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OK, you know that you want to buy an airplane, and you have defined your mission and know the airplane type you are looking for. The next decision is whether to shop for a new or used airplane. For many, that decision really won’t require a lot of thought. New airplanes are very expensive, and are simply out of the price range of many people. If you can’t afford a new airplane, though, the good news is that you are not necessarily eliminated from purchasing an airplane that is every bit as capable as a brand new airplane. Many airplanes currently being manufactured are older designs, and a number of models have been manufactured for decades. While there certainly are improvements between the brand-new airplane and an older version of the same model, the differences usually aren’t all that significant. Often, the most substantial difference between a new and old version of the same airplane is in the modern avionics that the new airplane will have. But the truth is that the older model of the airplane can be purchased and then stripped down, totally refurbished inside and out, all of the avionics updated to the latest and greatest, the engine freshly overhauled, and still be MUCH less expensive than purchasing the brand new version. On the other hand, some airplane models have not been in production for as long, and in these cases the cost differential between new and used will be somewhat less significant. The Cirrus line of airplanes have become among the most popular of single engine airplanes. They have been in production long enough that there are used models available, but they have not been in production long enough for the cost difference between used and new to be as significant as with other types which have been produced for far longer. Buying a new Beech Bonanza, for example, as compared to buying a 40-year-old Bonanza, will yield a much greater cost differential than buying a new vs. used Cirrus. But the 40-year-old Bonanza will provide nearly the same performance capabilities as the new Bonanza. In some cases, older models of a given airplane will actually outperform the newest model due to increases in weight that often occur as a design matures. There are situations in which it is necessary to buy new in order to acquire a specific airplane. Cessna’s new Light Sport, the SkyCatcher, will soon go into production. But there is a large backlog of orders for the SkyCatcher, and for a while, the only way to get one will be to purchase new. Eventually, of course, used models will be available, but it will likely be quite a while before used SkyCatchers will be available at prices significantly lower than the new airplane prices. There are, however, some advantages to buying new, even when an earlier model may be purchased for much less. In some situations, there may be tax advantages that help to justify the cost of a new airplane. Also, having a warranty will make it possible to project with great precision what the fixed costs of the airplane will be during the warranty period, whereas with a used airplane any maintenance surprises are paid for directly out of the owner’s pocket. And for some, the intangible benefits of owning and flying a brand new airplane may justify the extra cost. Knowing that no one other than the factory test pilot has flown your airplane, along with the thrill of owning a perfectly pristine, flawless airplane may be worth a great deal to many owners. |
