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The Final Countdown for 2024! TIME IS RUNNING OUT For 60% bonus depreciation! click here to see availability
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How To Buy Your First Plane Webinar

Presented by AGL & AirMart​

FAQ – Aircraft Financing, Pricing, and Ownership

Pricing, Valuation, and Appraisal

How do I know what a good price is for an airplane?

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

Are there any free appraisal tools or services available, such as aircraft appraisal apps?

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.

Damage History

How does damage history affect an aircraft’s value?
Damage history can affect an aircraft’s value depending on the severity of the damage, how recently it occurred, and who performed the repairs
What should I consider when assessing an airplane that has been damaged and repaired?

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.

Maintenance, Inspections, and Post-Purchase Protection

What is the difference between a pre-buy inspection and an annual inspection?

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.

If a plane comes with a fresh annual inspection, should I still conduct a pre-buy inspection?

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.

How can I protect myself from immediate or unexpected maintenance costs?

Consider setting aside reserves and working with your lender to understand coverage expectations. Pre-buy inspections also reduce surprises.

Are there any protections in place for mechanical issues within the first 30 days?

Typically, aircraft purchases are “as-is.” Some sellers may offer a short-term warranty, but this is uncommon. Due diligence is your best protection.

What are the typical reserve requirements for maintenance, insurance, inspections, registrations, etc.?

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.

Aircraft Acquisition Process

What is the correct end-to-end process for aircraft acquisition, including the sequence of steps (insurance, financing, inspection, transition training, etc.) and timing considerations?

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

Outside of mission-specific needs, what are the top two or three factors to consider when purchasing a first airplane?
Aside from mission-specific needs, the top factors to consider when buying your first airplane are your budget—both the purchase price and expected annual operating costs—and your long-term flying goals. It’s also smart to think about whether the aircraft can help you build experience and skills to transition into a more advanced airplane down the road.
What common surprises or pitfalls should buyers be aware of during the purchasing process?
If the transaction is handled properly, there shouldn’t be any major surprises or pitfalls. However, issues can arise when steps are rushed, skipped, or not professionally managed—so working with the right team is key.
What should I know about working with brokers during the purchasing process?
Not all brokers are created equal, so it’s important to do your homework. The right broker will guide you through the process, protect your interests, and make it one of the smoothest transactions you’ll ever experience.

Cost Management

How do acquisition costs compare to ongoing ownership costs?

Ongoing costs (insurance, hangar, maintenance, fuel, inspections) can equal or exceed your initial investment over time.

What should I realistically expect to spend overall?

Beyond purchase price, include 10–20% annually for operating expenses. Include costs like hangar space, scheduled/unscheduled maintenance, insurance, and upgrades.

Is there a worksheet or tool available to calculate all costs/expenses for purchasing and maintaining an aircraft annually?

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.

Financing and Tax Considerations

If financing is needed, what typical terms (e.g., duration, interest rates) should I expect?
  • This depends on many factors, such as the type of plane, the usage of the plane (i.e. personal use, flight school use, lease-back, etc), and the borrower’s financial situation.
  • For a well qualified customer purchasing a personal use aircraft, it is typical to see a 20 year amortization and 15-20% down payment.
What tax advantages are available for aircraft purchases?
Businesses may benefit from depreciation (e.g., bonus depreciation) and expense deductions. Work with a tax advisor to explore options.
How can I reduce sales or property tax liability?
Properly structuring the purchase and registration—especially through LLCs—can minimize tax exposure. Professional guidance is recommended.

Ownership Structures and Partnerships

How do I set up an LLC for aircraft ownership and business use?
Forming an LLC is straightforward and can provide liability protection and tax advantages. It’s especially helpful for business travel, instruction, or leaseback operations.
What is the best way to select, interview, and coordinate among potential partner owners for shared ownership?
From a finance perspective, there is high likelihood that all partners in the ownership will need to be borrowers on the loan. It is very important to select a partner that you expect will be long term and financially fit. If one of the partners wishes to exit the arrangement down the road, this will often require a refinance of the aircraft loan.

Usage and Storage

For aircraft used in time building, which plane type is best, and what are the associated costs?
Mainstream trainers are popular for time building for good reason: they’re reliable, economical, and easy to fly. That said, costs can vary depending on factors like location, aircraft condition, and how much you plan to fly.
How do storage options (e.g., storing a plane outside if hangar space is limited) impact the long-term investment?
Storage options can significantly impact your aircraft’s long-term value, especially if it’s stored outside. While some regions may have harsher environmental conditions than others, exposure to the elements can lead to increased wear and tear. Keeping a plane in a hangar is ideal for preserving its condition, but if it’s left on the ramp, the weather can cause more rapid deterioration.
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AIRMART AIRCRAFT SALES & BROKERAGE

4144 Aviator Rd #150
Lexington, KY 40510

Located at the Blue Grass Airport (KLEX)

Specifications for this aircraft are believed to be accurate but are not warranted. It is the responsibility of the buyer to confirm all specifications, equipment, and times. AirMart does not represent or warrant the working order, merchantability, or operability of any equipment. Airplanes are dynamic assets whose condition, availability, and details may change without notice. All information is subject to independent verification and inspection by the buyer. Availability cannot be guaranteed, as the aircraft may be sold, leased, or withdrawn from the market at any time.
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