AOPA Pilot Magazine - January 2021 - 108

NEWS & NOTES

MEMBER PRODUCTS AND SERVICES

MEDICALLY SPEAKING |

Basics of BasicMed
Here's a refresher

AVIATION FINANCE

ADAM ANSWERS

GARY CRUMP

B Y A DA M M E R E D I T H
P R E S I D E N T, A O PA F I N A N C E

Pilot Protection Services

BASICMED IS AN AMAZING success story

for general aviation. Currently, more than
60,000 pilots have met the qualifications to
fly under BasicMed, and the number keeps
increasing. BasicMed came into existence in
May 2017 as a result of legislation included in
the FAA Extension, Safety, and Security Act
of 2016 and allows pilots to operate, without
an FAA-issued medical certificate:
* aircraft with a maximum certificated takeoff weight of no more than 6,000 pounds.
* with no more than six occupant seats.
* day, night, VFR, and IFR.
* at altitudes less than 18,000 feet msl.
* and no more than 250 knots IAS.
The rule requires a physical exam be
performed by any " state-licensed physician " using the Comprehensive Medical
Examination Checklist (CMEC), FAA
Form 8700-2, at an interval not to exceed
48 months, and completion of an online
medical self-assessment course every 24
calendar months.
The rule requires the pilot to retain two
documents to validate their qualifications.
One is the two-part CMEC exam checklist that is completed by the pilot (section
2) and by the examining physician (section
3). The completed form, when signed by the
physician-with the doctor's address, date
of the exam, and the doctor's state license

number-is given to the pilot to be retained in the
logbook and presented to the FAA " upon request. "
The other document is the course completion
certificate that renews every 24 calendar months.
And every time the course renews, you will need
the information from the physical exam to complete
the certificate form, so you will be referring to the
exam checklist every two years when you renew
the self-assessment course. You are not required to
carry either of the documents with you when you
fly, just your FAA airman certificate and your valid
and legal driver's license.
Remember, BasicMed has nothing to do with
an FAA medical examination. Two different regulations, two different animals that don't interact.
aopa.org/pps

GARY CRUMP is the senior director of medical certi-

fication for the AOPA Pilot Information Center.

LOGBOOK LOGISTICS
We talk to many pilots who carry their logbooks with them when they fly. Unless you're
a student pilot on your solo cross-country
flights and require logbook endorsements
to verify you went where you said you did,
there is no requirement to carry your logbook with you. If you have an accident that
results in the destruction of the airplane, as
in fire or water ditching, recovering your
logbook may be difficult or impossible.

Q: I have a 1979 Piper Turbo
Arrow IV that I own outright
and may be looking to upgrade
to a Malibu in the next two to
three years. With a $100,000 or
$150,000 down payment, good
credit, and $90,000 per year
income, roughly what sort of
interest rate would I be looking
at for a $400,000 to $450,000
aircraft if I financed it over 10 or
20 years? The aircraft would be
used for leisure only and would
be hangared 24/7. I have no violations, incidents, or accidents,
and I fly professionally.
A: In today's current environment, rates typically range from
3.75 percent to 4.5 percent for
a personal-use aircraft. There
are a number of factors that
would drive rate; however, the
biggest two are liquidity (how
many months' worth of nonretirement cash/marketable
securities you have) and debt
to income ratio (total annual
debt payments plus living/aircraft expenses divided by total
income). The best rates are
for strong applicants having
more than 18 months liquidity and less than 35 percent
debt-to-income.
finance.aopa.org
800-62-PLANE (75263)

CONTACT AOPA
ADDRESS CHANGE?

Send your new address and AOPA
membership number to AOPA:
421 Aviation Way
Frederick, Maryland 21701-4798
Fax: 301-695-2375
aopa.org
TOLL-FREE PILOT
INFORMATION CENTER

800-USA-AOPA (872-2672)
pilotassist@aopa.org

AOPA FOUNDATION

AOPA AIRCRAFT FINANCING

AOPA AIR SAFETY INSTITUTE

AOPA PERSONAL INSURANCE

800-955-9115
aopafoundation.org
800-638-3101
airsafetyinstitute.org

AOPA CREDIT CARD PROGRAM

Top off your airplane and wallet
with the best card for pilots.
877-787-3171
aopa.org/creditcard

800-627-5263
finance.aopa.org

800-USA-AOPA (872-2672)
aopa.org/membership/personal
AOPA PILOT PROTECTION SERVICES

800-USA-AOPA (872-2672)
aopa.org/pps
AOPA TRAVEL DISCOUNTS

aopa.org/cars | aopa.org/hotels

AOPA PILOT INFORMATION CENTER HOURS

Do you have questions or need information about an aviation topic? Access the team of aviation experts in our Pilot Information Center
during our convenient weekday hours. Call 800-USA-AOPA (872-2672) Monday through Friday, 8:30 a.m. until 6 p.m. Eastern time, with
your questions and our staff will be happy to assist you.
Visit the website (aopa.org/membership) to learn about upgrading to our higher levels of membership with Pilot Protection Services
coverage included.
108 | AOPA PILOT January 2021

http://www.aopa.org/pps http://finance.aopa.org http://www.aopafoundation.org http://finance.aopa.org http://www.aopa.org/membership/personal http://www.airsafetyinstitute.org http://www.aopa.org http://www.aopa.org/pps http://www.aopa.org/creditcard http://www.aopa.org/cars http://www.aopa.org/hotels http://www.aopa.org/membership

AOPA Pilot Magazine - January 2021

Table of Contents for the Digital Edition of AOPA Pilot Magazine - January 2021