AOPA Turbine Pilot Magazine - March 2025 - 31

It's easy for your old
bird to become a hero.
MEMBERSHIP /
Purchasing an aircraft?
As an AOPA member, you have resources
MEMBERS SOMETIMES FORGET the
many benefits that come with AOPA
membership, especially when it comes
to purchasing an airplane.
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.
The AOPA Pilot
Information Center is
staffed by a team of
commercial pilots.
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.
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
AOPA PILOT / March 2025
31
Wings of Hope's Airplane
Donation Program
Give your plane a higher
purpose by donating it
to Wings of Hope. Your
plane, even if it is no longer
airworthy, can play an
essential role in our mission
of changing and saving
lives through the power
of aviation. Our donation
process is easy and the tax
benefits are significant.
wingsofhope.ngo
Questions? Contact Mike Piccirilli
at 314-705-9250
or mike.piccirilli@wingsofhope.ngo.
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AOPA
http://wingsofhope.ngo http://www.aopa.org/membership
AOPA Turbine Pilot Magazine - March 2025

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