This is where a broker or dealer that specializes in the make and model you’re looking to purchase can be of tremendous value. Let’s say for sake of discussion you’re looking for a TBM 850. A good place to start is your local new TBM dealer. While it may not currently have an 850 available for sale, chances are they’ve sold one and may know an owner interested in purchasing a new TBM if they only could sell their used one. In the real estate world, agents frequently have so-called “pocket” listings where they have talked with owners who are interested in selling someday, and the aircraft world is no different. Their property may not be listed on the market. If you choose an aircraft that is in high demand, it is not unusual for a broker to know about an aircraft that is not for sale—yet.
Should that approach fail, consider your search. What is it about your dream airplane that is limiting your results? Do you need to shop for similar aircraft that nearly match, but don’t exactly match, your ideal model? If not, find someone who has what you want but has no intention to sell, and make a generous offer. You may be surprised.
Doing so may necessitate an appraisal to justify the value of the aircraft; however, even if the appraisal comes in lower than what you’re paying, most lenders are still more than willing to provide a loan. Virtually all lenders lend on the lesser of a loan to value or loan to purchase amount. You may just need to put a little more down than you originally planned.
When the buying fever strikes, AOPA Aviation Finance is here to help you find the lender that is right for your specific purchase.