The Thing about Aircraft Value Reference
The aircraft values or VREF is the questions frequently asked and you can learn calculating it. A lot of different factors one can have 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. The expenses like the purchase price, hangar fees, taxes and even subscription fees are called to be indirect costs. If you are financing the airplane, you could possibly get a quote from the bank with a down payment required and also with the 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. You can pay for the hangar fees to the airport where you wanted to base your plane.
Direct operating cost is quite tricky especially in calculation. There are various methods you can do in calculating the cost you will have in every hour flying of your airplane. 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 consumption of fuel 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 aircraft having worn-out engine must have published fuel to burn.
The reserves like engine and propeller can be solved in the equation even if you have a new airplane. 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. The service center which will be familiar to the airplane you will be using is the one best fit for you and must have the charge for the annual inspection.
Items must be paid without unidentified items. These are not included in your budget. 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. You can also save money for redesigning your airplane. You can see more here in websites that is focused on this kind of topics.