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Sat, Jan 06, 2007

Buyer's Decision-Making Guide: Does Fractional Ownership Make Sense for Me?

Only you can decide whether buying into a fractional ownership program makes sense for you. When considering the fractional ownership model, think about these questions.  Discuss them with fractional program managers and, if possible, with pilots already in the fractional ownership program at that location.

  1. Do I meet the minimum pilot experience requirements for the program, or if not, will program instructors work with me to reach those requirements quickly?
  2. How many airplanes are available to me in the program? How many of those are based at the program airport I'll use?
  3. How long (in terms of time) will it take me to drive to the program airport? How will drive time affect my willingness to use the airplane?
  4. If the drive time is great, will program managers deliver the airplane to me for my use?  What additional expenses are incurred? Do I have to fly the delivery pilot back to the program airport before my trip, and pick him/her up before flying home?
  5. Will I fly enough to make the resulting hourly costs worthwhile? 
  6. How flexible is my flying schedule? Do I plan to fly for business, and if so, am I able to adjust meeting times to fit airplane availability?
  7. Do I need the airplane more than 100 to 150 hours per year? Will this make scheduling an issue for me? 
  8. Am I honestly able to afford the program buy-in and monthly/annual fees and still pay as much or more per flight hour as a traditional aircraft rental?
  9. Are the additional costs over renting worth it to me to fly a newer, better equipped airplane?
  10. Do I enjoy working with the airplane and getting involved in maintenance and inspections?  Will I miss that too much in a managed-airplane program?
  11. Do I want to equip an airplane to my personal specifications? Will I be satisfied accepting the program airplane's equipment as is?
  12. Will I willingly accept the initial and recurrent training requirements? Do I have the time and flexibility to meet those requirements within the availability of an airplane and program instructor?
  13. Is the program's liability insurance coverage sufficient for my needs? Can I find supplemental ("umbrella") coverage for additional liability protection if I need it?
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Only you can decide whether buying into a fractional ownership program makes sense for you.

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