OK ladies........
Gaunty, rest assured just cause it ain't a Cessna, don't mean it's 'exotic'
......unless you want to get into definitions and then yes, it comes from outside this country so yes it is exotic. Sleep well, its only a Piper, and a quite common one at that. That is why I was surprised when the 'aviation specialist' solicitor did not know what it was.
My discretionary income is being applied, with LOTS of leeway for nasties, but the bulk of the risk is indeed falling upon the financiers. They are so far satisfied with my approach, which as you & I touched on briefly, revolves not around trying to make a buck out of an old aeroplane, but rather using an aeroplane as a business tool and personal pleasure. It ain't gettin' rented NOHOW!
My families abode is safe and sound and not in any way connected with this enterprise. Re buying an aeroplane as opposed to the various other options, for me it is a case of I don't NEED it - I WANT it. It will be residing in my collection for the foreseeable future. It will not increase in value - if I am lucky it might maintain its current worth but that is actually a decrease over the years with depreciation and inflation etc. The way I have set my finance up, I can pay for the thing whether it works or sits in the shed. I could indeed lease any number of the aircraft I see advertised in the Trader, but I do not wish to be held to a certain number of hours - I am doing 300-odd hr/yr privately as well as occasional charters, but if circumstances change I don't want a lease hanging over me.
Some folks buy boats or caravans or flash cars. I am buying an aeroplane.
Now, as to the POINT of the original post; thanks Gaunty for the info that there is not a register that will show whether it is in hock. There clearly should be.
NASA how do
you determine whether an aeroplane is encumberance free?
The houses I have bought come with contract stipulations; the cars have similar legal protections from this problem. My inclination is to have a contract that will give me comeback if I get bitten, but not having bought an aircraft I am somewhat in the dark.
NASA if you can knock over a carton of 303 and a bottle of Chivas and still be able to talk, then I am sure you WOULD have some interesting tales - come up to the LRE 747 landing and I'll see how far the budget extends for 'business entertainment' - maybe '100 Pipers' would be more in line with my financial position than Chivas - unless you're shouting?.......
