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How Can I Justify This? |
by:
Pat Redmond |
People buy for emotional reasons and justify their decisions with whatever logic they can find or create, no matter how ridiculous.
-Joe Vitale
So you want to buy an airplane! What's stopping you? Perhaps I can list a few things:
1. My spouse doesn't fly and doesn't support my flying habit.
2. I don't do enough flying. . . it's probably cheaper to rent.
3. I'm not rich.. . How could I afford an airplane of my own?
O.K. Let's acknowlege that emotionally, WE WANT THE AIRPLANE! After all, who wouldn't? What could be more desireable than a brand new airplane, everything working, smell of new leather, and of course the turning heads every time you land your new airplane?
Now comes the justification part. We'll start with
#1: My spouse doesn't fly and doesn't support my flying habit.
Unfortunately, this one's all too common. However, there are a few things you can do to enroll your spouse in the program.
Make it a practice of flying to places that your spouse wants to go! Skip the pancake breakfasts and fly-ins. Fly to destinations that are unrelated to aviation. For a list of some great places, visit
http://www.airplanenoise.com/great_trips.htm
Try a "Pinch Hitter" course. Sometimes (I can speak from personal experience here) a good instructor can "hook" your spouse and before you know it you'll be forking out additional money for flight lessons. This is not a bad thing. . . With both of you involved in this activity, you'll win support for your purchase!
Who knows? Maybe your spouse prefers your absence and will endorse your involvement in a time consuming activity!
2. I don't do enough flying. . . it's probably cheaper to rent.
Have you heard the "50 hour/year" rule? Well if you have, disregard it! With a little bit of planning, your airplane investment can pay off with your personal and business flying. Airplanes are unlike other vehicles and actually increase in value over time. Take a look at a Aircraft Blue Book or V-Ref and compare values of some older airplanes. Some are several times their original purchase price! Different airplanes appreciate at different rates, so look for strong manufacturers that will be around years down the road.
3. I'm not rich.. . How could I afford an airplane of my own?
THE BIGGIE! New airplanes aren't cheap, but if you can position yourself for financing, the airplane can actually PAY YOU for the first 3-4 years! Sound impossible? Incentives are in place both from manufacturers (in the form of low interest rates) and the new tax incentives. With as little as 27% business use , you can depreciate the majority of the airplane and benefit from the associated tax savings. First year may be as much as 80% depreciation for a new aircraft! Additionally, warranty will cover the bulk of your maintenance expenses.
With regard to "positioning yourself for financing," visit
http://www.airplanenoise.com eleclass_schedule.htm
for a free download of "The Secrets of the Aircraft Finance Companies." You can also send a blank e-mail to aircraftpurchasesteps@getresponse.com for the Aircraft Purchase Wizard, a 9 e-mail series outlining the aircraft purchase steps with exclusive links and downloads.
Come on! We all justify our purchases everyday! You didn't really need these tips now, did you?
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 FREE aircraft purchase tips and tools, visit her site at http://www.airplanenoise.com |
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