The Thing about Aircraft Value Reference
The aircraft values or VREF is the questions frequently asked and you can learn calculating it. There are various cost factors in owning an airplane. Purchasing price is only a piece of getting 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 be able to finance an airplane, you can get a quote from the bank that is having down payment requirements and 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. You can pay for the hangar fees to the airport where you wanted to base your plane.
Calculating the direct operating costs is tricky. Different ways can be done in calculating the cost of each hour to fly the airplane. To start with the basics. Basically, piston engines are required to change oil in every 50 hours. The price of the oil engine is dependent to where you are living. 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. To be able to fly an aircraft with a worn-out engine you must consider the published fuel burn in purchase.
The engine and propeller will be calculated even though you have a new airplane that you are planning to sell. The scheduled maintenance must be accordingly done but it will be another cost yet 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.
Remember that the price they quote to you do 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. You can also save money for redesigning your airplane. You can see more here in websites that is focused on this kind of topics.