Did you know that the average single-engine plane costs between $15,000 to $100,000 and multi-engines planes cost between $75,000 to $300,000? If you are contemplating buying an aircraft yourself and are comparing between new and used aircrafts, you are in the right place.
Keep reading to learn everything you want to know before making such a big decision.
A lot of people love buying new because of the continued relationship with the dealer or manufacturer. Usually, dealers and manufacturers will offer support while you own the aircraft which will lead to a long-term relationship. They will help with any technical issues, maintenance, and questions you have as they pop up.
With a new aircraft purchase, you will have peace of mind that your purchase comes with a warranty vs buying used where you do not receive the same type of warranty. Another reason that you might prefer to buy new is if you want to customize your aircraft.
The buyer is able to choose what they want on the plane, including the paint color, the type of wood, and the interior colors and materials. In most cases buying new means that you have to wait for the plane to be built to your customization.
One of the main cons of buying new is that the price and depreciation are high. The value of the plane will depreciate right after its first flight and it will usually put you in an upside-down situation right from the start unless you negotiated a really good deal.
Buying Used Aircrafts
One of the biggest benefits of buying used is that you will save money. You can use value reports to make educated research on the value of what you are planning on buying to make sure you are not overpaying.
Although you might not have the same level of service with the manufacturer or dealer that you buy it from, you will still have a relationship that you can build on. Keep in mind that buying new is the best way to get the ultimate red-carpet type of service.
A con worth mentioning is that you always run the risk of buying an aircraft that has undisclosed mechanical problems. The problem is that you won’t have a warranty with a used aircraft and this can cost you a ton of money to fix.
If you decide to buy used we highly recommend paying extra money to have an experienced inspector go through the aircraft to ensure that you are not wasting your money.
Ready to Make a Decision?
Now that you went over our guide above on the difference between buying new or used aircrafts, you can make an informed decision. There are always going to be advantages and disadvantages of either decision, just make sure that you pick the decision that will bring you the most joy.
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