top ten myths of aircraft ownership

1. Alone the affluent can afford one. . .

Not so! Abounding aircraft owners are earning moderate incomes. How accomplish they accomplish it? Mostly buttoned up proper planning and a indepth education prior to manufacture their purchase. You can apprentice about abounding aspects of purchasing an airplane at

www.airplanenoise.com

a website that’s annihilation added than a compilation of accessible resources for those who appetite to apprentice!

2. You must fly at least 50 hours a year before an aircraft purchase is justifiable.

Able-bodied, it really depends on what you’re using as a reference. If you’re trying to beat the cost of renting. . . acquisition another road. If you accept some bag statement, rental statement or a charge to access an airplane on demand your own aircraft is certainly justifiable. Peruse added at http://www.aopa.org/members/files/topics/business_overview.html

3. If my bag statement is not the majority of my flying, I can’t depreciate my airplane.

Amiss once again! Using the Sutherland Lumber position as precedent, you may be able to depreciate the majority of the amount of your aircraft with as babyish as 27% bag. Using Aviation Levy Specialists is critical when planning levy strategies for ownership of your aircraft.
You can apprentice added at http://www.advocatetax.com

4. It’s cheaper to own an older aircraft than a brand advanced one.

Probably not! With today’s levy incentives, bigger absorption rates for advanced airplanes and the controlled continuation costs that a warranty provides, in most cases a brand advanced aircraft is less expensive. Additionally, your flying comfort akin with the dependable instruments and equipment of a advanced airplane will confirm your accommodation to buy advanced.

5. Aircraft Salespeople are all “slime.”

My favorite! Sometimes the reputation of a few can tarnish an entire industry! Not to anguish. . . There are some abundant salespeople out there who accept your absorption as their main algid. For 10 tips to choosing a super salesperson, appointment http://www.airplanenoise.com/top_ten.htm

6. I activate a “cream puff” with a low-age engine!

Anticipate that low-age engine is a acceptable affair? Anticipate again! The ace affair you can accomplish 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=/abutment/publications/keyReprints/general/lowTimeEngine.html

7. Those “whiz bang” avionics on the advanced planes actualize inferior pilots!

On the contrary! Today’s advanced equipment is all designed with increased safety as the prime motivator! Weather systems, traffic, navigational systems all accommodate the aviator with supplementary tools and resources in the cockpit where they’re needed! After all, what acceptable are they on the ground? Of course, the pilots charge supplementary training to apprentice the equipment. . . Inferior aviator????
http://www.airplanenoise.com/articles/Addressing%20Safety%20with%20New%20Avionics.doc

8. Finding a partner will accomplish my aircraft purchase easier.

Able-bodied, maybe financially. But is the almighty dollar you save worth losing availability, as able-bodied as a acquaintance/partner? There are several areas for conflict from unbiased distribution of finances to cleanliness of the airplane. Before I hurl a wet towel over the abstraction let me again admit that abounding partnerships are actual acknowledged. Aloof bethink. . . your choice of partner should be taken actual seriously. In actuality some add that choosing your partner is agnate 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)

Aloof according to choosing a partner, choosing the adapted flight school to partner with is critical to the accomplishment of your leaseback. If you’ve done your due diligence, you’ll acquisition the leaseback arrangement to be a “achievement-achievement-achievement” bearings:
The school wins as they accumulate their cash for growing their bag

The owner wins with revenue generated and terrific levy incentives.

The flight students achievement as they any more accept one added airplane at their disposal.

Once again. . . proper planning!

Apprentice the pros and cons of leasebacks:

http://www.aopa.org/members/files/guides/aclease.html

10. I aloof can’t absolve a advanced plane!

Sure you can! If you charge advice, appointment http://www.airplanenoise.com/top_ten.htm

Pat Redmond, helps bag owners who are annoyed of continued lines and baggage claims, fly their road to abandon! Adore dinner with your family tonight! To apprentice added about the General Aviation Bag, sign up for FREE aircraft purchase tips and tools, appointment her site at http://www.airplanenoise.com

Originall posted March 30, 2012