All About 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 only a part of owning an airplane.
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 finance an airplane, you can get a quote from the bank which requires a down payment and also having an interest rate. Today the rate is 6% with a 15% down payment and 20 years of financing. To have insurance fees, you can get a quote for the airplane you are considering to buy. For the hangar fees, you can call the airport where you want to land your airplane.
Direct operating cost is quite tricky especially in calculation. There are ways you can calculate how much will it cost you each hour to fly. To start with the basics. Mostly, pistons engines are requiring oil change every 50 hours. The price of the oil engine is dependent to where you are living. 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. To be able to fly an aircraft with a worn-out engine you must consider the published fuel burn in purchase.
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. Every year, the airplane you have purchase must be undergo inspection. The price for inspection depends on where you are doing the inspection. Call a service center that is good with the type of airplane you are using and have a low charge for the standard annual inspection that will be done yearly.
See to it that the price must not include items that you have not purchased. These costs are extras. The airplane that is still under warranty I expected to have repair bills upon picking it up. To be able to have a safe bet in budgeting, you must double the amount allotted for the annual inspection fee. The budget you have prepared will cover most of the unexpected bills during that year. Budgeting for the expenses of paint, interior and any other things for your plane must be done. You can read more info. in websites about this one.