Purchasing an airplane is a major investition and should be done with appropriate care. This is especially true if you are an inexperienced and/or first-time buyer. The sums involved are close to what one pays for a house, so, just as for real estate, getting an expert appraisal is the safest way to go. However, that is rather costly and not everyone feels they want to make that investition, especially when just buying a used light aircraft.

In order to help first-time buyers, there are the top things to look out for when purchasing an aircraft at an auction. A lot of them are similar to the recommendations for purchasing a used car, and in fact experienced pilots basically approach aircraft purchases in a similar way. Still, there are a few aircraft-specific points to pay attention to.

Take a good look at the maintenance history. Regular mechanical checkups should have been made. Pay particular attention to engine hours, equipment, airworthiness directives (ADs), damage history, paint, and interior. Be sure to ask for the number of prior owners. Several prior owners are likely to indicate prior problems with the aircraft.

If you find a good candidate, it’s time for a thorough visual inspection. Be sure to check struts (are they equally extended?), wings (corrosion, loose rivets), flaps (rust?), ailerons (any abnormal play if you push slightly?), doors and windows (should seal well), propeller (track, cracks?), engine (mounted solidly, any leaks, exhaust system ok?).

If possible, have the engine started and check how well it’s running. Any irregularities in the sound? Blue smoke from the exhaust pipe (oil, can mean that the engine is worn)? Excessive white smoke (may mean that coolant is leaking)?

When purchasing aircraft at auctions, start by observing. Attend the preview (usually held a while before the auction, and open to the general public). Stay cool during the auction, and decide what you want to bid beforehand. Never get into a bidding war, it’s a surefire way to buyer’s remorse.

Beware of any too-good-to-be-true claims. At an auction, odds are they are just that – not true. Liability for a seller at a public auction is relatively low, and two powerful words – “AS IS” – basically free the seller of any responsibility. It is up to you to pinpoint them on essential statements and be wary of any outrageous promises.

Should you win the bid, insist on a written contract, and ask that all important figures and claims are mentioned (e.g. about prior owners or repairs, engine hours, or the timespan until you get the plane). Don’t forget that the price you will pay is usually higher than the winning bid. Most auctions include a 5-10% buyer’s premium.

Consider purchasing title insurance along with accident and liability coverage. We have just touched the main points of buying a good aircraft, and there are still numerous issues that may remain undiscovered until after the purchase.

Do not be too hasty. Looking at some auctioned aircraft, you may get the feeling of a once-in-a-lifetime bargain, but in fact the market is pretty large and great opportunities are around all the time. It is best to observe a few auctions first to get a feel of the process, and only actively start bidding once you have a good idea of the market.

Buying a used aircraft is not as simple as buying a used car or even a boat. There are dozens of factors that you need to take in consideration when you are buying that aircraft that had been in the air for a long time.

The first thing that you need to do is to determine what used aircraft you will be buying. First time buyers always get lost here, there are thousands of models and types of aircrafts so; you need to make sure that you are buying the right airplane for you.

How long your trips are? If you are going to use your aircraft for long trips then you may want to keep this into your consideration when you are buying your used aircraft. The flying range of the airplane is always measured using three quarters of the plane engine. If most of the destinations you fly are near while only few of them are cross country flights then you may want to consider a short range aircraft and use the commercial flights for the long flights or consider stopping over for a refill. This will save you a lot of money because a short range used aircraft is much cheaper than a long range one.

Consider where you are going to buy your used aircraft from. There are several places where you can buy your used plane with peace of mind. Your first choice is always your aviation club in the local airstrip or the local airport. This always where you get the best price because you will know as soon as someone is willing to sell his aircraft. The only downside that you may face is the limitation of the models so; you need to be very flexible in order to buy from local clubs.

Another popular choice is to find a good dealer or a broker who is able to get you the used aircraft you want. This is one of the best choices because the broker is always able to search through a great inventory of planes and used aircrafts to find you your exact choice. The only downside of this method is that you will be paying an extra fee for the broker who will get you the plane.

It is very important to make sure that you are buying your used aircraft from the legal seller. Make sure that he holds all the legal documents and authorizations in order to sell this aircraft before you even attempt to pay a deposit. It is very important to make this step as early as possible in order to screen all the ineligible aircrafts out of the picture and only leave those who could be a potential purchase for you.