AHGUIDE
Pre-Purchase Inspection: How to Select a Pre-Owned Aircraft and Not Regret It
The purchase of an aircraft, especially a pre-owned aircraft, is a very complex process. In fact, purchasing a pre-owned aircraft often carries a little extra gravity, because while buying used can save you a lot of money, there is always risk in losing money through unforeseen repair costs. The only thing you can do to protect yourself in this situation is to perform a well-executed “Pre-Purchase Inspection”. This article will cover all you need to know about this process and discuss the importance of finding experienced professionals to conduct it. Before imaging all the ways your new aircraft can make your business and life easier, you will require a number of specialists to help you identify potential issues, mitigate any risk, and ensure that the purchase is conducted in a professional manner. Therefore, the Pre-Purchase Inspection (“PPI”) is an essential tool for due-diligence when determining the condition of a pre-owned aircraft before purchase. It is a thorough investigation with a nose-to-tail physical inspection of the aircraft, a comprehensive review of the maintenance records, and a cumulative flight test. So, let’s dive in and look at what exactly a qualitative PPI entails.
Step One: Assemble your Top Team We can call this step the “pre-inspection” to the Pre-Purchase Inspection! All jokes aside, this is an essential step that you must not skip while on your journey to finding the right business aircraft for you. The team you gather will lead you through the entire PPI process and therefore, should consist of specialists with comprehensive industry experience. Your team will include a technical advisor, the owner’s pilot (if possible), their financial advisor and lawyer. Together they provide you, as the future owner, with the guidance and critical insights needed to ensure the successful purchase of the aircraft. A PPI is performed once a candidate aircraft has been identified and, from the information received from the seller (or the seller’s broker), it is clear that the candidate meets the future owner’s expectations in terms of price, age, cabin layout, maintenance status, etc. WWW.AVIATIONHEAVEN.COM
