Potential New DA62 Owner

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CFIDave
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Re: Potential New DA62 Owner

Post by CFIDave »

If you live in TX, you'll have to buy a new DA62 from Premiere as the exclusive Diamond distributor in that territory -- they should be able to answer your questions.

But I can confirm about a 2 year wait for a new DA62 if ordered now.
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MackAttack
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Re: Potential New DA62 Owner

Post by MackAttack »

I placed a deposit on a DA62 and signed a contract with Premier last June (2021). Sent you a pm if you’d like more details - we can discuss offline. At that time the wait was expected to be 12-15 months.
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Re: Potential New DA62 Owner

Post by Boatguy »

While I entirely empathize with the parking $300K for two years interest free, the current economics have been a little different. I put down 10% and the value of my yet to be delivered plane has jumped by 26% or about what I would have earned in the S&P 500 last year. Maybe it's a bubble, or maybe a DA62 order is a better inflation hedge than BTC or TIPS.
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Re: Potential New DA62 Owner

Post by Bryce »

True, prices have been going up, I'm just saying putting 20% down on an airplane that won't be delivered for 2 years seems a little excessive to me. For others that may not seem so. Not to mention it's an unsecured deposit. When I inked my contract to buy my DA62 this past September, I was on a fishing trip with a good friend of mine. He happens to collect high end cars (Ferrari, Bentley, etc) and I asked what he had to put down on his most recent order from the factory. It was $20k and delivery within 4 months. That equates to about a $100k deposit on a DA62. I know cars are different from airplanes. This will be my 3rd plane bought, but only the first one ordered from the factory.
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Re: Potential New DA62 Owner

Post by MackAttack »

But you don't have to park the full 20% for two years; most dealers will offer you something better than that. More like 10% down and the rest depending on what your dealer is willing to do. So I don't think it's an excessive deposit structure, at least in practice. Of course that was in 2021, so I have no idea what people are doing now.
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Re: Potential New DA62 Owner

Post by Bryce »

You're right, it really is dealer-to-dealer and what they want to do or accept. I was just referencing what my dealer was asking for initially. I put substantially less than 10% down, and found the terms acceptable. My biggest concern at this point is not getting the airplane delivered in 2023. My estimate was third quarter of 2023, but from what I am reading it would not be a shock for that to be pushed back to 2024. If tax laws aren't changed and 100% bonus depreciation extended, I might be forced to go another route and just flip my DA62 at delivery. I am okay with only getting 80% bonus depreciation in 2023, but I don't think I am willing to buy an airplane and put it in service in 2024 and only get 60% that year. I really hope it doesn't come to that though.
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Re: Potential New DA62 Owner

Post by bdbogle »

Blueskieswinds@6 wrote: Sun Jan 02, 2022 4:02 pm So I was planning on purchasing my DA 62 in 2024 or 2025. Originally I mistakenly thought I could wait until ready, then shell out the cash to purchase my aircraft and 6 months later have it in my hangar. From reading these threads, it appears I better expect a 2 year wait from the day I commit to purchasing this aircraft? If so, I guess I should consider getting in line today since I couldn't have the aircraft before 2024 regardless. Does anyone know the minimum down payment I need to hand over to get on the waitlist now? Also, is it non-refundable? Not looking forward to cashing in investments for a deposit earning nothing over the next 2 years but I appreciate the information and experiences the group has had on that front.

Thanks in advance for your input!
I just executed a contract with Premier (down in Houston) and the initial commit is 10% of the base price (Aircraft configured with A/C and TKS ~$1.4M). So you're looking at $140k+ to get a delivery slot. Mine is currently estimated at Q1 '24. Then 9 months out from expected delivery date you'll owe the remaining 10% plus any options cost to get to the 20% total purchase price down. The initial 10% is technically non-refundable but if you say lose your medical, get second thoughts, etc, Premier is rather sure you'd be able to sell your position minus a brokerage fee. Given the demand, you might be able to make a little bit or at least break even. I'm getting giddy and I'm still 24 months away!
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Re: Potential New DA62 Owner

Post by Karim »

Hello everyone - New to the forum, having lurked for several months and learned a tonne — very grateful.

I have just been offered the opportunity to take delivery of a new DA62 in April 24, minding a 30% deposit. I thought this a little excessive but assumed it was standard and was about to sign the order form, when I came across this thread suggesting much lower advances. I have been told by one European dealer that such is the current demand for the 62 that a 30% deposit on the full-optioned price is nowadays required: that’s EUR 500K. I am based in Egypt and have so far dealt directly with DAI, there being no dealer in my area. Are there more sensible terms to be had?
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Re: Potential New DA62 Owner

Post by Boatguy »

I don't think anyone in the U.S. has put down more than 10%. There are a few recent DA62 buyers in Europe who would have better information. Hopefully they will respond.
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Karim
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Re: Potential New DA62 Owner

Post by Karim »

Well, that’s encouraging to hear, especially as mine will be an N-registered aircraft (through a US trust). I spoke late last night to Premier, who helpfully explained that they would ordinarily charge 10% upon contract signing, and another 10% six months prior to delivery, with the balance due shortly prior to the big day — which seems overall more reasonable. Less helpfully though, he quoted a 2025 delivery forecast and explained that they would sign only a letter of intent at this stage (minding a USD10k deposit) as they don’t yet have 2025 pricing. Are others able to obtain firm quotes?
Last edited by Karim on Fri Aug 19, 2022 5:51 am, edited 2 times in total.
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