Determining an aircraft's value
When making a large purchase such as an airplane, price is often one of the first items discussed. And why not? When you're shelling out anywhere from $20,000 on up, price is usually a major concern.
A former student of mine inquired recently about an airplane for sale on the field. "How much?" he asked. It's not surprising that cost was his first concern, although I think he was surprised by my follow-up questions: Is this the right type of airplane? What are the hours? How's the panel? Who did the maintenance? This is just a short list of questions any potential buyer should be asking from the beginning.
Of course, price is important. Buyers want to make sure they are getting a good deal. First-time buyers have an especially difficult time estimating an aircraft's value. This is where AOPA comes in.
Once you've narrowed down your list of potential aircraft, make sure to visit AOPA Online's Vref service for the true measure of what type of deal you are getting. Vref is a free aircraft-valuation service that AOPA provides to members. Simply fill in the type of aircraft, the year, hours, and equipment, and Vref will come back with the retail market value of what the aircraft is worth.
This number is a powerful thing. It's a bargaining point, a litmus test of the seller, and an indicator of the health of the market, all wrapped up into one. Members will often use this to determine if the buyer is fair, how much he or she may be willing to negotiate, and maybe if they can even afford this type of aircraft in the first place.
Members can also call AOPA's Pilot Information Center for even more detailed information. PIC specialists are well trained in the nuances of the program and they can give you a more accurate, detailed explanation of the value. They can answer almost any value-related questions, including how much a particular piece of equipment inflates the price, or how the engine and airframe time sway the value.
Whether buying or selling, AOPA can be a great asset to your transaction. For everything from contracts and title searches to values and insurance, AOPA has the resources. Make sure to call AOPA's Pilot Information Center for all your buying and selling needs at 800/USA-AOPA (872-2672).
Membership Q&A
Answers to frequently asked questions about your AOPA membership
Q: I'd like to give an AOPA membership as a gift to a friend. Can I do that?
A: Absolutely. Giving a friend or relative a membership in AOPA provides them with information and tools that helps them fly safely and get more enjoyment out of flying. Your gift recipient will receive a special gift card announcing your gift and the AOPA Pilot's cap. Use our convenient online form or call Member Services at 800/USA-AOPA (872-2672), 8:30 a.m. to 6 p.m. (ET) Monday through Friday to help someone special celebrate the holidays or any special event.
Q: Where can I buy an AOPA shirt or other merchandise with the AOPA logo?
A: You can order a wide variety of AOPA insignia products from Sporty's Pilot Shop. Sporty's has great-looking clothing, hats, and other useful merchandise such as coffee mugs and ID wallets with the AOPA logo. Browse the AOPA Collection online or call 800-SPORTYS (776-7897) to request a catalog.
Q: I'd like to make a charitable donation that I could use as a tax deduction for 2006 that would benefit general aviation. Any recommendations?
A: The AOPA Air Safety Foundation (ASF) is an educational charity serving pilots. Your gifts, large and small, to ASF are tax deductible. Donation options and programs can be found online or you can call 800/USA-AOPA (872-2672), 8:30 a.m. to 6 p.m. (ET) Monday through Friday to learn more about how your gifts help the foundation make GA flying more safe and secure for everyone.
Contact information
Phone: 800/USA-AOPA (872-2672), from 8:30 a.m. to 6 p.m. Eastern time from Monday through Friday
E-mail: [email protected]
Web: Update your personal information, renew your membership, and much more by clicking on My AOPA Membership in the left column of our home page.
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