Similar to autos, when you buy a new aircraft, there's some level of depreciation that happens at the onset. Usually, it's in the first five years that the depreciation curve is the steepest. Therefore, buying a used turbine aircraft will save on the initial costs.
A used, late ’90s/early 2000s TBM, Meridian or Pilatus may fit your mission just as well as a new one. They're still just as capable, but at a more affordable price, which means a lower monthly payment and less to insure.
Turboprop aircraft have different maintenance schedules than piston aircraft, specifically on the engines themselves. That’s why, prior to purchasing a used turboprop, it’s vital to obtain a detailed pre-purchase inspection. It will tell you about the quality of the maintenance that's been done on the aircraft, as well as highlight any upcoming maintenance that will come into play. The quality of previous maintenance and where the airplane is in its maintenance schedule are key things to be aware of with turboprops especially.
An ideal time to acquire a turboprop is often right after the hot section inspection has been completed on the engine. Doing so provides insight into the current condition of the engine, and a sense of its remaining life. With the inspection recently completed, it’s one less item on the short-list of upcoming expenses. Plus, it also means you've got some good flying hours left before the next set of inspections come due.
Often, the cost to insure may be less on a used aircraft than a new one because the price point is lower compared to brand new. If you are a less-experienced turboprop pilot—for example, you've got some time, but don't have hundreds or thousands of hours in type —it might be advantageous for you to get into something that is not quite as expensive, allowing you to pay less for building time and experience.
Great advice. Great rates. Helpful and responsive reps you can trust. Three good reasons to turn to AOPA Aviation Finance when you are buying or refinancing an airplane. If you need a dependable source of financing with people who are on your side, just call 800.62.PLANE (800.627.5263), or click here to request a quote.
