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"Considering to buy a used aircraft?" - August 30, 2000 CONSIDERING
TO
BUY A USED AIRCRAFT? Assume
seller could not afford the maintenance and repairs, you may be assuming
his neglect. Only
the purchase price is fixed, all else is a BIG surprise. Get
an insurance quote before you buy -- premiums reflect the safety record
and price of repairs -- they have already been through it all! Be
sure of product support for your selection before you buy.
Waiting months on the ground for a simple part (eg. Gas cap) can
be exasperating. Consider
your selected model's track record pertaining to AD notes, malfunctions,
safety record and cost of ownership.
Some have even been rejected by the Federal Government as being
too expensive to operate. Be
concerned with the residual service life of all components.
A $10,000 overhaul does not increase the value of the aircraft
$10,000 -- only about $5000. Blue
Book prices are for average aircraft.
Average used aircraft are like average used cars, BEAT! The
instrument panel may be full -- yes, of worn out, obsolete,
un-repairable units. Be
very suspicious of new interiors and fresh paint -- that's the only way
they can sell old dead dogs. A
very simple aircraft will really cost a half-week salary per month just
sitting there. An inactive
aircraft has more deterioration and malfunctions than one in daily
service. Co-owner/Partnerships/Flying
Clubs can be bait; it you can't handle HIS share, stay out. Inspections,
maintenance, repairs are expensive and time consuming.
Double your mechanic's estimate to be safe. Get
a title search, find out if it is a salvage aircraft before committing,
search out any liens. You
want it to be really yours! All
Annual Inspections are not the same -- some are little more than a
Pre-flight. Feds don't do
much until after the crash. Get
a pre-purchase inspection by a full-time professional aircraft
technician who really knows your selected bird.
Heed his report and expect more surprises.
If you can convince the seller into paying half the annual and
associated repairs at your maintenance facility, do so. Be
prepared to pay substantially extra for a good bird, it will save you
lots of grief. Prize
your new possession and take good care of it, and have fun FLYING. March 14, 1987, revised August 28, 2000. Roger A. Stern, Little Flyers
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