Things to Consider in Aircraft Value Reference
Calculating the cost to have your own airplane using free aircraft value calculator is the most frequently asked questions. A lot of different factors one can have in owning an airplane. The purchase price is just part of the entire cost of owning an aiplane.
The cost that you will pay whether the airplane will fly or not is called indirect cost. The expenses like the purchase price, hangar fees, taxes and even subscription fees are called to be indirect costs. To be able to finance an airplane, you can get a quote from the bank that is having down payment requirements and interest rate. Currently, the rates are now at 6% with 15% down and 20 year financing. To be able to know the insurance fees, you can call the insurance agent and obtain a quote for the airplane you are to purchase. The airport where you are landing your plane is the very place where you can also get the hangar fees.
Calculating the direct operating costs is tricky. Different ways can be done in calculating the cost of each hour to fly the airplane. Starting at the basics. Basically, piston engines are required to change oil in every 50 hours. The cost of the oil engines is dependent to your location. The fuel you are about to consume depends on the aircraft you will be using. You can visit a manufacturer’s website or even consult the POH to get the fuel. Visiting a manufacturer’s website or consult the POH in getting the fuel is a good idea. Flying an airplane with worn-out engine needs a published fuel to burn.
Engine and propeller reserves are to be calculated into the equation even if you have a new airplane that you plan on selling. You must also have a scheduled maintenance which serves as another cost worth planning for. The airplane being purchased must undergo to inspection annually. The prices will vary but it depends on where you do your inspection. You can even have to call a service center which is familiar with the airplane you are using and observe for any charge for the standard annual inspection.
See to it that the price must not include items that you have not purchased. the costs that are extras are not included. An airplane that is still under warranty must have repair bills upon picking your airplane up. Doubling the annual inspection fee will be able to cover the surprised repair bills. This budgeting will cover the surprise bills that may occur on that year. Budgeting for the expenses of paint, interior and any other things for your plane must be done. You can see more here in websites that is focused on this kind of topics.