Airplane Purchase - Shared vs. Sole Ownership
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- Опубликовано: 28 авг 2024
- Getting ready to buy an airplane is the ultimate window shopping experience. No cost to research or consider options. But ulimately, for most of us, it's an expensive purchase. Balancing what you can afford vs. what you need is a tricky process. How you will buy the plane becomes just as important as what kind of plane you'll target. I am continually asked about the considerations and process to follow. This episode is meant to answer those questions, and to open the door for more questions or comments. Please add those below. And of course, enjoy!
Blue Skies and Tailwinds!!!
Thank you for providing your knowledge and experience. You are well spoken and I enjoyed listening to your perspective.
I appreciate your kind words. Glad you find value with the content. Blue Skies.
Excellent content! The club or partnership is something I needed to learn about. Thank you this is great. 👍✅
Thanks Nathan. If there's anything I can answer or you'd like to discuss, just ask. I make a lot of mistakes, and then learn from them. Happy to share. Blue skies.
I am operating a fractional ownership company with a piper m600. That's the best option for aircraft purchase! Only split and together!
I had a wonderful experience with my first SR22 in a fractional program. People told me it was too expensive, but I saw the value of multiple airplanes allowing for mitigated risk in terms of plane availability. The owners of the program asked me to help manage the planes, which put a few dollars back in my pocket and I was asked to ferry the planes for maintenance, so got extra hours. I am interested in getting into an M500 or M600. Where do you operate out of?
I think its a very individual choice and has to work with your lifestyle and finances. Difficult to generalise for everyone’s circumstances and what may work for one person may not work for another. I own an SR22T G1000 and it would not work to share and loose the flexibility to use when I want.
@@vinprm I agree. Like most things in life, it's a balancing act. My goal was to present a few aspects about the factors and implications of the process. In the end, it comes down to the individual and what's right for him or her.
I've been in a partnership on the same plane since 1985. We use the same model you use and it has worked out. We've had many partners come and go in that time frame. And a occasional bad 1 or 2. Mostly they just moved on usually realizing that sole ownership was what they were really after. We only have had to force one out over the entire time. Having backups is a good idea, that has worked for me. BTW, I am a pilot and I squeeze the toothpaste in middle.
No way. There has to be one of you. Of course , you're talking to a guy that can't fly TRACK UP, only NORTH UP. Seriously, I was talking to an airline captain once and mentioned the two tubes of toothpaste, and he said to me, "Of course you squeeze it at the bottom, you're a pilot" I assumed he was stating a fact. Never tested that theory. Now I know I'm wrong or you are the exception. Regardless, all good. Thanks for your comment. The model generally works.
@@pfflying6275 Well there you go I can't fly North up. One of first things I learned on the 430 was how to switch it.
Aircraft partnership is like having a roommate(s) in a house or apartment.
You have to have the right mindset to deal with that.
Partnership has not been and will never be an option for me. Heard too many horror stories in my 40yrs of GA. While expensive to be the sole owner of my own aircraft, I don't have to answer to anyone outside of keeping it airworthy and legal. When doing upgrades, I'm very particular of what and where I want things to go if that's an option.
I would advise anyone considering getting into a partnership to make a very detailed pro/con list that fits you. I have no doubt there are highly successful partnerships out there.
Good points. I just had a conversation with an owner today, who loves his plane, but his company needs his attention so much that he doesn't have time to fly at times. He acknowledges that it is horrible for the airplane to sit for weeks or months and not fly. It can corrode the engine. He asked me about a partnership and is looking for a person he can put on a dry lease to gain the benefit of having someone else flying it, but he retains all the owner responsibilities and decisions. I think he will eventually convert the relationship to a true co-owner, but in the meantime, learn if they are compatible. Sort of a "try before you buy" experiment.
Love the toothpaste comment. 😂 My wife and I have been married for 48 years. I started buying two tubes of toothpaste about 40 years ago.
You figured it out before the rest of us.
You sound like a wise person.
Thanks. Some would just say I am experienced (older). ;-)