How to BUY YOUR FIRST PLANE 

I can’t even afford a car why am I watching this ?

Him: You don’t buy a truck to bring your kids to school in the morning Americans: *sweating*

Step 1. Have money Step 2. Have even more money

I'm watching this at 2am thinking "oh this is useful"... when I can't even afford a plane ticket at the moment with my business collapsing due to the pandemic... *sigh*

When I was young my 'requirements list' for my bird was blue eyes, blonde, svelte and fun, now I am older and my 'requirements list' for my new bird is airspeed, range and glide slope ratio....

Great great great advise and you hit every item on someone’s checklist on how to go about buying an airplane.

"there's nothing like getting into the airplane and your headset is already plugged in" That is probably one of the main reasons I went with sole ownership of an SR22. Great video, great questions. I too went through my first purchase last year. It was enlightening, frightening, frustrating, enraging (met one sleaze bag I'm glad I didn't buy from), educational and in the end extremely rewarding.

I rented for a long time but got frustrated at not being able to do long trips. The only rental options were flight schools where students have to come first. Then there were the strict rental policies: a written exam to blow your nose, and a check ride to sneeze... I set a budget that included most of the usual GA suspects: Cherokee, 172, AA5, Sundowner, etc. Something like an Arrow or a Cardinal wasn't out of the question. A share in an Arrow or a Cardinal would have me reaching for my checkbook. I ended up with a charming old Beech 23 Musketeer, bought from some nice local fellows who weren't flying it enough. Look over the plane and documents, test flight, research issues and ADs, pre-purchase inspection, deal! Along the way I flew a Citabria to get a taste of what taildraggers were like. A 152 would suit me fine except I'm a very tight fit and was concerned about getting out quickly in an emergency. The Tomahawk was interesting but there aren't many around. Financially, it's utter nonsense. None of which matters when I line up on the runway. :-)

Almost 10 years ago I almost got my PPL, so close. A few months ago I was unexpectedly spending a few days in hospital, watching life pass me by and Stefan you reignited the dream. I’m finishing it! See you at YMMB one day. Thanks :)

Great video and advice! I have owned an airplane where it was located at an airport nearby and I now own an airplane and I live on an airpark. I cannot tell you how incredible it is to just pull your plane out, take off and go where you need to go. It is pure freedom. And the ability to just step into the hangar at any time to tinker with the plane, polish it, work with the avionics, etc is completely next level in the aviation game. Good luck with the SR22. Gorgeous plane!

The old saying in aviation is to wind up with a million you need to start with 2 million.

THIS IS A VERY GOOD CONTENT

I have just ordered my A-380. Thanks for the guide.

and I was just about to sign on the dotted line ... Good vid Stef, Philippe is a cool guy!

Extremely helpful! I’ve been loving your content recently, and found the flight sim week hilarious to watch! Add Utah to your round the world flight, we’ve got some incredible mountain flying over here 🤙🏻

This is a great video and Philippe’s advice is much appreciated. Thank you for sharing Stefan!

Thanks Stefan! Always great content and love the channel.

Best video I have seen on this topic, well done Stef.

Excellent questions, thank you for the video, gave me a lot of perspective!!

Very interesting. Lots of great information. Thanks Stefan and Phillippe. Stay healthy.

I like the subtle "dial-up modem" sound when you were connecting with your buddy.

Another great video from one of the greatest youtubers ever! Sick editing skills mate!

Thanks! Just bought a plane for personal! Gonna whip this thang to school every day skrt skrt!

Thx I recently bought a a380 thanks to this video

Biggin Hill is a fantastic airshow, I was so disappointed when it ceased happening a while back. Thankfully it was reintroduced fairly recently, one of my favourite memories was seeing The Reds in formation with a Virgin Atlantic 747-400. Miss Demeanour was always a crowd favourite with her colourful livery!

Very good , informative , you asked all the right questions , same questions asked when I was pondering that path . Love the channel Stef . Happy flying 😊

all the good stuff i had considered before making the decision on buying my first plane soon mate so really enjoyed the segment :)

Thank you so much for all the information, and another great video. Can’t wait to see the future with EYZ! 😊

Sensational video Stef as always Thank you I really liked this one 👌

Very helpful! Thanks so much for this video! Great job!

