People are still attempting to tighten their budgets, even after years of frugality, which means that many pilots have put aircraft ownership on the back burner.
But now is a great time to buy an airplane if you have the money. Market prices are still low and low interest rates are out there.
Purchase prices and interest rates aside, there are some interesting ways to reduce the cost of aircraft ownership even more, like choosing the right airplane for your needs. You don't need to go overboard. An old, inexpensive airplane might serve the intended purpose for you.
And have you considered ownership options like co-owning or a partnership? If fractional ownership is too expensive still, check out cooperative ownership programs like Let's Fly, which has really low buy-in costs and low hourly rates. If you fly a lot of hours in rental aircraft, this could be a good deal!
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