Dealers See Improvement In Sales Of Pre-Owned Aircraft
Have you been thinking of selling your airplane lately? Now might be a good time. The National Aircraft Resale Association (NARA) says it is seeing the ingredients for a recovery in pre-owned aircraft sales. This assumption is based on factors ranging from the stabilization of aircraft values to opportunities created by the expiration of fractional contracts. The group claims pressures being placed on older aircraft are adding to the potential activity increase. In addition, NARA says some financiers and insurers are becoming reluctant to support older aircraft. ] "Inventory levels are high, resulting in almost unprecedented choice. Interest rates are at historically low levels, and prices have stopped declining. The combination of these factors represents a classic buyer's market," said Tony Friend, president of Aircraft Shopper Online and chairman of NARA's Industry Trends committee. NARA says other evidence of a likely turnaround includes an increase in turboprop sales, first-time buyers entering the market and price stabilization that has halted the precipitous drops of the past few years.