Question about purchasing an airplane.

I suggest you join AOPA. Subscribe Trade a Plane. Learn how to use TAP
appraiser. Find a purchase candidate. Do a title search on who
actually OWNS the plane, (AOPA). Use the AOPA guide to find a mechanic
(NOT the owners mechanic) and tell the mechanic to spend TWO hours
only, compression test, filter cut open and inspect log books. Also
general appearance of plane. Ask owner if EVERYTHING works. If
mechanic says OK, then you should go look at the plane. Test all
avionics, look at condition of paint etc. Fly it. If it meets your
specs, buy plane and fly it home, or have the owner fly it home with
you, or an instructor. Of course you need insurance. Get a quote from
AVEMCO and one other company. If you finance the bank will guide you
through the purchase procedure.
I cannot emphasize the compression test enough. Do at least two of
them. Also the filter cut open and look for oil leaks. Be willing to
turn plane down if engine doesn't meet specs (unless you want to
rebuild the engine immediately). Be aware that engines can be flown
over TBO, and they are "free" hours on engine as engine is already
depreciated. The turbo charged large engines are another matter. They
need cylinders and other work reguarly. But the small Lycomings
typically go past TBO. (360 and smaller). If they have good
compression and dont' burn oil an engine will usually make another 500
hours.

Don't buy a plane with a lot of defects and buy a plane with the
avionics you will be happy with in the future. Repairing planes is
another whole ball game and avionic upgrades are a money pit. Buy a
working plane, with the equipment you want. If it is a minor thing,
like a non-working ADF or something like that, and you are happy with
it, OK. But dont plan on fixing a bunch of broken stuff. They seller
should get the plane in working condition. I prefer that EVERYTHING
works. No exceptions. I'll tolerate worn upolstry and scuffed paint
etc, but all systems should function correctly. Beware of damage
history, though if it has been repaired proffessionally and the forms
file, some damage is ok. Most older planes have had some sort of
damage. There are pristine ones, but you will pay extra.

If you want as trouble free as possible, buy a late model used plane,
one only a few years old with a low time engine. But you will pay for
it and it will probably depreciate as you break it in and scuff it up.
They don't stay new for long. Dollar wise, the older planes will
depreciate less. Planes they don't make anymore but are desirable like
the Cessna 180/185's will probably depreciate the least.

The plane market is soft and probably headed up as the economy grows.
So now is a good time to buy. I hate to admit it, but you can probably
buy at 15% below appraised value right now (the TAP appraiser).
(Depends). The total number of planes advertised in TAP has been
dropping though, an indication the market is heading up.

Good luck and hope you have a lot of money. My Aviat Husky has cost me
$50 an hour to run for the past 4 1/2 years. But they have been the
most fun adventures I can imagine having right now in my life.

"Marco Rispoli" wrote in message .net...
I just got my license (you can find the story of my Presidential TFR
checkride here if your are curious:
http://www.thepilotlounge.com/script...?showtopic=665 )

I am starting to seriously look into owning a plane now.

I can't imagine myself renting anymore since prices are not that good,
renting is inconvenient and clubs are a better deal but they all have
minimum hours restrictions ...

One of the questions that has been mulling in my mind is this: suppose that
I find a plane. It's the model that I am looking for, good times, good
conditions (so the seller says) and good price. The plane is halfway across
the country though.

How do I go about getting it inspected? Do I call a local (to the plane)
mechanic and arrange a meeting between him, the seller and the plane? Do I
need to be there?

There's many steps to buying a plane. Title search, loan financing,
insurance, inspection and transfer of ownership.

When do I actually need to be there? If anybody ever purchased a plane from
far away, how did you handle it? Do you care to share the story?

Thank you!