Do you need to know the value of your aircraft?
It is important to know how much your aircraft is worth, especially if you are considering selling it. A well-appraised aircraft will get the best price you can get for it; an under-appraised aircraft can be costly.
You deserve peace of mind when it comes to knowing the true value of your plane. That’s why we recommend learning your aircraft value.
Here are 5 reasons you should hire Aircraft vehicle valuation services.
1) You Will Know What It Is Worth
If you try to sell your vehicle on your own, there’s a chance that you will not charge enough for it and end up leaving money on the table. You might even try to sell at too high of a price and scare off potential buyers who think it’s overpriced.
Hiring professionals who are familiar with all types of aircraft vehicles can help ensure that you set the right price so that you get the most out of the sale while still attracting potential buyers.
2) You Will Know If You Are Getting A Good Deal Before You Buy or Sell
If you are planning to change your current aircraft with another model, it makes sense to hire an appraiser to value the aircraft you are considering for sale. An appraisal can tell you whether what you are paying is a good deal before you buy the new one.
This even applies if you are not sure of its resale value; knowing that it can be sold for at least what was paid will make it easier to sell down the road.
It also helps determine if the required upgrades aren’t worth what they cost and whether certain exterior cosmetic features would bring in more buyers. You can get more info here.
3) The Appraisal Supports Your Tax Deductions For Depreciation
The Internal Revenue Service (IRS) allows you to deduct the depreciated value of an aircraft on your taxes. However, this deduction is limited to the original purchase price.
If your aircraft’s worth has increased over time, you should be able to claim the higher value as depreciation each year after buying it.
This can save you a great deal of money if the right appraiser performs the necessary analysis and appraisal for both initial purchase and yearly depreciation deductions.
4) You Will Have Documentation For Security Purposes
If you are flying overseas, security restrictions demand that pilots carry documentation of their aircraft’s current resale value. Because aircraft vehicles typically appreciate in value over time, knowing what they are currently worth provides important documentation during these instances where officials and customs officers ask to see proof of this information.
5) You Can Ensure A Smooth Transaction
When you sell an aircraft, the buyer will normally hire a qualified airplane appraiser to verify its value before finalizing the sale. If you are the seller, it makes sense for you to do the same thing when hiring an appraiser to avoid any misunderstandings or discrepancies associated with your transaction.
This process ensures that both parties will receive their asking price and provides peace of mind knowing all is well on both sides.
Interested In Knowing More About Vehicle Valuation Services?
We’ve discussed a few important reasons why you may want to investigate vehicle valuation services. You might be surprised at how much money it could save!
We’re here to help you get the most out of your aircraft. If you’d like more help on vehicle value, aircraft appraisal, please check out our blog!
