Aircraft For Sale In Canada – Did You Think About These 2 Things?
If your in Canada and your looking to buy an airplane that is for sale, you have a unique situation on your hands that can be very good OR become very frustrating if you don't handle it the right way.
You have the opportunity to buy Canadian registered airplanes that are easy to buy as a Canadian, but you also can access the United States market if you have the right strategies in place. Not only that, you can use the currency to your advantage if the Canadian dollar is high.
IMPORTANT: You have to make sure that when you are buying an airplane, you don't cheap out and do everything yourself. You need to make sure you use professionals to take care of the transaction for you like lawyers, aircraft appraisers and good airplane mechanics. You pay a bit on the front end, but you'll likely save a lot in unnecessary head aches down the road.
2 Very Effective Ways To Buy An Aircraft For Sale Within Canada
First - Make This Market Your Focus FIRST
The one problem that most people have who are looking to buy an airplane from Canada is the fact that if you are actually Canadian you will go onto the classified sites, exc and see that there is a lot of planes for sale.
The problem is that most of those are USA registered aircrafts... So what you are going to want to do before you do anything else is make sure you narrow your search to airplanes that are registered in Canada.
There are some really good sites out there that do provide Canadian aircraft listings. Not only that, a good Canadian broker should be able to put you in the right direction or even find you the airplane you are looking for. They are in the business and do this a lot, so you never know what they might be able to find for you.
Don't overlook this market! You have to realize that there are a lot of great airplanes that are for sale in the local Canadian market. As well, if you find a model that you like, but think it needs a bit of work - that's okay.
Why This Normally "Bad Thing" Can Actually Be A "Good Thing" For YOU
If you have to put a few thousand dollars into a Canadian registered aircraft to get it to where you want it in terms of fly-ability, that is a lot cheaper and easier then wasting a ton of time and money finding a perfect airplane in the USA and then bringing it across the boarder.
Normally, your not going to want to get a "rehab" airplane as you will have to put time into fixing it. But if you have no choice due to the fact that the only other option is to go to the USA and get one, you might want to do the math on seeing if buying the Canadian registered aircraft is going to be cheaper in the long run.
The "wild card' is the fact that if you go south of the boarder and get that airplane because it is in great shape and you can get a good deal on it - you have NO CLUE how long the "red tape" issues of getting it re-registered will take. So your great deal could sit in a hanger for months on end if you have a few problems.
Second - If You Go To The USA - Make Sure You Do THIS
If you plan on buying an American registered airplane because you can't find one in Canada, then you need to make sure you do the buying process BACKWARDS...
Meaning, start with the end in mind and figure out what needs to be done to make sure you can get that airplane registered, imported, insured and flying in Canada. Don't buy the airplane first and then do all these things. Go through the process backwards and find out exactly what you need to do for the specific model you are looking to buy.
Don't Forget This One Important Aspect
You need to know the issues with the specific plane you are thinking about buying - so make sure you do your investigating backwards BEFORE you buy the airplane verses after... You'll likely save a lot of stress in your life!
Don't just get some general information that might help you in the right direction. You need to make sure you get the specific information that relates to the exact type of aircraft you are looking for. If there is some expensive A/D's that you are going to have to deal with, you need to know this issue before hand.
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