Buying an aircraft is a big deal. You cannot buy an aircraft by looking at its ads like you could a car. Instead, you need to have a sound knowledge of its complex mechanical parts. Dealers can be intimidating, and may make you feel like this is the best aircraft you can buy.
However, the opposite is often the case. There are other factors that impact your decision-making process when buying an aircraft. But, it is an exciting process to buy an aircraft. If you had been planning on purchasing an aircraft, you would have read tips on how to buy it. But, you don’t know about which mistakes to avoid while buying an aircraft.
This blog will guide you through some of the most common mistakes people make when buying an aircraft and how you can avoid them.
Deciding Based On Price
The price of an aircraft can vary. It may be tempting for you to choose the cheapest aircraft, but this can be dangerous. Used aircrafts have prices based on their material and the number of hours flown.
An aircraft flown for long hours requires a D-check maintenance inspection. This can be very costly for you, especially for older jets, and could be one of the reasons why someone is selling it at a low cost.
Therefore, always know the reason why someone is selling in the first place. Know what is the aircraft’s age and how it was used.
Not Analyzing Your Needs
Are you looking for the right kind of aircraft? The best place to start is to analyze your needs and ask yourself:
- How often do you travel?
- How far do you have to travel?
- Who is traveling with you?
These questions will narrow down your options. If you have an aviation consultant, get him to analyze your aircrafts features and your needs. He can help you decide whether you need a jet, turboprop, piston, or a helicopter. What the size of the aircraft should be, and how many people it should accommodate.
Valuing Aesthetics Over Functions
Understand what you need and what you want. It may be tempting to opt for a stylish looking aircraft with a comfortable interior. Look for an aircraft that meets your operational expectations so you can fly with safety and assurance.
Not Asking For An Inspection
Never agree to any deal before asking for its inspection status. If it needs any maintenance inspections, ask your seller to do that before. Inspection is crucial, but still, a lot of people forget it. This is because the buyer either knows the seller personally or has a lot of trust in him.
The inspection is a vital part of buying the aircraft, and unless you are an expert in this, you must not buy the aircraft without having a proper inspection done to it. As a buyer, you have the right to reject an aircraft after a reasonable time frame.
Buying It Alone
Purchasing an aircraft is nothing like buying a dress for yourself. Trying to do it on your own and not asking an expert or a friend is a mistake. It can be difficult for you to accumulate enough knowledge to get the best deal.
Knowing the critical details is beneficial for you to get the best aircraft that meets your requirements. If you arm yourself with strong advice, you can protect yourself from falling into the wrong deal.
Another mistake you can make is not hiring an attorney that understands the tax implications of buying an aircraft. Your aviation attorney can help you form a deal to pay for the minimum sales tax complying with the Federal Aviation Administration (FAA).
If you do the proper planning from the beginning, you will only have to pay a limited amount of sales tax. Your attorney can also educate you as to where you can keep your aircraft safe.
Consider taking advice from an expert to have your aircraft checked. Don’t just trust the person, even if the seller is your dearest friend. If possible, have a team of aviation, tax, and FAA regulations. Never ignore other options available to you, and don’t give the seller a pass on inspections.
Keeping in mind the above tips will help you get the best deal. If you are looking for a reliable aviation consultancy and product design, you can get in touch with aviation specialists here.