When buying a used aircraftor airplane, you want to make sure it fits your needs. Many people end up with an airplane that doesn’t suit there needs because they buy something based on what they think they might like, or only what they think they can afford. Buying an airplane solely based on the purchase price and your budget, can often lead to you getting into an airplane that doesn’t suit your needs This can end up costing you more than you think. One great way to buy the right airplane for you, but carrying the entire financial burden, is to partner up with another pilot. This can be tricky, but if you find the right person, it can be a great deal.
First off, you need to find out which used airplane or aircraft is right for you. How many seats do you need, what about range, speed, features, etc? Then, you need to figure out who you want to share the airplane with. You need to make sure that you trust the person, and you want to make sure that they are at a fairly similar flying level as you. This would be the hardest part.
Make sure you have a written agreement signed by both parties that clearly states the conditions of sharing the airplane. How would you both schedule the airplane? You don’t want one person flying it a whole bunch more than the other, and then splitting everything 50/50. You also don’t want it to be so particular that going out to fly becomes a headache. Make sure that an account is setup for routine and unexpected maintenance. Talk about unexpected maintenance before you get into a partnership. Decide if you want the airplane kept in a hangar, or out on the ramp. What about fueling after the flight? All of these decisions should be made as a team.
Once you buy the airplane, do your best to take excellent care of the airplane. Take turns getting the airplane washed and detailed. Keep all trash out of the airplane and keep the hangar tidy. Unless agreed otherwise, don’t top off the airplane each time you leave. Even though many would thing this is the courteous thing to do, if the other pilot wants to come fly and has a full plane, the extra fuel might now work for him. He may only be able to safely take off with half tanks, and now is going to have to siphen fuel out. Keep a current squawk sheet of any minor things that arise, and keep a flight log in the airplane of all flights taken. This is as simple as a notepad that states the start and end of hobbs and tach time and where the plane was flown to and from. This helps both pilots be aware of times and how often the airplane is flown. Doing these things should ensure a long and happy airplane partnership, and hopefully each pilot gets more airplane for the money.
If you have any other suggestions on how to make an airplane partnership work, please comment below. Thanks!
Getting a Pre-Buy Inspection on a Used Airplane
When buying a used airplane, you want to be very careful. Many used airplanes on the market right now are around 30 years old or older. Being old doesn’t mean that the airplane isn’t in good shape, but you just need to verify the condition before you decide to purchase. One way to do this is by getting a “pre-buy” inspection on an airplane you are very interested in.
Depending on your aircraft knowledge, you can do some of the investigating yourself. This would include a very thorough and detailed pre-flight and a checking through of the maintenance logs. See if anything stands out. Some red flags may be extended periods of time that the airplane went without maintenance or missing logs. If there is anything you are uncertain about, go talk to the mechanic that has been working on the airplane. Ask him what he thinks. Ask him what he knows about the history of the airplane and how it’s been maintained. He should be unbiased and happy to help.
The next step would be to take it to your own mechanic, or a mechanic other than the one who has been working on it. Make sure the mechanic is experienced with the type of aircraft you are interested in. Have them do a “pre-buy” inspection, or if an annual is coming up soon, you could talk the seller into splitting the cost of an annual inspection for a more detailed look. Don’t expect the airplane to be perfect. After all, it’s a used airplane, not brand new. There will be small things that are wrong, but you and the seller should be able to negotiate what and how things will get fixed. If there are any major issues, however, you may not want to get involved, or talk to the owner and see what he is willing to do about it.
After the inspections are done, you should be more confident about your used airplane purchase. Keep in mind though, if it sounds too good to be true, it probably is!