Setting a budget and understanding the trade difference:
Hello, Jake Huling here with Aircraft Sales Advisor. I’d
like to welcome you to the sixth video report in a new series called, 9 Steps
to a Successful Sale or Purchase of Your Plane.
In the last report we covered one of the more confusing factors when determining a plane's value, and that is, aftermarket upgrades. We looked at upgrades from
three different perspectives.
One, if you own a plane with upgrades, what they
are worth.
Two, if you own a plane and are thinking of adding upgrades, what
makes the best type of upgrades and where should you spend your money.
And
three, if you are buying a plane what type of upgrades you should be looking
for, and how much you should pay for them.
In today’s report we’re going to cover budgets, realistic
expectations, and the three most common mistakes sellers and buyers make in
this area.
And in addition to that, we're going to talk about the importance of
keeping your eye on the trade difference, when both selling and buying a plane.
And what in the world a build plane is?
So let’s get right to it.
Setting your budget:
Two of most common and potentially challenging questions
when setting a budget are:
One, how much of what we want and need in a plane,
can we get with our current budget?
And two, how much of what we're hoping to
get for our current plane is realistic? If that sounds at all familiar, you are
not alone.
These two very common questions both have very similar answers.
So let’s start by taking a look at the three most common
mistakes sellers and buyers make in this area.
· #1 is What
I originally paid for my plane.
Now stay with me, because this one gets a
lot of owners in trouble and I'll give you an example of how it happens.
