Welcome to this week’s edition of “Clearance to Fly” sponsored by FLYING Finance. Today, we’re diving into a crucial topic for anyone looking to buy an aircraft: pre-purchase inspections. As both a pilot and someone deeply involved in aircraft transactions, I can’t stress enough how important these inspections are.
Let’s face it – buying an aircraft is a big deal. It’s not like picking up a used car where you can kick the tires and take it for a quick spin around the block. There’s a lot more at stake, both financially and safety-wise. That’s where a thorough pre-buy inspection comes in.
The goal of a pre-buy is to uncover any issues with the aircraft before you hand over your hard-earned cash. It’s your chance to really look under the hood (or cowling, in this case) and see what you’re getting into. A good inspection will cover everything from the airframe to the avionics, engines to interiors.
One key aspect to understand is the difference between airworthy and non-airworthy items. Airworthy items are those that directly affect the aircraft’s ability to fly safely and legally. These are the big-ticket concerns that need to be addressed before the plane can take to the skies. Non-airworthy items, on the other hand, might be cosmetic or comfort-related issues. They’re still important, but they won’t ground the aircraft.
When it comes to engines, compression checks are a crucial part of any pre-buy. These tests give insight into the health of the cylinders and valves. Low compression could indicate wear or damage that might lead to expensive repairs down the line. It’s not just about the numbers, though – an experienced mechanic can interpret the results and give you a real sense of the engine’s condition.
Corrosion is another major concern, especially for older aircraft or those that have spent time in coastal environments. Corrosion can lurk in hidden places, slowly eating away at critical structures. A thorough inspection will look for signs of corrosion throughout the airframe, from the fuselage to control surfaces.
Now, I know what some of you might be thinking – “This all sounds expensive and time-consuming.” And you’re not wrong. A good pre-buy inspection isn’t cheap or quick. But consider this: the cost of an inspection is a drop in the bucket compared to the potential expenses of major repairs or, worse, safety issues down the line.
At FLYING Finance, we see the value of pre-buy inspections every day. As an aircraft finance brokerage, we want our clients to make informed decisions and protect their investments. That’s why we’ve even developed our own pre-buy form that we’re happy to share with potential buyers. It’s a comprehensive checklist that can help guide you through the inspection process. Email me and I would be happy to share the document.
Remember, a pre-buy inspection isn’t about trying to kill the deal. It’s about giving you, the buyer, all the information you need to make a smart decision. Maybe the inspection uncovers issues that the seller agrees to fix. Or perhaps it gives you leverage to negotiate a better price. In some cases, it might reveal problems that make you walk away – and that’s okay too. It’s far better to know about major issues before you buy than to discover them after you’ve already committed your money.
So, if you’re in the market for an aircraft, don’t skip the pre-buy inspection. It’s an investment in your safety, your peace of mind, and your wallet. And if you need help financing that dream plane, give us a shout at FLYING Finance. We’re here to help make your aviation goals a reality.
Fly safe, and we’ll catch you next time.
P.S. Got questions about aircraft financing or the purchasing process? Drop us a line at FLYING Finance. We’re always happy to chat about planes and how to get you into the cockpit of your dreams! 423-558-2024
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Keller Laseter, Chief Commercial Officer, FLYING Finance
Bringing over 10 years of aviation experience and multiple years in finance, Keller Laseter combines both of those skills to be FLYING Finance’s CCO. His leading knowledge in all categories and classes of fixed wing aircraft helps guide you through the finance process with ease and will leave you knowing you’re in great hands. Keller holds type ratings in the Beechjet 400A/XP/NXT, Embraer E-175 and has many hours in King Airs, along with other high-performance aircraft. Throughout his career, he’s had the opportunity to enjoy the world of aviation and many different operations. As an ATP, CFI, and CFII, aviation is in his blood.
