5 Easy Steps to Sell Your Airplane

For first-time owners, planning for a sale and making your next move can be just as daunting as getting into your first aircraft. 

Thankfully, we have you covered with a five-step guide for what to do once you need to trade in your first aircraft for a new model.

Before you attempt a sale, you’ll want to maximize the value you can extract from your used plane. Obviously, that includes basic tasks, such as making sure the exterior and interior are both spotless and compiling records of the plane’s hours, inspections, and logs. 

Depending on what maintenance items are due or will be soon, you may want to preemptively take care of a few notable repairs or routine part replacements so that buyers will be confident in the aircraft’s condition. 

Likewise, refurbishment will often raise the value of a private jet by up to 20 percent. Of course, the returns you’ll see from a fresh coat of paint or an interior refresh will vary greatly depending on how worn or outdated your airplane appears as-is, and how much you can expect for a pristine and updated version of your model.

That leads us into our next point.

To determine a fair market price, you can start with a professional appraisal or check out similar models at AvBuyer to get an idea of the current market value on private sales. Aviation classifieds are a great way to figure out what people are actually paying for and what is in high demand. 

Be sure to make note of any specifics that make your aircraft a better-than-average example. Besides detailed maintenance history and logs, any warranty you have left can be a major value to prospective buyers, as with any pre-owned vehicle. Leaving at least a few months of warranty gives the next owner peace of mind in case unexpected issues crop up. 

Once your plane is in prime condition, take high-resolution photos of both the interior and exterior, including avionics, panels, running gear, and anything else buyers or brokers will want to see. 

AvBuyer is the premier marketplace for buying and selling pre-owned aircraft, with a wide selection and an even wider reach. If you’re looking to sell your jet, turboprop, light aircraft, helicopter, or even vintage aircraft privately, listing here is quick and easy. 

If you want to work with a broker to help finalize a sale or structure a trade, FLYING Finance can connect you with one of our trusted contacts. An aviation broker will facilitate your sale and navigate the process on your behalf, helping both you and the buyer avoid legal and marketplace pitfalls. 

If you’re dealing with a business aircraft, it’s vital to understand the benefits and drawbacks of your depreciation schedule and tax incentives or penalties. 

Some federal and state legislation might provide incentives for purchasing a new aircraft, which can be particularly helpful in avoiding excessive sales tax when you sell your current aircraft. 

Depending on where you are on your aircraft’s depreciation schedule, you may have exhausted the financial benefit from your current model. Speak to an aviation tax professional about what incentives apply to your situation so you can optimize your financing and minimize your tax expenditures. 

Even if you have the means to purchase an aircraft in cash, it’s worth considering your financing options.

There are many benefits to financing all or part of the value of your aircraft. By taking advantage of long-term and low-rate financing, you can have the right aircraft for your mission now while keeping liquid capital to deploy more effectively in your business or other investments. 

In most cases, your return on investment will make it worth holding onto your capital and will outpace interest rates. 

For the best rates, reach out to FLYING Finance today, and our team of experts will help you structure your purchase and get you into the perfect aircraft.