Buying An Airplane - 2 Great Ideas For Getting The Best Deal Possible
If your looking to buy an airplane you are going to want to make sure you can get the best deal possible! But the problem is - doing so sounds easier then it actually is. A lot of people think they can go in and body slam the owner into selling their airplane for a substantial reduction.
But you have to realize that buying an airplane is not like buying a foreclosed house. Most sellers are not usually broke and a lot of them don't want to sell the airplane. But they have to for health reasons, no time to fly, exc. So in a lot of cases your going to be dealing with a resistant seller.
An airplane is an emotional purchase in the sense that it becomes a part of who you are as a person! It's really wired into you as a pilot when you own an airplane. And so you need to make sure you respect this fact when you are trying to get a good deal from someone who is most likely giving up a piece of who they are. This is especially true if they are selling the airplane due to medical reasons.
2 Strategies Every Pilot Should Know For Getting The
Best Deal On Your Next Airplane
First - Make Sure These Numbers Are Right
You would never try and figure out the right price for a 3,000 square foot house by comparing it to the one bedroom condos that are for sale in the area. But that is what people who are buying an airplane do all the time.
You have to make sure you compare the right airplanes with one another or your going to end up confusing yourself & potentially getting the wrong airplane for the situation that you are in.
For example: A pilot might be looking at buying a Beechcraft Bonanza A36, but he is comparing it to buying a Cessna 172. Or he may be looking at a Cessna 172 but comparing it to buying a Cessna 152.
You have to figure out what style of aircraft you are looking at buying in terms of seating and performance, but you need to make sure that once you figure that number out you compare four or five Beechcraft Bonanza A36's together.
Don't compare a Beechcraft Bonanza to a Cessna 172 and think that you should be able to get a better deal on the Beechcraft because you are willing to spend a bit more then you would otherwise spend on the Cessna 172.
So find 5 planes that are for sale that are all the same model and use them to figure out the best price in terms of what you think you should pay for it.
Second - Don't Forget About This ONE Negotiation Technique (Very Important)
Everything is negotiable when you are buying an aircraft.. The great thing about buying a used aircraft is the fact that there is no standard in terms of how the plane should be priced. You can negotiate what ever you want... So make sure you are not being intimidated by the owner who might be trying to bully you into his price.
At the same time, you don't want to be a jerk and offend the owner as they might just decide not to sell you the airplane! So be respectful and realize that you can try and negotiate what you feel should be negotiated.
One of the common problems buyers have is the fact that the airplane they are buying is in another state. If that is the case and you feel it would be better for you to have the airplane delivered to your town, then do your best to make that apart of the purchase agreement. That way you can get it sent right to your home airport verses having to fly your new airplane on a cross-country flight the first time you fly it.
The Biggest Thing Pilots Forget To Negotiate
One of the biggest things that people forget to negotiate is the avionics! If the owner paid $100,000 for the GPS system 2 years ago, the chances are very good that it is worth no where near that now. There's probably been a new system put out to replace the one that the owner has in his airplane.
So, if your buying an airplane that is "avionics" heavy - make darn sure you properly price out the equipment so that you can get a price on what they should be worth right now. Of course the owner thinks they are worth what he paid for them, but reality is that they are probably outdated and you need to find a fair price for them.
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