Top Ten Myths of Craft
Ownership
by:
Pat Redmond
1. Only the rich can afford one. . .
Not so! Many an craft
owners are earning moderate incomes. How do they do it? Mostly through proper planning and a thorough education prior to production
their purchase. You can discover simply about many an aspects of buying an airplane at
www.airplanenoise.com
a website that's nothing much than a compilation of helpful resources for those who want to learn!
2. You must fly at least 50 hours a year before an craft
purchase is justifiable.
Well, it actually depends on what you're victimisation as a reference. If you're trying to beat the cost of renting. . . find another way. If you have several business use, rental use or a need to access an airplane on demand your own craft
is for sure justifiable. See much at http://www.aopa.org/members/files/topics/business_overview.html
3. If my business use is not the majority of my flying, I can't depreciate my airplane.
Wrong once again! Victimisation the Soprano
Lumber case as precedent, you may be able to depreciate the majority of the value of your craft
with as little as 27% business. Victimisation Aviation Tax Specialists is critical once
planning tax strategies for ownership of your aircraft.
You can discover much at http://www.advocatetax.com
4. It's cheaper to own an older craft
than a brand new one.
Probably not! With today's tax incentives, better interest rates for new airplanes and the controlled maintenance price that a pledge provides, in most cases a brand new craft
is less expensive. Additionally, your flying comfort level with the dependable instruments and instrumentality of a new airplane wish confirm your decision to buy new.
5. Craft
Salespeople are all "slime."
My favorite! Sometimes the reputation of a few can tarnish an entire industry! Not to worry. . . There are several great salespeople out there who have your interest as their main objective. For 10 tips to choosing a super salesperson, visit http://www.airplanenoise.com/top_ten.htm
6. I found a "cream puff" with a low-time engine!
Think that low-time engine is a nice thing? Think again! The better thing you can do for an airplane is FLY IT! Don't be fooled by this myth. . . It'll cost you!
http://www.lycoming.textron.com/main.jsp?bodyPage=/support/publications/keyReprints/general/lowTimeEngine.html
7. Those "whiz bang" aeronautics on the new planes create inferior pilots!
On the contrary! Today's new instrumentality is all designed with augmented security as the prime motivator! Weather systems, traffic, guidance
systems all provide the pilot with additional tools and resources in the cockpit wherever
they're needed! After all, what nice are they on the ground? Of course, the pilots need additional training to discover the equipment. . . Inferior pilot????
http://www.airplanenoise.com/articles/Addressing%20Safety%20with%20New%20Avionics.doc
8. Finding a partner wish do my craft
purchase easier.
Well, mayhap financially. But is the money you save worth losing availability, as well as a friend/partner? There are several areas for conflict from fair distribution of finances to cleanliness of the airplane. Before I throw a wet towel over the idea let me likewise admit that many an partnerships are really successful. Simply remember. . . your select of partner should be taken really seriously. In fact several say that choosing your partner is similar to choosing a spouse!
http://www.aopa.org/members/files/guides/multiple.html
9. Leasebacks are all 1-sided. (In favor of the flight school)
Just like choosing a partner, choosing the right flight school to partner with is critical to the success of your leaseback. If you've done your due diligence, you'll find the leaseback arrangement to be a "win-win-win" situation:
The school wins because they keep their cash for growing their business
The owner wins with revenue generated and terrific tax incentives.
The flight students win because they now have one much airplane at their disposal.
Once again. . . proper planning!
Learn the pros and cons of leasebacks:
http://www.aopa.org/members/files/guides/aclease.html
10. I simply can't justify a new plane!
Sure you can! If you need help, visit http://www.airplanenoise.com/top_ten.htm
Pat Redmond, helps business owners who are tired of long lines and baggage claims, fly their way to freedom! Enjoy dinner with your family tonight! To discover much simply about the General Aviation Business, sign up for FREE craft
purchase tips and tools, visit her site at http://www.airplanenoise.com
