Things to Consider in 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 just part of the entire cost of owning an aiplane.
Indirect costs are the costs you will be paying whether or not the airplane will fly. Expenses covered by indirect cost include the purchase price for the airplane, insurances, fees for hangar, subscription fees, and taxes. 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. Currently, the rates are now at 6% with 15% down and 20 year financing. To have insurance fees, you can get a quote for the airplane you are considering to buy. 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 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. 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. The airplane being purchased must undergo to inspection annually. The price for inspection depends on where you are doing the 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 costs are extras. Do not be surprised if there are surprised repair bills to pay especially for purchasing an airplane that is still under warranty. To be able to have a safe bet in budgeting, you must double the amount allotted for the annual inspection fee. This budgeting will cover the surprise bills that may occur on that year. You can also save money for redesigning your airplane. You can read more info. in websites about this one.