Economy’s in the Dumpster. Credit is tight. Fuel is expensive. Geez. Lousy time to buy an airplane, right? Maybe not. As Warren Buffet says, “Be fearful when others are greedy and greedy when others are fearful.” Well, guess what. Others are fearful, so now is the time to be greedy.
If you’ve got the cash or access to credit, now might be a fine time to buy an airplane. Hull values are down because of all the airplanes on the market (meaning you have a big selection). Insurance rates are trending down. Fuel prices remain high, but they will probably trend downward soon–avgas always lags gasoline on the way back down just as it lagged gasoline on the way up (although it may not have felt that way). Plus, if you buy before the end of the year and use the airplane mostly for business, you can benefit from several tax incentives currently available.
I’ll be exploring this subject and providing some buying tips at AOPA Expo in my seminar, “Buying Your First Airplane,” which occurs at 3 p.m. Friday, November 7, in San Jose.
In the meantime, what do you think? Is this the buying season for airplanes? Time for you to be “greedy” and take advantage of the down market or time to sell? Let me know your thoughts.
Tags: Tom Haines