Hourly Engine Programs
You're a smart airplane owner. When you first bought your airplane, you had a mechanic run through it during a pre-buy to identify all the potential maintenance issues. Now as an owner, you're even more serious about keeping it up-to-snuff. When it comes to your engine reserves, however, you're likely falling behind. The majority of aircraft owners don't maintain engine reserves. Gemco is changing that.
What Are These "Hourly Engine Programs?"
Hourly engine programs help you save up for large future expenses by slowly saving small amounts of money as you fly. Usually referenced as "reserve," the money put into these accounts provides a financial buffer for repairs, inspections, and unexpected events.
Hourly plans are the industry standard for airlines and large corporate operators. With engines that cost millions of dollars and other related expenses just as high, without a savings plan these operators wouldn't have the liquidity to meet their requirements.
For years, special hourly plans have only been available to these "big guys." Now however, Gemco is bringing the advantages of hourly engine programs down to the entire general aviation fleet. With a diverse set of programs, every owner will find something that will ease their ownership burden.
Why Do I Need An Engine Program?
It seems easy, right? All you have to do is put a small amount of reserve cash away each hour you fly.
However, we did the research here at Gemco. The majority of people do not maintain reserve accounts for their aircraft's engine. Some of the reasons people gave us include:
- "My engine could blow up at any time, so maintaining an hourly reserve wouldn't make sense."
- "I don't plan to keep my airplane to overhaul, so I'm not concerned about saving for it."
- "I'll just finance my next engine via a home equity line of credit, or a personal loan."
- "I can come up with the money for an overhaul if I had to."
Sadly, none of these answers represent the reality of the situation. It's why we see aircraft on the used market selling well below what they should because an engine failed and the owner didn't have a plan to replace it. Every owner needs a plan, and every owner needs to stick with it for the life of their engine.
Why Should I Enroll In A Gemco Program?
Gemco is the only provider of hourly engine programs tailored specifically for piston engine aircraft. Our programs take the hassle out of preparing for your next overhaul by establishing a realistic overhaul cost, creating affordable monthly payments, and managing your reserve savings.
Our programs bring the ultimate level of flexibility to owners, including:
- Transferability - You can transfer your account's equity to a new owner, or to a new engine.
- Consistency - Don't guess about your engine. Our pricing ensures a predictable and consistent payment plan.
- Availability - Gemco lets your money earn more money through conservative investments focused on beating inflation. If you need your money earlier than anticipated, you'll have access to it.
- Peace of Mind - Stop worrying about your next overhaul, and let Gemco help you develop an actual plan.
So take some time to learn about Gemco's hourly engine programs, and see how we can help you by building a custom program for you, free of charge.