So you’ve got your PPL. Congratulations. Now you want to buy an aircraft share. What do you need to think about? I’ve tried to summarise key considerations in this blog but the most important advice is to avoid an impulse buy, and get advice – your instructor may be a good starting point n how groups work, and a licensed engineer may be able to help on the technical and mechanical aspects.
Firstly the aircraft – is it what you need?
What is your ‘mission’ and is the aircraft suitable for that. Local bimbling or hour-building on your own, VFR touring with family, IFR training and flights will each set different requirements. If it doesn’t meet your needs, you’ll get frustrated. If it exceeds your requirements by a long way, you are paying for capability you don’t use.
Is it a match for your abilities? A modest step-up is a reasonable ambition, but a big ‘step-up’ in performance or complexity may require a lot of additional training and mentored flights before you can head off on your own. The insurance company may also set a certain level of experience.
If you are considering something more exotic that a Cessna 172 or a PA 28, do your homework – find out about handling characteristics, known issues, maintenance costs etc. See and buy before you fly. If you’re starting a group, then follow all the advice about buying an aircraft outright – pre-purchase inspection, through review of maintenance records etc.
Secondly the budget – how much can you afford to spend?
Always buy comfortably within your means. With the best will in the world, there will be unforeseen costs, even in something as routine as a 50 hour check.
In most groups, you will pay a lump sum for your share, a fixed monthly charge to cover fixed costs like hangarage, insurance and annual maintenance, and an hourly rate which typically covers oil, fuel and the 50 hours maintenance checks. But some groups have different arrangements which may be more or less advantageous to a frequent or infrequent user.
Ask how the group funds upgrades and replacements. An inevitable big cost is the periodic engine replacement. Current regulations allow you to run an engine past TBO hours and calendar life, subject to annual checks, but the older an engine gets, the more likely that something can go wrong. A well-run group will put aside money from the hourly rate to contribute to an ‘engine fund’, and may have a fund to replace old tech with new. If that is not the case, I would shy away from an aircraft with a very high hours engine.
If you are the rookie pilot, the insurers may increase the premium and a group may expect you to cover the difference.
Thirdly the group – what is the group ethos? Sharing with like-minded people is important to avoid friction and disappointment later.
What is their attitude to upgrades and non-essential repairs? Are they a group who want to fly as cheaply as possible, and if that means a scruffy aeroplane, so be it. At the other extreme, are groups owning a cherished asset to be handled with kid gloves. A happy medium is a group which wants their investment to maintain value and are they willing to upgrade things periodically. If your ambitions and skills are different to the others, you may have different views on non-essential repairs, upgrades and investments.
Understand how much the other group members fly. For you, the ideal might be members who don’t fly much but always pay their bills. On the other hand, several frequent users might impact your plans, and a fair booking system will be essential.
Some groups are highly social, which means potentially you have a buddies with whom to share the cost and pleasure of flying. Does that matter to you? Do they have a preferred instructor for training and checkouts, or better still an instructor who is a group member?
Fourthly, where is it based?
An aircraft close to home will get flown more than one which is an hour’s drive away. Is the airfield suitable for your kind of flying – do you need access out of hours, the ability to land at night and in all weather? What landing fees are you going to be paying?
Fifthly, understand the group rules
There are many things to consider here…… the group’s currency rules? How are decisions made? Does the group hold regular meetings? What paperwork and log-book keeping do you need to do? How are bookings made? Is there a fair use policy to ensure 1 or 2 people don’t hog the aircraft? Can you sell your share to anyone you choose, or does the group set the sale price and vet potential new members? Who manages the money and maintenance?
Many groups use a first-come first served online booking system but have some proviso to ensure fair use and allow members to take the aircraft away for longer trips.