Has anyone here ever acquired a DA42 via Diamond CPO for sale program as a Canadian resident?
If so, care to enlighten me on the financing process, training/familiarization, insurance, TCO, etc. within Canada?
Thank You
Inquiring the Diamond CPO for sale
Moderators: Rick, Lance Murray
Re: Inquiring the Diamond CPO for sale
I just started the process. Spoke to the factory rep and provided the options I was interested in. Waiting on the quote back. It's a 700-1000 hour job he said to re-engine with Austro or Continental engines and zero time the time life components. Expect to pay more than some I see listed on the Internet. The financing appears to be Airfleet capital which is a well known aircraft financing company. Probably expect 4-5% rate for 20 years.
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Re: Inquiring the Diamond CPO for sale
The financing may be tricky. Banks lend with strict loan-to-value limits, and CPO or not, these are 2006-7 DA42 aircraft.
With comparable (TDI) planes transacting in the $350-$400,000 range, banks are not likely to be able to do 80% LTV loans on an aircraft that is well outside that range. GFC700 and WAAS are nice to have, but they won't inflate the lending value by what they cost.
When we do 2.0 conversions, the labor budget is 250 hours. Either conversion requires motor mounts, sometimes cowlings, G1000 reprogramming, prop overhaul, etc. In some cases, the 1.7 cowlings can be modified to clear the 2.0 engine, and this saves 10's of thousands of dollars.
As for training, there is an excellent located at London ( http://www.dfclondon.com/ ), and they are excellent with both the TDI and NG aircraft.
-dan
GLDAS
With comparable (TDI) planes transacting in the $350-$400,000 range, banks are not likely to be able to do 80% LTV loans on an aircraft that is well outside that range. GFC700 and WAAS are nice to have, but they won't inflate the lending value by what they cost.
When we do 2.0 conversions, the labor budget is 250 hours. Either conversion requires motor mounts, sometimes cowlings, G1000 reprogramming, prop overhaul, etc. In some cases, the 1.7 cowlings can be modified to clear the 2.0 engine, and this saves 10's of thousands of dollars.
As for training, there is an excellent located at London ( http://www.dfclondon.com/ ), and they are excellent with both the TDI and NG aircraft.
-dan
GLDAS
Dan P. Eldridge
Great Lakes Diamond
Great Lakes Diamond
Re: Inquiring the Diamond CPO for sale
Out of curiosity, where are you based?
I am based on CYRP. Off course there are many other questions I will ask such as; the monthly hangar cost, the factory rep you spoke to, the financing company person you spoke to, etc.
Perhaps, we can communicate via aryobwatgmaildotcom.
Thank you for your help.
I am based on CYRP. Off course there are many other questions I will ask such as; the monthly hangar cost, the factory rep you spoke to, the financing company person you spoke to, etc.
Perhaps, we can communicate via aryobwatgmaildotcom.
Thank you for your help.
Nickbillfish1 wrote:I just started the process. Spoke to the factory rep and provided the options I was interested in. Waiting on the quote back. It's a 700-1000 hour job he said to re-engine with Austro or Continental engines and zero time the time life components. Expect to pay more than some I see listed on the Internet. The financing appears to be Airfleet capital which is a well known aircraft financing company. Probably expect 4-5% rate for 20 years.