Can't afford one? Can't justify one? Don't like
that Salesperson? Read on and we'll dispel the top 10 myths of aircraft
ownership!
Can't afford one?
Can't justify one?
Don't like that Salesperson?
Read on and we'll dispel the top 10 myths of
aircraft ownership!
1. Only the rich can afford one. . .
Not so! Many aircraft owners are earning moderate
incomes. How do they do it? Mostly through proper planning and a
thorough education prior to making their purchase. You can learn about
many aspects of purchasing an airplane at:
www.airplanenoise.com , a website
that's nothing more than a compilation of helpful resources for those
who want to learn!
2. You must fly at least 50 hours a year before
an aircraft purchase is justifiable.
Well, it really depends on what you're using as a
reference. If you're trying to beat the cost of renting. . . find
another way. If you have some business use, rental use or a need to
access an airplane on demand you own aircraft is certainly justifiable.
Read more at 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! Using the Sutherland Lumber
case as precedent, you may be able to depreciate the majority of the
value of your aircraft with as little as 27% business. Using Aviation
Tax Specialists is critical when planning tax strategies for ownership
of your aircraft. You can learn more at www.advocatetax.com
4. It's cheaper to own an older aircraft than a
brand new one.
Probably not! With today's tax incentives, better
interest rates for new airplanes and the controlled maintenance costs
that a warranty provides, in most cases a brand new aircraft is less
expensive. Additionally, your flying comfort level with the dependable
instruments and equipment of a new airplane will confirm your decision
to buy new.
5. Aircraft Salespeople are all "slime."
My favorite! Sometimes the reputation of a few
can tarnish an entire industry! Not to worry. . . There are some great
salespeople out there who have your interest as their main objective.
For 10 tips to choosing a super salesperson, visit www.airplanenoise.com/top_ten.htm
6. I found a "cream puff" with a low-time engine!
Think that low-time engine is a good thing? Think
again! The best thing you can do for an airplane is FLY IT! Don't be
fooled by this myth. . . It'll cost you! www.lycoming.textron.com
7. Those "whiz bang" avionics on the new planes
create inferior pilots!
On the contrary! Today's new equipment is all
designed with increased safety as the prime motivator! Weather systems,
traffic, navigational systems all provide the pilot with additional
tools and resources in the cockpit where they're needed! What good are
they on the ground? Of course, the pilots need additional training to
learn the equipment. . . Inferior pilot???? www.airplanenoise.com/articles
8. Finding a partner will make my aircraft
purchase easier.
Well, perhaps financially. But is the money you
save worth losing avialability, 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 also admit that many partnerships are very successful. Just
remember. . . your choice of partner should be taken very seriously. In
fact some say that choosing your partner is similar to choosing a
spouse! 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 dilligence, 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
more airplane at their disposal.
Once again. . . proper planning!
Learn the pros and cons of leasebacks:
www.aopa.org/members/files/guides/aclease.html
10. I just can't justify a new plane!
Sure you can! If you need help, visit:
www.airplanenoise.com
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About the Author
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 learn more about the General
Aviation Business, sign up for more FREE tips like these, visit her
site at http://www.airplanenoise.com | 