Are you still thinking about what to do with your airplane?
This can be one of the most difficult decisions a pilot can make. On one hand, owning an aircraft is a unique experience that can bring great rewards. On the other hand, there comes a time when reality sets in and it just does not make sense anymore. The first thing you must do is treat aircraft ownership the same way you treat flying. Evaluate the situation on a non-emotional basis and then choose the best course of action.
Should I sell my plane, or should I keep it? A few things to consider:
How much am I using my plane? What is the true benefit?
- How many hours did I fly in the last 3 years, the last year, the last month?
- Where did I go and what did I accomplish?
How much money am I spending to own this airplane? What is the true cost?
- How much money did I spend on my plane in the last 3 years, last year, or last month?
- Did I fly enough to maintain a sufficient level of safety? Non-current pilots have more accidents.
- Is my plane flying enough to not cause additional maintenance concerns? They don’t store well.
- How much has my plane depreciated since I have owned it? According to the National Aircraft Appraisal Associations, aircraft values have dropped 35.63% in the last 6 years.
To properly evaluate the cost vs. the benefit, you must do the math!
If owning a plane makes sense... KEEP FLYING IT! If not... SELL IT!
If your decision is to sell, you have 3 options...
#1 Sell the airplane yourself - This may be the way to get the highest selling price!
- Determine the value of your airplane based on current economic conditions.
- Take digital pictures, scan all logbooks and advertise the airplane online.
- Be prepared to answer inquiries at all hours of the day and night.
- Show your airplane multiple times (Usually to several “interested” parties) .
- Most buyers will insist that their mechanic perform a pre-purchase inspection.
- Re - negotiate price after pre-purchase inspection results.
- Complete paperwork and verify purchaser’s funds.
- Consider the cost of neglecting your profession in exchange for attempting to sell an airplane. Are you going to receive enough additional proceeds to make up for lost production in your field of expertise?
#2 Hire a broker to attempt to sell your airplane – This is a very lengthy process with no guarantee!
- Aircraft brokers are a dime a dozen because there is no risk for brokering an airplane!
- Many brokers will “buy” a listing and suggest an asking price above the market value of your aircraft then after 30 days of unsuccessful marketing they suggest a price reduction.
- Do you leave the airplane with the broker or keep it at your hangar and schedule showings?
- If it takes 6 months to sell, how much more money did you really get for your plane after paying a 7% broker fee and paying all of the ownership costs? Your time and attention will be required throughout the sales process.
#3 Call us for a simple, smooth, easy sale of your airplane!
- Contact us and tell us about your airplane.
- We do the market analysis and make you a cash offer.
- We come to your airport, verify the information about your airplane and pay you with certified funds. No lengthy pre-purchase inspections! We know what we are looking at!
We are not a fancy FBO, flight school or shop. Aircraft sales is all we do. Our staff has over 30 years of aircraft sales experience with over 1,000 aircraft sold.
Contact us today for a free evaluation of your airplane.
Let's explore your options.
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