Owning an aircraft is definitely a proud moment. But buying an aircraft depends on several things. Buying one and flying, are both quite expensive and it will remain so. But when investing in this expensive, yet recreational property, you should keep a few things in mind. Buying an aircraft depends on how much time you are going to fly it. When you are purchasing a used aircraft, apart from worrying about the aircraft title search, there are other things to take care of.
Have a closer look and check over factors like model and manufacturing date, engine, airframe modifications, history of damage, interior and exterior, types of avionics, time on the airframe. Upon examination of this, you can decide if the aircraft has the things you are looking for. If you are on a limited budget you may end up with either an older and capable aircraft, or one that is new and less capable. Your acquisition budget may force you to concede certain features.
While buying an aircraft, bear in mind that there are scheduled and unscheduled maintenance charges that you have to pay. You can save money if you have knowledge of aircraft maintenance. You can get a rough idea on maintenance costs depending on the total assumed hours you will fly each year and the hourly cost.
What Would You to Take Care of?
- Apart from the aircraft title and escrow, you have to look after for any airframe modifications.
- A factory rebuilt engine is considered good but does make much of a difference in market value.
- You can still consider an aircraft with damage history. Before completely rejecting the aircraft, try to find out the complete damage history, type of it, time, loss due to it, logbook, repair history etc.
- You should try to find an aircraft with the features you are looking for already installed, instead of having to pay to get them installed.
- Make sure to have an aircraft title search. It helps to determine that the seller is not faking ownership, it is in fact the real owner.
- Do not ignore the logs. Read all the papers and books from the log book.
A Few More Tips
The basic rule of thumb is, fly your aircraft for at least one hour, once a month or every thirty days. Otherwise, it can be considered aircraft abuse. Oil drainage, dried out sealant, flat tires and dead batteries are also types of aircraft abuse.
Make sure you know the state rules well. The rules and regulations continue to change in every state all the time. Abiding by these and knowing the right ones is essential.
For your aircraft title and escrow, visit Aero Title. We will help you at every step, whenever you need us. For any further queries and title search, come to us without any hesitation.