All About Aircraft Value Reference
Calculating the money or VREF to buy for your own airplane is the questions frequently asked. There are determining factors in owning an airplane. The purchase price is only a part of owning an airplane.
Indirect costs are the costs you will be paying whether or not the airplane will fly. Some expenses that can be considered as indirect costs are purchase price of the airplane, hangar fees, subscription fees and taxes. 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 be able to know the insurance fees, you can call the insurance agent and obtain a quote for the airplane you are to purchase. 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. Let us go with the basics. Generally, the piston engines change their oil every 50 hours. The cost of the oil engines is dependent to your location. The fuel consumption is dependent according to the type of aircraft. 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 aircraft having worn-out engine must have published fuel to burn.
The engine and propeller will be calculated even though you have a new airplane that you are planning to sell. 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 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.
Items must be paid without unidentified items. These are not included in your budget. 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. The budget you have prepared will cover most of the unexpected bills during that year. You can also save money for redesigning your airplane. You can read more info. in websites about this one.
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