Purchasing an aircraft?

First, members get access to our financing services, as well as all the other services associated with purchasing an aircraft. Those include title and escrow, insurance, Pilot Protection Services, and a well-staffed Pilot Information Center. There are a lot of variables involved in purchasing an aircraft. The AOPA Finance Team can help you navigate the complexities and find the best terms available.

Title and escrow is a critical part of financing. AOPA has a strategic partnership with Aero-Space Reports, a company that offers service discounts to AOPA members. Aero-Space Reports will do a title search, file the FAA paperwork, and handle the funds transfer on the day of closing.The AOPA Pilot Information Center is staffed by a team of commercial pilots.

Insuring the aircraft is a prerequisite to lending because lenders use the aircraft as collateral. And since the borrower must list the lender as the loss payee on the certificate of insurance, all lenders mandate a full coverage policy on the aircraft. “Loss payee” means the lender gets paid first if a situation occurs requiring a payout. “Full coverage” means coverage on the hull of the aircraft at least equal to the loan amount, along with liability coverage. AOPA has a longstanding strategic partnership with AssuredPartners Aerospace, an insurance broker that has relationships with all the major aircraft insurance providers. That gives AssuredPartners the ability to find the best insurance option for your situation. As an AOPA member, you can request free, no-obligation quotes.

Another AOPA member benefit is legal and medical certification services through our Pilot Protection Services. There are two membership levels, basic and plus. “Basic” is geared toward student, light sport, and private pilots. “Plus” is designed for ATP and commercial pilots, as well as instructors or Part 107 drone pilots. AOPA’s legal team provides resources such as a draft of a sample purchase agreement, a great resource to start with to craft your specific purchase agreement. AOPA attorneys will review what you’ve crafted.

Another benefit of having access to our attorneys is that they can review the ownership structure of the aircraft. For example, you may be planning to put your airplane into an LLC. There are some considerations to make in terms of how the FAA is going to view that LLC and your ownership of the airplane through that LLC.

As an AOPA member, you have access to our Pilot Information Center. It’s staffed by a team of commercial pilots. They have decades of experience in all kinds of different aircraft. They’re a treasure trove of information regarding aircraft operations and aircraft capabilities, and they can help in identifying the right aircraft to meet your mission. If you want to talk to somebody who knows about how FAA regulations might apply to you, if you’ve had a run-in with the FAA, or if you need to fill out a NASA report, the staff at the AOPA Pilot Information Center can help.

aopa.org/membership