I Want an Airplane
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Here we are at the beginning of May and winter has finally released its firm grip and we can really focus on getting out there and enjoying our passion of flying.
I love May because it ushers in the air show and fly-in season for much of the Northern Hemisphere. From this point forth there will be a lot of folks burning AvGas from now until late fall.
So with that in mind, it might be time to think about abandoning the rental game and become a full-fledged airplane owner.
It may seem like a daunting task, but it’s really not rocket science. It comes down to a few simple questions and a little bit of homework.
Let’s walk through it.
The first and most important step is to know what you plan to do with the airplane. You need to really honest with yourself on this. Do you just fly locally or do you need a full-IFR cross country family wagon? Do you want to do aerobatics? Do love going fast or does low-n-slow sound more appealing?
Your budget will drive some of this decision-making. You might really want a fast XC machine, but if the budget won’t allow you might shift gears on what your likes are.
So with mission and budget settled, the fun part begins. This is the hunt for the machine that fits these two parameters.
I could spend hours (or days) looking through Trade-a-Plane or Barnstormers.com. As you narrow in on what you want, you need to get forensic with your research. This will keep you from purchasing a lemon.
After you have settled on the Make/Model and you know what to look for and what to ask, it’s time to get serious and create a short list of airplanes for sale that you’ll actually inquire about.
That list will vet down to less than a half dozen final candidates that you might actually go see in person.
If you are pretty sure you have one you plan to purchase, it gets more detailed. You need to do a pre-purchase inspection (including all the aircraft documentation), do final negotiations on price, draw up a sales contract (optional), complete the bill-of-sale, arrange for getting it home, register the airplane with the FAA and your home state, and get trained to fly it. AOPA has an excellent guide with all the details here. https://www.aopa.org/Pilot-Resources/Aircraft-Ownership/Tips-on-Buying-Used-Aircraft.aspx
Seems like a lot of stuff, but it’s not as hard as it looks.
Wouldn’t you love to start out the summer right with a nice airplane at the airport waiting for you to jump in at a whim and go flying?
Have a great flying season!
By Brent Owens
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There’s nothing like having your own “ride” sitting there waiting for you whenever you wanna fly it! Of course, there’s nothing that can empty your checking account quite as quickly, either…
I think the Advanced Pilot Seminars material on engine management and Mike Busch’s Savvy Aviator articles should be required reading for every prospective owner — it would keep them in the game a lot longer since they wouldn’t have to learn all those expensive lessons the hard way.
–Ron
Great call out Ron! Mike has put out some great stuff that is MUST READ.
Ron, I’ll be hitting you and Brent up for some more “required reading” here in the (hopefully) near future!
Reading this takes me back about 18 months, when my own path toward aircraft ownership started. I’ve been a member of a local club with two reliable and utilitarian (but old and barely-IFR) Archers for over two decades. Most of the club membership are very casual pilots, so any discussion of upgrading to a faster, slicker aircraft that would be more useful for “serious” cross country flight rapidly got voted down. After a lazy, no-one-is-flying winter meeting, a few of us hung around afterwards to talk about the dilemma. I suggested we get together at a local establishment for dinner and some beers and a more serious conversation.
That turned out to be the best idea I could have had. At that dinner, we all talked very honestly about what we were looking for in a more capable aircraft, very similar to the process you outline in your article here. And a lot of options came out, and it rapidly became clear that were were not a group of six, but two distinct groups of three. Three of us were looking to spend a fair amount of money on a modern, comfortable, friendly plane that was ready for 21st-century IFR flight and could actually GET people to destinations like North Carolina, Dallas, and New Orleans. And the other three started seriously geeking out on how you can get an early-60’s Cherokee Six for about $30,000 and how fun it would be to get your hands dirty upgrading it to an IFR-capable “passenger van” for families and group outings.
That alone was the outcome of that dinner, but it was enough. As the group broke up, the other two guys in the first group suggested we move to the bar, have another beer, and keep talking. And that’s how it all started… after a couple of months of analysis of what we wanted vs. aircraft we thought would be appropriate (and some serious spreadsheet work on my part) we rapidly zeroed in on a handful of types. Then we started looking around at aircraft for sale, and last July took ownership of a 2011 Cirrus SR20 that all three of us are incredibly proud to own. We’re flying her like crazy, and almost a year later I don’t think anyone regrets the partnership in the least.
Brent, I want an airplane so bad I can taste it! I am slightly terrified about the process of buying (which model, which specific aircraft, registration, upkeep, insurance, etc. etc. etc.), but it sounds like once you buy one, you see it’s not so bad. After spending a ton of time on Barnstormers myself, it’s clear there’s an airplane for nearly ANY budget. The question is…will I be content with what I can afford?
Rob,
Yes, the fear of the unknown is strong in this arena. Obviously, there are pitfalls, but as you said most find it to be no big deal once they are in – especially if they did their homework up front.
I can’t what to see you get something in the near future.
Brent
I am thinking of getting a plane to share with a couple of other people. It’s terrifying but hope that will save some some cash for lunch at visited airports locals 😉
Look to be on goal for 2015, can’t wait until I’m “back in the box” .