🛩️ Step-by-Step Guide to Buying a Small Aircraft

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Decide What Type of Aircraft You Need

Consider your flying goals:

  • Personal/recreational use: Look at light sport aircraft (LSA), ultralights, or piston singles (e.g., Cessna 172).

  • Training: Used Cessnas or Piper Cherokees are common.

  • Business travel: Turboprops (e.g., Beechcraft King Air) or light jets.

  • Backcountry or bush flying: STOL aircraft (e.g., Maule, Husky).

Factors to consider:

  • Number of passengers

  • Range and speed

  • Terrain (paved runways vs. grass strips)

  • Maintenance complexity and costs

2. Set a Budget

The cost of small aircraft varies greatly:

Aircraft Type Typical Price Range (USD)
Ultralight $15,000 – $40,000
Light Sport Aircraft $40,000 – $180,000
Piston Single (used) $30,000 – $300,000+
Twin Engine (used) $150,000 – $500,000+
Turboprop (used) $500,000 – $3 million
Light Jet (used) $1 million – $5+ million

Other Costs to Budget For:

  • Annual maintenance ($2k–$10k+)

  • Hangar or tie-down fees

  • Insurance

  • Fuel (~$6/gallon avg for avgas)

  • Training and recurrent certification

  • Pre-purchase inspection (around $500–$2,000+)

3. Search for Aircraft

Where to look:

Use filters for:

  • Aircraft type

  • Year

  • Time on airframe/engine

  • Avionics

  • Location

4. Review Aircraft Records

Key things to check:

  • Logbooks (complete and consistent)

  • Maintenance history

  • Time since engine overhaul (TBO)

  • AD (Airworthiness Directives) compliance

  • Damage history (accidents, corrosion, gear-up landings)

5. Arrange a Pre-Purchase Inspection

Always have a pre-purchase inspection (PPI) done by a trusted A&P mechanic or aviation maintenance facility. They will assess:

  • Structural condition

  • Engine health

  • Avionics and instruments

  • Compliance with ADs and Service Bulletins

Even if the plane looks great, hidden issues can cost tens of thousands later.

6. Secure Financing (Optional)

If you need a loan:

  • Aircraft-specific lenders: AOPA Finance, AirFleet Capital, LightStream, Bank of America Aircraft Lending

  • Terms: Typically 10–20 years, rates 6–10% (as of 2025)

  • Down payment: Usually 15–30%

  • Credit check + aircraft appraisal required

7. Purchase and Registration

Bill of Sale:

  • Signed FAA Form 8050-2 (or equivalent in your country)

Title Search:

  • Check for existing liens or claims

  • Use services like Aero Title or Aircraft Title Co.

Register the Aircraft:

  • In the U.S.: Submit FAA Form 8050-1 + fee to the FAA Aircraft Registry

  • In Canada: Register with Transport Canada

  • In Europe: Use EASA registration process

  • Also register ELT beacon, if required

8. Get Insurance

Types of aircraft insurance:

  • Liability only (cheapest)

  • Hull coverage (protects your aircraft itself)

  • Non-owned aircraft insurance (for renters)

Rates vary based on:

  • Pilot experience

  • Aircraft type

  • Hours logged

  • Avionics and safety features

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