How to Buy an Airplane: Lessons From Owners, Builders and an Insurer
Buying an airplane is easy to get wrong. Owners who have bought a dozen airplanes, builders, an aviation insurance executive and the CEO of Cirrus have shared what they know on Pilot to Pilot.
Start with the mission
Mark Woglom, who has owned about a dozen airplanes in 25 years, weighs finances, features and function, and says the mission, what you actually need the airplane to do, is the part buyers overlook most. He calls it buying with your head instead of your heart.
Justin is going through it himself in the magazine series “We Are Going to Buy a Plane,” starting in Volume 004.
Compare real numbers
Mark is skeptical of manufacturer range claims, broker pitches and forum opinions, and compares airplanes using a normalized fuel reserve.
Budget for the real cost of ownership
Mark shares rules of thumb for insurance, capital cost, maintenance and hidden costs. Charlie Gasmire talks through moving from renting to owning a Cessna 182 and the costs he didn’t expect. Tom compares owning a Cessna 150 and later a Mooney. Avemco Senior Vice President Marci Veronie explains why 60% of pilots leave money on the table every year.
Or build one
Carson Stilson built a Zenith Super Duty in about 1,200 hours over two and a half years while working full time and raising two kids. Erin and Paul built a Bearhawk 5 with a builder assist program. Both flew their finished airplanes to Oshkosh.
Step up wisely
Former Cirrus Logic CEO Jason Rhode moved up through a DA40, DA62, Kodiak and TBM to a Citation CJ3+, and describes the work it took to find an insurance underwriter for the jet transition. Mark earned a type rating in his mid-fifties. Cirrus CEO Zean Nielsen talks about the G7 and the company’s focus on safety and training.
Frequently asked questions
How do I choose the right airplane?
Mark Woglom recommends weighing finances, features and function together, starting with the mission: what you actually need the airplane to do.
Should I build or buy an airplane?
Carson Stilson built a Zenith in about 1,200 hours; Erin and Paul built a Bearhawk 5 with a builder assist program. Their episodes cover what building really involves.
Is it hard to insure a jet?
Jason Rhode describes how finding an insurance underwriter for his jet transition took real effort.
