Question: My wife and I are toying with the idea of becoming aircraft owners. I’m currently an AOPA member. Our mission would most likely be flying from Sacramento in Northern California to where most of our friends and family live in Southern California — mainly around Chino KCNO and Burbank KBUR airports with the seldom but possible trip further down to the Carlsbad KCRQ area.
My main profession is a Part 91 pilot flying an Embraer Praetor 600. I haven’t flown smaller, single-engine propeller planes in about five years. Another use for the aircraft would be to teach friends and family on the side. I’m thinking a little more speed and power than the typical trainer like a C172, but one that someone could still learn and become an aviator in.
One thing to note is that I am an A&P. Although not active anymore, I used to turn wrenches on small T-Hangar planes as well as Light Jets. I would not do most of the work (maybe), but plan to assist in annual inspections with a local trusted A&P and IA.
What insight can you provide in determining what kind of aircraft I should be shopping and financing for? I’m open to hearing all kinds of possibilities. My dream really would be to look for a Super Cub and fly backcountry, but that is too slow to commute far distances when needed. Also, what kind of tax benefits can that provide if I offer flight instruction with it? Any insight would be helpful.
Answer: A few alternative aircraft to a 172 are a Cessna 182, a Piper PA-28 Cherokee/Warrior/Archer, a Grumman Tiger, or a Cirrus SR20. Aircraft lenders will use the aircraft as collateral and file a lien at the FAA. Because they use the aircraft as collateral, they do have limits on the acceptable use of the aircraft. Providing flight training in the aircraft, or leasing the aircraft to a club or school limits the available lending options and changes the standard loan terms. It’s best to discuss these limitations and changes in detail before finalizing any purchase and financing plans for the aircraft. In general, lenders that finance piston aircraft struggle with owners operating the aircraft commercially, so the best route forward would be to use the plane only for your personal travel and recreational. If any type of leaseback or commercial operation is planned for the aircraft, after you confirm the options with your AOPA Finance representative, we recommend speaking with one of our Legal Services Plan attorneys. Consultation with these attorneys is attainable through membership in AOPA’s Pilot Protection Services.
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