Flight Training - May 2020 - 38

Step 3: FIND IT AND INSPECT IT

The best deals on airplanes and easiest searching happen
locally. A friend knows someone; you see a flyer pinned to
an airport bulletin board; or someone posts on a local online
group. Putting out feelers at your local airport usually results
in someone wanting to chat about an extra airplane or a rarely
used one they are trying to unload. Some budget-minded
pilots who are willing to work on the airplanes with their
mechanics have even had success going down the tiedown
line and contacting owners of airplanes that look as if they
haven't flown in years.
If you're not lucky enough to find an airplane locally, you
can search plenty of online marketplaces, including Barnstormers, Trade-A-Plane, and even Craigslist and Facebook. If you've
settled on a particular model of airplane make sure to check
out the type club's website as well. There's often a message
board or classifieds where people are selling.
Used aircraft are in high demand these days. Consider
having your financing lined up before you start looking-and
then, when you see an airplane that strikes your fancy, contact
the seller right away. Some prospective buyers are finding that
if they think too long about an appealing aircraft, it's been sold
by the time they call the seller.
Keep in mind that the asking price is not necessarily the
purchase price. Even though it's currently a seller's market,
it's always a good idea to try and bargain. AOPA members can

38 FLIGHT TRAINING MARCH/APRIL 2020

access a service from Vref (aopa.org/vref ) that provides the base
retail price of aircraft. It's a good place to start a negotiation.
Although a buyer and seller can structure a deal however
they want, usually a buyer offers a deposit and then schedules a prepurchase inspection. Almost any mechanic can
inspect a common training airplane to find items that must be
repaired immediately for the aircraft to be airworthy, and to
itemize less critical discrepancies that may require attention
over time. For less common airplanes turn to a type club for
recommendations. The outcome of the inspection will dictate
the next steps. Often the seller pays for required repairs and
the buyer and seller negotiate on items that are less critical.
Occasionally issues that come to light are so severe that the
best thing to do is walk away.
Finally, it's always a good idea to perform a full document
search on the aircraft's title. Through this service you can find
if the aircraft has any liens and get information from the FAA
on past repairs and alterations.

Step 4: BUY IT AND REGISTER IT

If you're financing the airplane, the finance company will take
care of releasing the payment. With cash, the many ways to pay
include wire transfers, personal checks, and escrow. The most
secure method is through escrow. The funds can be released
once the buyer and seller agree on the final terms and that any
maintenance items have been addressed.

http://www.aopa.org/vref

Flight Training - May 2020

Table of Contents for the Digital Edition of Flight Training - May 2020