I am a private Single Engine pilot who aspires to own an private aircraft someday. Like the majority of us, I cannot afford to buy my own aircraft, let alone the cost of up-keep, annuals, tiedown fees, etc. Ultralights are affordable, but not practical for decent cross countries. New LSA, forget it, too expensive. Homebuilts are very appealing, but I want to fly now, not 10 years from now. A lot of used homebuilts seem to cost way too much. I live on a active duty military E-5 pay, so I live and fly cheap. I rent at the flying clubs convenience, which is not always convenient!
I know that occasionally people slip and cannot afford their aircraft. I know repo’s happen. Would a bank repossesses aircraft be cheaper to purchase? What sources can I use to locate one? Is there a decent website, Newsletters, or point of contact I can utilize?