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purchase price of an aircraft approximates or exceeds the price of a new home.
Particularly when buying a used aircraft, it is wise to have the selected aircraft inspected by
a qualified person or facility before you complete the transaction. The condition of the air-
craft and the state of its maintenance records can be determined by persons familiar with the
particular make and model. Pre-purchase inspections should be performed by a Federal
Aviation Administration (FAA) certificated airframe and powperplant mechanic (A&P) or
an approved repair station. The Buying an Aircraft Checklist (Figure 2-1 at the end of this
chapter) is a suggested list of items to consider when purchasing an aircraft.
selecting the Aircraft
One of the most common mistakes in purchasing an aircraft is to make a decision too quickly.
Take the time to analyze your requirements carefully and be realistic. Consider the typical
flight loading, trip distance, and conditions of flight, then compare aircraft. If possible, rent
the type of aircraft that interests you to determine how well it meets your requirements. Keep
in mind that the biggest expense of owning an aircraft is not always the initial purchase price.
Where to Look
Once you have chosen the type of aircraft that will fit your needs, shop around and do some
pricing. For retail and wholesale price information, check with an aviation trade association,
bank, other financial institution, or Fixed Base Operator (FBO) for the latest aircraft bluebook
values. There are several good publications available that advertise aircraft for sale. Your
local FBO can be very helpful as you look for the right aircraft.
m CAUTION: Try to keep your search for an aircraft close to home. If a problem pops up
after the sale, you may not find the long-distance seller as willing to help you as someone
closer to home.
2-2
Plane Sense
Factors Affecting Resale Value
Know the major factors that affect resale value.
Generally speaking they are:
• Engine hours—perhaps the most common in-
fluence on resale value. The closer an engine is to
its recommended time between overhaul (TBO),
the lower the value. There are many factors that
affect engine health, and a high-time engine is
not necessarily bad. Regular use helps keep seals
and other engine components lubricated and in
good shape.
• Installed equipment—such as avionics, air condi-
tioning, deicing gear and interior equipment.
The most valuable equipment is usually avionics,
which can easily double the value of some older
aircraft. The newer the technology, the higher
the value of the aircraft.
• Airworthiness directives (ADs)—issued by the
FAA for safety reasons. Once issued, owners are
required to comply with the AD within the time
period allotted. It is important to look at the AD
history of an aircraft and ensure the logbooks
show compliance with all applicable ADs. ADs
are discussed in greater detail in chapter 9.
• Damage history—it may be difficult to locate
a complete damage history for an aircraft. Any
aircraft with a damage history should be closely
scrutinized to ensure it has been properly
repaired in accordance with the applicable Title
14 of the Code of Federal Regulations (14 CFR)
parts and recommended practices.
• Paint/Interior—as is the case with homes, paint
can be used to give “tired” aircraft a quick facelift. Check new paint jobs carefully for evidence
of corrosion under the surface. Interior items
should be checked for proper fit and condition.
Overhauls
Be careful of the terminology used to describe
engine condition. Do not confuse a top overhaul with
a major overhaul, or a major overhaul with a factory
remanufactured “zero-time” engine. A top overhaul
involves the repair of engine components outside of
the crankcase. A major overhaul involves the complete disassembly, inspection, repair, and reassembly
of an engine to specified limits. If an engine has had
a top or major overhaul, the logbooks must still show
the total time on the engine, if known, and its prior
maintenance history. A “zero-time” engine is one
that has been overhauled to factory new limits by the
original manufacturer and is issued a new logbook
without previous operating history.
Aircraft records
Aircraft records maintained by the FAA are on file
at the Mike Monroney Aeronautical Center in
Oklahoma City, Oklahoma. Copies of aircraft records
are available for review in CD format or paper. For
information on ordering and costs, contact the FAA
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Plane Sense – General Aviation Information(10)
