3 Ways to Save Money When Buying a Plane

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Air transportation is one of the more expensive ways to travel. Aircrafts are more powerful and complex pieces of machinery than cars and buses and trains, therefore requiring a pricier path to maintain and operate. If you have frequent reason to need air transportation, you might even consider learning to fly an airplane and becoming your own pilot for your travels. If you’ve considered buying your own plane or have already decided to, it is an expensive endeavor. Cutting costs in any way, shape, and size becomes important. Fortunately, there are some tips to follow when buying your own aircraft that will help you save money. They are as follows.

Tip #1

The first thing you can do is to evaluate the features that you want in an airplane. Think about all of the equipment inside and outside the aircraft. Components of the aircraft such as engine power, the size of the aircraft, the number of seats within, the type of electrical system installed, how many gallons of gas per hour, and the building materials that make up the plane contribute to the cost of the vehicle. Analyzing these items and figuring out which ones don’t need to be top-of-the-line for you can greatly reduce the price tag on your airplane. Considering a smaller plane or a one-seater aircraft could save you several dollars. Also, buying a plane made with less sleek metals, or a plane without a fancy paint job could save you some pennies as well. Less engine power and a standard electrical system will make for a cheaper airplane purchase.

Tip #2

Secondly, finding a used airplane vendor (or simply a dealer who is known to make reasonable sales) will help you save money as well. Similar to buying an automotive car, it is usually cheaper to buy used instead of brand new. Do thorough research on the sellers in your area, and if you can’t find anything reasonable, you can broaden your search. It might be worth your while to go out of town to buy your plane if it means you got a really good deal. Make sure that you are buying from a trusted vendor or dealer so you won’t run into a need for expensive corrections later on in your ownership.

Tip #3

One final tip for saving money when buying an aircraft is that you can learn how to do the airplane maintenance and repairs yourself avoid paying a mechanic to do them. Especially if you followed money-saving tip #2 previously mentioned and you purchase a used aircraft, there will most likely be some simple maintenance needed. Read books and pamphlets on the mechanics of an airplane and watch how-to videos about repairs and maintenance. Going to a mechanic shop will cost you a pretty penny because they will include labor cost as well as the price of the machine parts and sales taxes. So being able to work on your own plane and fix it up will allow you to keep those extra dollars in your pocket.

 

Of course, buying a plane is a big decision financially, and you don’t want to be too sparing with your money as to get a shoddy aircraft. But there are definitely frugal ways to go about your purchase. If you follow these tips, then you will be well on your way to making a financially wise purchase.