I remember you spoke to me about Biggin Hill earlier this year !! Also you have more hair now than that great photo of you as a youngster !! Ok I am jealous !! Most informative as always mate and cannot wait to see you back in the air...hopefully sooner than later !! Trust all is well at home !!

dude! Thanlk you so much for your videos!!! They are great quality! keep up the amazing work! - FROM a Fellow aviator in Melbourne!!!

Amazing video mate, thanks for keeping my lamp of inspiration burning on this

Great video Stef, Thanks for the tips it'll help me buy my dream PC-12!

When I finished my PPL I was lucky enough to buy a piper Tomahawk for my hour building. Then sell it 25 hours later for my dream airplane, a comanche. I will never go back to renting. The rewardingness and the freedom of flying my own plane far outweighs the cost benefit of renting.

This is extremely informative. Thanks for a great video Stef. It hits home for for me because I know, living in the Adirondacks of NY, I know my ultimate goal is a STOL and water capable aircraft so I can find remote beaches relatively near me, so cross country speed is not my concern at all. I need back country performance and fuel efficiency. I have the fortune of being good friends with an A&P mechanic that can help with pre-examining an potential purchase. Still a long way away, but that's the goal. Thanks again for the encouraging content.

This is a pretty good video Stef, as always. I'd recommend taking a look at the cost breakdown done by friendly skies film as it shows that owning can be cheaper than renting. And even cheaper than an SUV if you want it to be.

SO refreshing to learn how some real-world questions can be unpacked, when seriously considering ownership or rental. Thanks, Stef. CAVU. 😎👍

I'm planning to do my flight training by buying my own plane and hiring my own instructor. This video really helped me gain that confidence to buy.

The Dial Up Connection tone was the best!

Excellent video - highly relavent information delivered concisely in a short period of time.

Stef I’ve been listening to the Australian Aviation magazine podcasts and they had a good discussion about private pilots getting out there and still flying. I think you consider it now too.

I like to fly every week and wanted a plane that didn't cost me my first born! Plus I like it clean and neat and don't share well. Thanks

Interesting video with a good input from Philippe. Sound advice but from my experience the permit aircraft i have owned have always appreciated in value over time. True, it might be cheaper to rent in terms of the hours flown but there again I can fly a short distance and spend a day on the ground without having to worry about block times etc. Out of lockdown I can also turn up and fly whenever and wherever I want.

Hi mate. Thanks for this explanation. I would have liked to see some more specifics on financials, but I understand why you wouldn't want to present then :) The metric at the end about flying hours and your point about a flying school /rental place not wanting to rent you an aircraft for 4 hours flight time for 4 or 5 days is a key point. Thanks, great video. Subscribed.

I was litterally about to buy a airplane when you made this

It wsa very informative. Thanks a lot Stefan.

Excellent video ... much appreciated. Thanks!

Hi Stef... Amazing video! You almost got me to the point of almost wanting to buy a plane... I was this close. Take care and see ya in a future video.

Stefan - Great insight! Can you also do a video on your experience owning the SR22? What have you liked? What's been a pain with respect to maintenance or financially? That's the bird I would like to own but would like to know your experience. I thought I heard you make a comment that you have a management company that oversees that. Thanks for the great content!

Great video Steph...it would be interesting to know your figures for EYZ to get some idea of how much it costs to own and maintain a cirrus.

Great content and Philippe was awesome

Something i have been thinking about for a good few years now as i am not a fan of renting some beaten aircraft from a flight school and having to pay their extorniate annual membership just for the privilege of 2 hours or so a month. Good video Stefan.Hope you good down there.

Thanks for giving me some info on how to buy an aircraft Stef!

I'll probably buy an f4 for sure. Thanks for the tutorial.

Thanks for such a great and very informative video. Perhaps you could make a video about your own situation and finances to make a really detailed video on costs owning a plane like yours with the flying you do🙈

Great Video. Thanks for the information.

living the dream....on ya mate!

Thanks Stefan ..im close to buying my first plane...was going to before this virus started but gotta make sure it cool, now!!

