Eclipse 550? What are your thoughts? | Page 2 | FerrariChat

Eclipse 550? What are your thoughts?

Discussion in 'Aviation Chat' started by swilliams, Oct 6, 2013.

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  1. JAM1

    JAM1 F1 Veteran
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    Oct 22, 2004
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    +1 It's critical to plan out taxes and it helps to have a guy who specializes in aircraft. If anyone's looking for such a person, PM me and I'll give you a contact... I can't say enough positive things about him.


    That's why it's so important for people to buy based upon mission. I know a few guys that were doing the same thing - hopping to get from FL to Aspen for example. When they finally broke out the expense, it made sense to move up in plane and still spend the same, not to mention save time!
     
  2. CavalloRosso

    CavalloRosso Formula 3

    Jul 12, 2007
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    So what exactly changed your mind?
     
  3. swilliams

    swilliams Formula 3

    Jun 14, 2006
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    Bowling Green, KY
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    Eclipse is a no go for a few reasons.
    Size, it is small inside.very small and payload is near nothing with full tank.
    Eclipse had a lot of problems first time around with the 500, Although it looks like they have them figured out, Id rather not be a 550 test dummy. Cessna has been around for years.
    If banks are shy about financing them, it makes me worry. Eclipse 30% down, Cessna available 10% down. That says a lot.
    The Cessna 510 is not perfect but its a good starting point. Still looking for a part time pilot and a fractional partner in my area.
    Running out of time for 2013 tax bonus depreciation. Hopefully they keep this tax benefit open for 14.

    If running par 91, Is registering in Montana a good idea, just pay use taxes in home state?
    Can I dry lease it to a par 135 operator while its just 91 for my use? The aircraft I am looking at is set up for 135 use just incase I have to resell I figured it would be good for resale.

    In 4-5 years the aircraft can be converted to personal use tax free, still have to pay income tax if you sell it(recapture), but you can do 1031 like kind exchange for a better aircraft at any time. If all goes well this sounds like the plan.
     
  4. Jason Crandall

    Jason Crandall F1 Veteran

    Mar 25, 2004
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    #29 Jason Crandall, Oct 25, 2013
    Last edited: Oct 25, 2013
    Like I said earlier........ I don't know your price poiint but you can't beat a PC12. It hauls a ton and has massive range. It's perfect for short hops and almost perfect for coast to coast. I run mine Atlanta to California all the time with 6 people plus bags and cases of wine.

    I've shopped and flown everything. I feel I know more about this market than anyone on the planet.

    The little jets are cool if you want to pull up and have a jet a sitting there (sex appeal). But they're cheap for a reason. They're very range and load limited. Any short hop they do is no faster than a PC12. Any long hop they do will take longer because they have to stop for gas. I can take off out of Aspen with a full boat and make it non stop back to Atlanta. Even medium sized jets on this mission will need to stop in Denver for fuel after taking off from Aspen for weight reasons.

    I've owned several airplanes. You cannot beat the utility of a PC12....... But they're expensive to buy.
     
  5. Jason Crandall

    Jason Crandall F1 Veteran

    Mar 25, 2004
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    As for registering....... It's not a car. You register with the FAA. It's Federal registration. SOME states require you to register. But I would never home base in a state like that. WHERE you close your sale is a big deal too. You need to do some research. Some states are designed for this. Some states you need to avoid.
     
  6. donv

    donv Two Time F1 World Champ
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    Jan 5, 2002
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    Some states do have personal property taxes, which apply to aircraft. I know California does.

    In the end, I don't know what you can do about it, other than moving. Thankfully, Oregon does not-- except for a small annual registration fee, which is reasonable.

    There are things you can do to avoid sales or use tax, but you really need to consult with an attorney who knows your state laws. Plenty of people from California base their aircraft in Oregon to avoid sales tax and personal property taxes, but of course the cost of flying an hour or two any time you want to use the airplane has to be factored in.
     
  7. WJGESQ

    WJGESQ Formula 3

    Dec 30, 2004
    1,477

    Seems like anyone wanting one of these VLJs would want at least 1000lb payload w full fuel.
     
  8. RWP137

    RWP137 Formula 3

    Apr 29, 2013
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    Rick
    Do you really want the "Part Time Discount Pilot"?
     
  9. dmark1

    dmark1 F1 World Champ
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    The Mustang is a much better aircraft with a MUCH better factory support system. I wouldn't trust Mason as far as I could throw him. Buy a Mustang.
     
  10. dmark1

    dmark1 F1 World Champ
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    There you go again Jason. Ask the OP if he would rather have a PC12 with its ungainly appearance or a Mustang and 1.5 million dollars in cash in the luggage compartment? ;)
     
  11. Jason Crandall

    Jason Crandall F1 Veteran

    Mar 25, 2004
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    PC12 is ugly no doubt. But the uglier the airplane the better it is. Ha. Sad but true.

    Unfortunately a Mustang won't meet my mission. Just took 6 friends to Playa Del Carmen for New Years. 6 plus bags 900NM over the Gulf. Landed with 1500lbs of fuel on board.

    6 plus bags and skis to Aspen this week. Non stop both ways.
     
  12. donv

    donv Two Time F1 World Champ
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    Mark, just out of curiousity, aside from being newer and flying higher, what advantages does the Mustang bring over your old MU-2?

     

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