Top Tips for A Better Aircraft Buying Experience
Buying an aircraft is no small purchase and it usually comes with a pretty hefty price tag. As with any large purchase, it’s important to be smart about the process from beginning to end. Specifically, it’s important to assemble the perfect team of experts that have your best interest in mind.
The right lawyer is a very important member of that team, in addition to the best brokers and the best aircraft technicians. But there are so many other aspects that go into buying a private jet. So we’ve put together a comprehensive list of tips to help you make the best decisions when it comes to purchasing an aircraft.
1. Hire the right people:
The first thing our professionals tell our clients is that hiring building the right team for your aircraft purchase is absolutely paramount. The aircraft broker is the team lead, taking over for the client as the spokesperson and making sure that the deal is fair and good for the client. A good broker, like the ones at Miami Jet, know the value of the aircraft in question & the best aircraft for the clients needs.
2. Avoid these pitfalls:
There are a number of “dealbreakers” and “pitfalls” that can mean the death of the sale or a bad experience for both the buyer and the seller, so what are they?
– Failing to fully plan the sale.
– Failing to focus on the type of aircraft needed.
– Failing to plan for sales & use taxes.
– Failing to perform due diligence on the aircraft, the title, and it’s seller. We always try to dissuade our clients from purchasing aircrafts with any cloudy information associated with them.
3. Don’t try to save money by trying to do the accounting yourself:
There are tons of mistakes that can happen when DIYers and CPAs try to do their own accounting during an aircraft purchase. Due to the complexity, it’s really a case where specialists are needed. Private jets are a high-value item, simply filling up the gas tank costs thousands of dollars. So why would you skimp when it comes to the financial management of the aircraft sale… better to keep everything on the up and up.
So, final words of wisdom from the Miami Jet team – always plan ahead, always hire the right team & always make sure that the financials are handled by someone who is qualified for this type of sale & tax situation.
Whether you were aware of these important tips or not, hiring the right aircraft broker can be the difference between an easy, smooth sale and an absolute nightmare. Miami Jet is your trusted name in aviation. Our expert team of Private Aircraft brokers has the skill & experience to make the process of purchasing an aircraft as easy as 1, 2, 3. Browse our unmatched inventory of available aircraft or contact us today so we can help you find your perfect jet.