - Seek assistance from an experienced aircraft broker or consultant who can guide you through the buying process.

  - They can help you with market research, negotiations, and paperwork.

5. Perform a pre-purchase inspection:

  - Hire a professional aircraft mechanic to conduct a comprehensive pre-purchase inspection.

  - Inspect the airframe, engines, avionics, controls, landing gear, and other systems for any issues or damage.

6. Review maintenance records:

  - Obtain and review the complete maintenance records of the aircraft.

  - Check for regular maintenance, inspections, and any major repairs or modifications.

7. Verify legal documentation:

  - Verify that the aircraft has all necessary legal documentation, including registration, airworthiness certificates, and logbooks.

8. Conduct a test flight:

  - Arrange a test flight with a qualified pilot or flight instructor.

  - Evaluate the aircraft's handling, performance, and avionics during the flight.

9. Consider insurance:

  - Research and obtain insurance quotes for the aircraft.

  - Determine the coverage options and costs for hull insurance, liability insurance, and other applicable policies.

10. Evaluate financing options:

   - If necessary, explore financing options for purchasing the aircraft.

   - Research loan terms, interest rates, and repayment options from reputable lenders.

11. Review ownership costs:

   - Estimate the ongoing costs associated with owning the aircraft, such as fuel, hangar/storage fees, insurance, maintenance, and inspections.

12. Consult an aviation attorney:

   - Seek advice from an aviation attorney to review the purchase agreement and ensure all legal aspects are properly addressed.

13. Complete the purchase transaction:

   - Negotiate the purchase price and finalize the transaction with the seller or their representative.

   - Ensure that all necessary legal documents are signed and funds are transferred securely.

14. Transfer ownership and registration:

   - Follow the procedures to transfer the ownership and registration of the aircraft with the appropriate aviation authorities.

15. Plan for ongoing maintenance and operation:

   - Develop a maintenance schedule and operational plan to ensure the aircraft remains airworthy and meets regulatory requirements.

Remember, buying an aircraft is a significant investment, and it's crucial to conduct thorough research, inspections, and consultations with professionals to make an informed decision.