Aircraft Valuation Factors
Knowing the aircraft's value is always an important thing whenever you are buying or selling any plane. This is because it uncovers several things that help you see the market value of the aircraft you are buying or selling. During the aircraft valuation, several factors are considered very important to any aircraft appraisal company will look for before determining the value of the aircraft. These factors can either affect the aircraft valuation positively or negatively during the aircraft appraisal. The following are some of the aircraft valuation factors every aircraft appraisal company will look for:
Engine hours are the total number of years that the aircraft engines have been flown. The engine hours have a significant impact on the resale value of any aircraft. The aircraft always have overhauls that are recommended by the manufacturers of these planes. Any aircraft engine should be overhauled at specific intervals like the vehicles. In case this is not done, the cost of overhauling can be very expensive. In case the aircraft's engine is very clear to its next overhaul, it will have a low value.
Maintenance and flying records
It is always essential to ensure that you are keeping the records of using and maintaining the aircraft. When you have these documents, everyone gets the evidence that you were taking good care of the plane when using it and performing regular maintenance practices. Using the aircraft regularly ensures that all the engine's seals and components are lubricated at all times. Maintenance practices show that the aircraft owner is destined for the safety of the aircraft, which ensures that the aircraft's value is high. In case you do not keep these records, you should consider starting doing it to ensure that you pave the way to the next aircraft future value appraisal.
Your aircraft appraisal expert will also check on the equipment that you have installed in your aircraft. These equipment are not compulsory, and hence you may have them or not. It all depends on your choice. Some of these equipment includes air conditioning, deicing gear, avionics, and any other interior equipment. If the equipment installed in the aircraft is new, the aircraft will have a higher value. In case you are planning to have an aircraft future value appraisal, you should consider installing new equipment for your aircraft.
Your aircraft appraisal expert will also provide lower value for any aircraft experiencing any damages on its wing, fuselage, empennage, and landing gear. Therefore, if your aircraft has not been having any issues, then during the future aircraft value appraisal, its value will be higher.