To determine a good price for an airplane, AirMart will compare it to similar aircraft currently on the market. We use market comps and evaluate how one plane stacks up against others with comparable year, make, model, equipment, and condition
Yes, AGL can run complimetnary valuations on aircraft you may be interested in purchasing with your loan pre-approval. We have access to an online valuation site called Vref.
Notify your lender of any damage history as soon as possible. Occasionally, damage history may impact your loan quote or the bank’s ability to finance the plane.
A pre-buy is typically a non-invasive evaluation focused on major components and high-cost items to help assess the aircraft’s overall condition before purchase. An annual inspection, on the other hand, is a more in-depth, invasive inspection required by the FAA and outlined by the manufacturer. It includes both a detailed inspection and routine servicing tasks.
It depends on the aircraft and the shop that performed the annual inspection, but AirMart always recommends a pre-buy inspection. Even with a fresh annual, a pre-buy ensures you’re comfortable with the aircraft’s condition and confident in your purchase.
Consider setting aside reserves and working with your lender to understand coverage expectations. Pre-buy inspections also reduce surprises.
Typically, aircraft purchases are “as-is.” Some sellers may offer a short-term warranty, but this is uncommon. Due diligence is your best protection.
Different banks have different reserve requirements (some banks don’t even have a reserve requirement). Generally speaking, most banks want to see that the borrower has enough cash to cover down payment. Depending on your lender, they may also want to see approximately 12-18 months of cash leftover after down payment.
Insurance/Finance Quote -> Loan Pre-Approval -> Shop for Aircraft -> Sign Purchase agreement -> Complete Pre-buy -> Close on aircraft and loan -> Take delivery, do transition training
Ongoing costs (insurance, hangar, maintenance, fuel, inspections) can equal or exceed your initial investment over time.
Beyond purchase price, include 10–20% annually for operating expenses. Include costs like hangar space, scheduled/unscheduled maintenance, insurance, and upgrades.
Yes, but the numbers can vary widely depending on the aircraft. The best approach is to give us a call so we can walk through the specifics based on the model you’re considering.
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