3/6/2020 0 Comments How to Buy a Used Aircraft It is not a simple matter to buy a used aircraft. It remains a significantly expensive purchase, one with more risks than if you were buying a new aircraft. You, therefore, need to know what you are doing before you venture into this exercise. Here are some of the things you need to pay the most attention to. You need first of all to be clear of your expectations on the aircraft. You need to know the kind of flights you will be taking in the aircraft, the number of passengers you expect to have in there, and the distances you will be covering. Such info is necessary for you to identify the right class of aircraft. The distance, for example, helps you pick the right aircraft with enough power to cover those distances. You then need to settle the matter of financing. You will find plenty of sellers in the market. There are those who trade fairly, while others have unscrupulous practices. Since you are new to this market, they may take advantage of you. It is therefore in your best interest to hire an aircraft value reference (VREF) appraisal service. Their appraisal work will help you buy an aircraft worth the expense. You get to know if the quoted price is a realistic reflection of its value and to line up the necessary financing with the right information. The VREF report contains details such as its service plan and maintenance history, the equipment onboard the aircraft, the state of the interior from the paint to the avionics and their refurbishment history, and such. If you find the aircraft worthy of the price tag, you need to now test fly it. That session allows you to confirm that everything in the report is accurate. You need an aircraft mechanic to also inspect the engine and make their independent report. A comparison between their report and the earlier one helps you draw an even more informed conclusion. The independent inspection also allows for no room for bias in the process. With the right information in place and your mind made up, it shall be time to complete the transaction. All areas that needed repair should have been taken care of by the seller, and a final inspection should reveal that everything is in order. Make sure that you check all these boxes before you commit to any sale. You need the VREF inspection done by the best professionals in the market. You can check out this link for more info. For more details about aircraft, click at https://en.wikipedia.org/wiki/Aircraft.
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