Fly buys

The reasons for people deciding to buy aircraft can differ greatly. Personally, I enjoyed flying a light aircraft away from the type of flying that I do for a living. It also allowed me to travel by air in aday to write stories for Australian Aviation that may otherwise have taken two days by car. For others, a light aircraft can be an effective business tool that shrinks the tyranny of distance outside the confines of airline schedules. Many owners fly purely for recreation and a number congregate at aero clubs and fly-ins to share their passion with like-minded folks.

Whatever the motivation is, honestly defining it is a key first step towards ownership. Before a computer is purchased it is best to decide whether it will predominantly be used for work or pleasure, documents or graphics, games or videos. Purchasing an aircraft also asks a number of questions of the potential buyer, and the answers have to be honest.

If the aircraft is for recreational purposes, consider what sort of flying will be conducted and how many people will be carried. If the flying will mainly be comprised of solo local flights of less than an hour, then the aircraft required will be significantly different to the individual looking to fly long distances with passengers. Similarly, a businessman with a timetable to keep cannot really afford the vagaries of visual flying and should instrument flight rules be necessary then a multi-engine aircraft should be added to the list of contenders.

One of the conundrums is that many older light aircraft have two more seats than their performance figures really reflect. A four-seater is really only an effective two-seater with full fuel in many cases. On the one hand, it is well worth having the added performance of a slightly larger aircraft, but one must also fight against the temptation to assume that the performance still exists when the aircraft is at full capacity.

It is important to assess the planned role and utilisation of the aircraft from the outset as this will narrow down the field of possibilities that can genuinely meet the need. Furthermore it offers a profile when purchase price and operating costs are starting to be investigated. In the first instance,speed costs money. A larger engine burning more fuel to yield an extra 30kt may not be necessary if long cross-country flights are not the main task for the aircraft. Fuel, maintenance, insurance and hangarage are just some of the other operating costs to consider. Selecting the wrong aircraft can leave the owner with greater ongoing costs than necessary. You don’t want to buy a two-seater Pitts for those weekend golf trips with the lads, just as you don’t want a Piper Aerostar for one-hour scenic flights with two people on board.

A matter of cost

The purchase price can often be within reach, but it is critical to formulate a spreadsheet of the ongoing fixed and variable costs. Too often owners lament that the purchase price ended up being the cheapest part of ownership. It is the annual maintenance and insurance bills and the monthly hangar fees that begin to add up. These costs are particularly painful when the owner is ‘time poor’ and doesn’t utilise the aircraft, meaning that these annual costs can equate to ahorrific hourly rate. Actually flying the aeroplane is the cheapest part of the equation.

As with all financial decisions, it will become a case of affordability and budget. In turn, that budget will determine whether the aircraft is new or used and whether the purchase is outright or via a third-party financier. Perhaps a Light Sport Aircraft (LSA) meets the need and is an option to consider.

Potential owners can also consider the options of taking part in a syndicate, placing the aircraft ‘on line’ with a flying school or even purchasing a project in need of restoration. These alternatives can work in some cases, but they definitely come with the caveat of ‘buyer beware’.

Syndicates need to be carefully considered for the number and the quality of the members. The fine print also has to be very closely read regarding costs and responsibilities in the event of an accident and damage being sustained. The best syndicates are managed like businesses with everything legally defined and up-front. Too often a handshake between friends can end badly. Placing an aircraft on-line at a flying school can also be a means of offsetting costs, but be prepared to have to book your aircraft like any other hirer. Also, using your aircraft in a commercial environment will raise the cost of insurance and undoubtedly maintenance as aircraft can work hard in the hands of students and a range of other unknown pilots. Just like private owners using their aircraft as business tools, owners placing their aircraft on-line should seek out a proficient accountant to ensure that the appropriate deductions and depreciation are correctly claimed.

Finally, the option of a project or ‘basket case’ can offer a low purchase price. Unfortunately, unless you are a licensed engineer, a good many projects become labours of love that cost a great deal more by the time they fly again, if they ever do. Time and money are two key ingredients in aircraft restoration and while there are wonderful examples of success, there are probably more sad tales of frustration and failure. As with most things, if the price is too good to be true, then it probably is.

The fun part

Once you have honestly defined the role of the aeroplane and narrowed down the field of contenders with the introduction of a budget, it is time to go shopping. The internet has made this process increasingly simple in the first instance with access to aircraft worldwide if need be, along with multiple colour photos of the aircraft’s interior and exterior. While this has made finding the aircraft easier, the legwork of a full investigation still remains.

Research takes time but it can also save a lot of heartache. One of the first places to visit on the internet is owner groups for particular aircraft types. These provide a wealth of information

Too often owners lament that the purchase price ended up being the cheapest part of ownership.

that you can’t expect from a salesman. They know the type intimately, the availability of parts and the best places for maintenance. They can also highlight what to look for before you buy.

A pre-purchase inspection by an engineer is money well invested, although I have met some great engineers who steer clear of undertaking these checks. Without knowing the individual aeroplane thoroughly, they are hesitant to sign off on its quality. Still, an inspection by an engineer is warranted in all cases and armed with tips from the owner groups the inspection can be appropriately tailored. Engineers are also vital in ensuring that the logbooks are correct and that all of the airworthiness directives (ADs) for the aircraft have been carried out and written in the log.

Seeing is also believing. Photoshop can make some fairly tired-looking aeroplanes appear fresh on a computer screen. There is no substitute for seeing the aircraft firsthand to get a true appreciation of its condition. Additionally, a test flight should be conducted and that should not simply be seen as a joy flight with the rolling paddocks below. Note the static RPM prior to takeoff. What is the takeoff and climb performance compared to the flight manual figures? How does it handle and what is the true airspeed in cruise flight? Make a list of what you want a test flight to achieve the most and it will assist in keeping emotions at bay.

Another great tool is available online through CASA as part of its Ageing Aircraft Management Plan. It is the CASA prototype matrix tool, which allows the modeland serial number of a particular aircraft to be entered. In turn, this will highlight whether an aircraft is likely to be affected by the ageing aircraft program. As no two aircraft are the same, the matrix allows further details relating to the aircraft’s history to be entered regarding its type of past operations, and where and how it was hangared. There is also scope for investigating the maintenance background of the aircraft. Taken together, this refines the aircraft’s profile in light of ageing considerations. The history of an aircraft can also be a defining factor, for the pampered family aeroplane may be the same model and year of manufacture as a well-worn night freighter or weary flight trainer. In reality the two aircraft are probably poles apart.

As with any major investment, thorough research is essential. Window shopping is the fun part and it’s free too. However, when the next step towards purchase is to be taken, a diligent approach to combining digital resources and hands-on assessment is required to best gauge the aircraft and any possible shortcomings.

To buy or not to buy

The decision to purchase an aircraft can be one of the most enjoyable and exciting acquisitions any pilot can make. However, for the story to have a happy ending it must have solid, emotionless foundations built in the beginning. In that way, the decision can be made with confidence and ongoing ownership managed with competence.

Despite what the critics might say, it can be a true pleasure to actually own something that flies or floats.