Hundreds of thousands of pilots and aviation enthusiasts will attend EAA AirVenture in Oshkosh, Wisconsin—no doubt confronting the temptation of buying or selling their own GA aircraft. [FLYING file photo]
Key Takeaways:
Prioritize a thorough, independent pre-purchase inspection by a qualified A&P/IA, along with meticulous review of all logbooks, a title search, and complete documentation of the aircraft's history.
Establish a realistic budget that includes substantial reserves (e.g., 10% of purchase price for initial maintenance) for ongoing costs like hangar fees, insurance, fuel, and unforeseen repairs, beyond the initial purchase price.
Research aircraft types extensively, consider future mission needs (e.g., IFR capabilities) before buying, and carefully select partners if co-owning, as poor partnerships can overshadow a good aircraft.
The countdown is on, and within days hundreds of thousands of pilots and aviation enthusiasts will attend EAA AirVenture in Oshkosh, Wisconsin—no doubt confronting the temptation of buying or selling their own GA aircraft.
FLYING asked readers for their best advice when it comes to buying and selling general aviation aircraft and if they had any regrets after a deal was struck.
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