It’s just like buying a car, right? Mark thought, ignorantly, as he skipped the formal broker and went straight to the owner.
(insurance, hangar, annuals) Whether you should consider a partnership to save money
"Buddy," the mechanic said, wiping his hands, "you didn’t do a pre-buy inspection, did you?"."I...I wanted to save money," Mark admitted."That 1970-something Lycoming engine is way over TBO. The prop is damaged, and there’s a severe internal oil leak. This isn't a $35k plane. It’s a $15k plane with a $20k bill attached". buy used planes
Mark finally had his Private Pilot License and a burning desire to stop renting. The local flight school’s Cessna 172 cost $165 an hour, a price that made his stomach turn every time he booked it. His uncle, a seasoned Part 121 captain, offered sound advice: "Buy a bare-bones Cherokee 140. It’s a 50-year-old plane, but it’s paid for. You’ll save thousands building hours, then sell it for what you paid".
Mark paid cash, closed the deal, and decided to fly her home to Florida himself. It’s just like buying a car, right
Never fall in love with a used airplane before the pre-buy inspection. If you'd like to dive deeper, I can tell you:
Two hours into the flight, the oil pressure gauge started to drop—slowly, then abruptly. The engine made a sickening clattering noise. Panic set in. He declared an emergency, his heart pounding in his throat, and landed at a small, uncontrolled field in Kansas, grateful to be alive but with a suddenly very quiet plane. An mechanic from the local FBO took a look. The prop is damaged, and there’s a severe
What’s your biggest worry when it comes to buying a plane? Tips on Buying Used Aircraft - AOPA