Determining the Airplane for You

So you’ve decided to buy your first airplane. It can be an exciting, yet nerve-wracking experience. Here’s a few tips to get you started.

What are your needs?

Will you be flying short business trips that usually involve you  and the occasional passenger? Or do you need a family airplane that can fit you, the kids, the dog, and luggage? Where are you planning on going? What is the elevation of your area and the areas you intent to fly? These questions here will help you narrow down some choices.

Keep in mind that most 4 seater aircraft do NOT fit four adults plus fuel. Don’t figure for number of seats as you would in a car. Just because the airplane has 4 seats, doesn’t mean it can carry 4 people. Check out the useful load for the airplane and determine your needs accordingly. Also, make sure you are realistic about who will be coming with you. There are countless owners out there who’s significant other refuses to get in an airplane with them. Make sure that if you have someone else you plan to tote around, that they are in for the ride!

If you plan on doing business trips or you and one other person going for a weekend getaway, a Piper Archer or a Cirrus SR22 may be right for you. Both these planes will hold two people, luggage, and full fuel. However, if you, your wife, the two kids, and the dog are planning on longer trips (ie, lots of luggage) that happen frequently, then maybe a Piper Aztec (assuming your multi-engine rated) or a Cessna 210 would work best. Both those airplanes have decent speed and can hold just about anything you could think to put in them.

Are you flying around at sea level in Florida, or taking off and landing in the mountains of Colorado? There is a big difference in what kind of performance you will need here. You may need to opt for the larger, turbocharged engine if most of your flying is at high elevations.

What is your budget?

I know, it’s not a fun subject. Keep in mind that the cost of ownership does not just involve the payment of the airplane and fuel. You will have insurance, storage, routine maintenance, and unexpected maintenance. These numbers will depend on your experience level, the type of airplane you buy, and where you intend on storing. Make sure you have enough money saved for maintenance reserves for both routine and unexpected maintenance. The more you fly, the more it will cost you. However, not flying enough will also cost you! More into that later.

Once you have a number down, let’s say for example, $100,000, see what’s out there for that price. You could get a brand new Light Sport Aircraft (LSA), a later model Piper Archer, or an older, outdated Cessna 310. So this comes back to what your needs are. Keep in mind that an older airplane may end up costing you more in maintenance, and you may need to put more money aside for upgrades and overhauls.

Financing

You need to talk to some good aviation lenders and see what the current rates are if you plan on financing. Fleet Capital is a major aviation lender and AOPA is always a good place to start. There are still lenders out there, but these days, they are requiring a little bit more money down. Shop around and do your homework.

Experience

Don’t let your experience hold you back, but don’t buy way more than you can handle…and get insured for! A newly certificated pilot with 55 hours might fall in love with a Piper Meridian, but that might be a little too much airplane. I’m not saying you need to go buy the same model Cessna 172 you did you training in, but maybe there can be a compromise, like a Beechcraft Bonanza. Once you have more experience (including an instrument rating!) and time under your belt, and are used to a higher performance airplane, then you can re-evaluate your needs.

Related posts:

1. The debate over light twins
2. If I’m not qualified to fly an airplane, can I still buy it?