Great video. Another factor against renting is that it’s hard to find most planes available for rent. Sure you can find a Cherokee, a 172 or an SR20-SR22T even, but I haven’t seen anything beyond that typically for rent. So if you need a different plane, renting is not an option.

Awesome you fly and own your own aircraft!

Wonderful video and clarity

Really good informative video & well put together . Enjoyed the broker’s input & clarity to decision making . However only wished that you would have talked about insurance cost based on models , pilot experience , location etc .

First few minutes, and thats Aussie video.. Lets do it!

Just ordered my B-2 bomber. Thank you guys 😇

Great information. - renting - shared ownership * - non-equity group * - outright ownership - part-owner * I like the shared and group with options to fly specifically for various activities.

Thanks for the nice ince info...

Great video Stefan I reckon Step 1 - how much can I afford Step 2 - how much do I actually want to spend! Step 3 - Do I want to sink capital and have fixed costs? Also, can I afford to pay for an unexpected BIG cost - these can be very big! The mission and list of must / should haves are really good tips but be honest with yourself. A good first question is - am I going to use this as a means of transport or just for the fun / challenge of flying. I got my PPL after retiring early and was sure that I wanted to buy a plane for the freedom that would give me. Luckily I bumped into someone who was a part owner in a group of 5 that had a share for sale. I liked that they checked ME out as much as I checked the plane. I did the deal and have not regretted it for a single moment as availability is excellent and I only pay 1/5th of the fixed costs. The plane is a really nice Archer that has been well maintained and has IFR avionics. For a group I think the number 1 aim is to have like minded people. No good having one person who wants to spend as little as possible when the others want to have everything that needs doing, done asap. I really enjoy interacting with my co-owners and fly with one of them all the time. If you are looking to buy a share, try to find a plane that has had some money spent on it as the cost is never reflected fully in the value. Plus you should be able to buy a say 20% share for less than 20% of the sale value of the plane - not sure why that is but it seems to be the case. If you are not sure of your mission then I think a non-equity group is a good place to go as you fly the same plane every time, it is likely to be much nicer than a typical rental and you can walk away if the plane ends up not meeting your mission or you just fancy something different

Great information!

The PA28 Cherokee , I believe is the best practical family aircraft, that has operated over the last 60 years. The PA28 has a great track record for corrosion free, airframe. Shows an honest 100kts indicated. Excellent short field landing aircraft. especially with 3 POW and 10 gallon tanks either side. 600 yard strips fine if you know how to fly the PA28. Excellent spinning aircraft, and very stable in fully developed power on stalls.The 0320 Lycoming's are bullet proof. The maintenance much lower then a C172. retired CPL

I can't afford to upgrade MSFS for the SR22 in that, let alone a real one, yet I here I am learning how to buy a plane.

Super super helpful video! Thank you!

Thank you Stefan, that was very helpful. Just to have an idea could you let us know how many hours you fly with your cirrus sr22 and how much the overall yearly cost is including hangar, maintenance, insurance, fuel etc. Thanks again, Sam

My 2 are the Archer 181 2007 upwards and the Cirrus SR22 also 07 upwards

Useful video thanks, but for those flying less than 60 hours or so, sharing is a great option. Your headset may not be plugged in and your sunglasses may not be in the pouch, but it’s still way better than renting. Also, being involved in the total care of an aircraft increases the enjoyment of the whole flying experience.

Well done thanks

I was just thinking about this the other day...

The TBM 940 meets every requirement I could want out of an aircraft. Unfortunately my budget is Cessna 152 money. All I have to do is start my own, lucrative business and become a millionaire.....GOALS

I came across a plane for sale on FB marketplace about 2 years ago. The price was really low, but the plane had good bones and the prior owner was a well respected A&P who’d recently passed away. His widow was selling it. I bought it, put $4k into the first annual and had my first plane. I sold it shortly afterwards, used those funds to buy my second plane. Seriously considering selling it since GA prices are through the roof in the US and seeing if I can get a third, more capable aircraft.

Most people watching this aren’t watching it to actually buy a plane but because it’s cool.

Great video. Much appreciated. I like that 60 hour rule. Of course that's about what is needed just to get licensed in USA so wonder if buying while learning is a better way to go? Thoughts?

