If you, like many others, have been wanting to purchase an aircraft, but have been on the sidelines waiting to see how the market is going to play out, I think you may be in luck. We have seen crazy high prices for used inventory and a very competitive market. COVID created a bubble, much like the real estate market inflating prices and surging demand making purchasing aircraft harder to reach. Within the past 3-4 months, the used aircraft market has been slowly trickling down. Deals are starting to pop up, and the market isn't as competitive as it was. Planes are not selling as quickly as they did (a few hours sometimes after listing) with buyers waving all contingencies (even on pre-buys). This leads us to an easier and less competitive market to purchase aircraft in. I cannot tell you how much lower aircraft prices will go, or how long it will be till prices go back up. It's all speculation. We still have supply issues, especially aircraft parts. Waiting months to get an oil filter or to put down a deposit on a new Cirrus and still wait 3 years to acquire the plane, all affect used aircraft prices.
I do know that prices are continuing to drop as of today. If you have been considering the aspect of purchasing an aircraft and looking for help from a buyers agent, at Seitz Aviation we offer services to walk you through the whole purchasing process so you don’t buy an airplane blindly. Think of us as a realtor for aircraft. There can be a lot of water to navigate through when purchasing an airplane and Seitz Aviation has years of experience, and the experience to assist you in every step. We try to make it as simple and easy to understand as you achieve the goal and dream of aircraft ownership. We take the stress out of buying.
Give us a call, text or email if you would like more information on how we can help you. Or if you would like to learn more about the latest on the used aircraft market economy we are happy to chat.
Seitz Aviation, LLC