Presentation by:Mark Clark

President of Courtesy Aircraft Sales

Darcy Kaapke Marketing Director and Sales Support

PROCESS

PAPERWORK

PITFALLS

Other costs to remember: Down payment/Deposit Principal and interest on a loan

if taken Training Insurance Storage/Hanger Fees Maintenance and Inspections

i.e. Annuals, Condition Inspection, Unscheduled Maintenance, Airworthiness Directives, Life Limited Parts

FuelFuel burn per hour

TaxesVaries state to state- AOPA Website

There are a wide variety of warbirds for all pocketbook sizes-Aircraft prices can range from $30,000 - $2,000,000+

Standard Airworthiness CertificateSpecial Airworthiness Certificate

Limited Type Certificate (LTC)Issued to operate surplus military aircraft that have been converted to civilian use. Not for compensation or hire unless you have exemption from the FAA. This exemption is if the aircraft is used for educational or training purposes.25 Types i.e. B-25, P-51, P-40, B-17

Restricted CategoryLimited to special purposes including agricultural, forest and wildlife conservation, aerial surveying, patrolling, weather control, aerial advertising or any other operation specified by the Administrator. Not for carrying passengers.

ExperimentalResearch and development, crew training, exhibition, air racing, market surveys, and showing compliance with regulations.

*Some aircraft can be certified under 2 categories

Find Type and Model –Fighters, Trainers, Transports, Bombers, etc

Performance

Cruise

Avionics

Equipment

It is very important to find a qualified, knowledgeable broker. A knowledgeable broker will save you time and also money.

Characteristics of a qualified broker:

Qualify YOU for the aircraft. He/She considers the level of your pilot experience & price range.

Understands the current market and trends.

Can answer technical questions on the aircraft.

Can provide or find you training for your new aircraft.

Suggest mechanics.

Respectful. Buying/Selling an aircraft can be a difficult process for some individuals. People tend to have a special bond with their aircraft, which sometimes makes this an emotional process.

Plane Sense

FAA-H-8083-19ACan be Found: ASA, The Pilot Shop, etc.

Selecting the Aircraft

Aircraft Title

Aircraft Documents

Manuals

Maintenance

Airworthiness Certificate Engine and Airframe Logbooks Aircraft Equipment List Weight and Balance Data, Placards FAA Approved Airplane Flight Manual

and/or Pilot’s Operating Handbook

Ensure aircraft manufacturer and other manuals are transferred with the aircraft. If they are not available from the previous owner, you can usually obtain them from various companies.

Review the maintenance records to ensure they are complete and all inspections are current.

Condition Inspection Annual inspection Other required or approved inspections Examples: IFR, ELT

Total Time in Service (airframe, engines, propellers)

Current status of life-limited parts Current status of applicable Airworthiness

Directives Copy of current major alterations (337’s)

Before you buy an aircraft, you should always have a qualified mechanic give the aircraft an inspection and provide you with a written report of the condition.

Remember, these are vintage aircraft. Not everything is going to be perfect when it comes to maintenance. Make sure the appropriate mechanic is found for your pre-purchase inspection..

The mechanic needs to have specialized in this type of aircraft.

I guarantee a mechanic can find something wrong with EVERY Warbird- just don’t allow small maintenance issues to distract your focus.

Courtesy of TAP

Third August Issue, 2009.

Ensure the aircraft has a “clear title.”Find a Tile Company- Examples: Aerospace Reports, Aircraft Title, Insured Aircraft Title Sense, AOPA, Wright Brothers, etc. Need Make, Model, N# and Serial # of Aircraft. Price is usually $75-$100.

This indicates that there is no unreleased chattel mortgage, security agreement or a security document filed with the FAA Aircraft Registration Branch and found to meet recording requirements.

•This is your proof of purchase of the aircraft

•Protects your ownership interest

•Will be recorded with the FAA

It is a pilot’s dream to take ownership of an aircraft that

you can call your own, but there are some factors

that you need to keep in mind-

Patience is often needed when purchasing/selling a

warbird.

What can hold the transaction up?Liens on Aircraft

Bank Requirements

Financing

Insurance

Maintenance

Common Issues:Even though an aircraft has been bought and sold several times, it does not mean that the aircraft has “A Clear Title.”

Liens can be 30-40 years old on certain Warbirds.

A Lien was assigned to someone else.

Aircraft could have been leased. There could be a problem if the FAA never received a formal letter stating that the lease was terminated.

Paperwork has to match exactly what the FAA has in its records. If not, the corrected paperwork needs to be sent in.

Sorting out and finding banks from several years ago (some may no longer be in business, or bought out by another bank), correcting paperwork, and resubmitting to the FAA.

Owners: Do a Title Search on Your Aircraft if you haven't-

Have you ever heard the old saying…

When the paperwork weighs as much as the aircraft, you

are ready to go.

All Banks have a set list of what documents are required for an aircraft loan.

Common paperwork needed:Logbook EntriesProof of Clean Title Insurance

TALK TO YOUR BANK REPRESENTATIVE

He/She can provide you a list of what is required from you to receive the loan.

Some Banks Have a Minimum Dollar Amount

Depending on the terms of the purchase agreement/contract, many aircraft are sold with a fresh annual or the seller has agreed to have some work performed.

Depending on the work load of your mechanic- may not be able to work on your new aircraft right away.

Some unscheduled/unknown maintenance may need to be completed if a problem was found or an AD has not been complied with.