Woohoo I did my rent v buy spreadsheet last week and got 65hrs as the sweet spot to buy over rent too. I got a 2 part shared ownership model at about 45hrs crossover

Great video

I wanted low wing, stick not yoke and modern avionics. Originally I wanted IFR but that'll be plane #2. Very happy with plane #1

Very useful info

Hey Stefan! Came across your video while watching videos for my aviation maintenance school. I’ve definitely considered becoming a pilot after I’m graduated, and just wanted to say thanks for a great vid. Buying an aircraft wasn’t something I’ve ever considered but now I’m thinking about maybe making a purchase!

I will definitely be buying an aircraft some day, but my fiance says we need a home first!! Hard to argue with her when she's so supportive of flying though!

Mission (type of flying) can also impact solely whether to buy or rent regardless of aircraft. Many FBOs have requirements for long distance. For example, one will not let you take the 2016 172/g over night and more than a few hundred miles unless you hav an IFR rating. Two reasons, first it is in more capable hands from a professional corporate perspective and two, it’s a populär rental. You would have better luck in the old steam gauge 172s but performance is down and they are pretty drab inside. The other place I rented when Ibeas a new pilot, let me take the DA40 overnight but I also had a working relationship with them. Short version, even if you are flying a bit less than the numbers in the video, ownership may be the better option if the majority of your flights are cross country.

excellent vid

It’s about how many hours you do but most importantly that you need a very bloody good reason to buy ie for an actual purpose ... after owning three aircraft in my 30yrs of flying if you don’t have a reason and I don’t mean “I just want to fly” then it’s not a good decision to buy. There can often be so many surprise expenses that come up at annual inspection time or worse just in general operation that it can really hurt especially if your not well set financially.

you should do a video where you fly to albury then to corowa ten back to albury.

Quality info - thanks again! I was thinking about a twin - in particular the Diamond DA-62 and wondered if you had a chance to fly it or an opinion about it. I'm interested because I also want to eventually fly around the world and I live in a place where there is PLENTY of water and mountains - hence the attraction of 2 engines. In terms of mission, I have a trip I need to make (post Covid-19) about 10 times per year that is approximately 1000 nm although I'm in no particular rush and don't have a problem making a stop along the way. I appreciate any thoughts. Cheers.

Nice video, although I wish you guys did discuss UltraLite flying. I know that in America, that is the cheapest way if you’re recreationally flying. I know that Australia has a lot of laws, but looks like they might be getting changed. And you can always bend them anyway, who would know. And yes I condone that in aviation as long as you don’t hurt or in danger other people. So for any of those who do that, use your own strips, stay away from built-up areas, and keep other people safe. Bending rules is okay sometimes, but putting other people in danger is never okay.But here is the question: if you want to do all this stuff legally, would it cost about the same in Australia to operate an ultralight? I know it will cost more with the licensing and stuff, but would it be around about the same, or would there be hidden costs in Australia.

1:07 🤔 wasn't that KJN (kilo Juliet November)

Another thought ( because I’ve been here): if you’re buying an older aircraft intending to restore it then it’s far far cheaper to buy someone else’s restoration. You will never get your investment dollars back.

Great info! Just got to win tattslotto now.

31st Also love your vids Stefan you have been one of the many aviation RU-vidrs to make want to become a pilot and so far the most informative (the second being captain Joe who taught me how to use papi lights) But as I am only a child they shall just be dreams for now

For taking trips to vacation even for a long weekend, renting makes zero sense. Flight schools make it clear they don't want you using their plane for that. I might be one of very few but I came out ahead after buying a low hour Mooney M20F from an American Airlines pilot. Ugly paint and interior but it had all the LoPresti speed mods including the cowl, good bones at a great price with low hours on the engine. I spent about 20% updating the plane (new paint, windows, & interior, upgraded autopilot, weather, & navs). Flew it for about 450 hours and got every penny out of it when I sold it. Cruise @ 160 knots on 10 gph! There are deals out there you just need to be diligent.

Stefan, when you say managed by Blue Demon, can you explain what you mean? Is it that you pay them a charge to look after EYZ? Thanks!

Big benefit for me is I'm saving to first buy home with good amount of flat land go for pilot license then when I find perfect plane for me I can tarp it and have hangar built free hangaring cuts out biggest cost