Frequently Asked Questions:
Q: Why should I consider DiamondShare™?
A: The better question truly is, “Why wouldn’t you want the advantages of this program?” Once you’ve studied the details and impacts of this approach we think you’ll be very excited and we can help you determine if participation as an owner or member is best for you.
Q: Is the program only for the DA40 XLT?
A: The program has just expanded! It now includes the DA40 XLT, DA40 NG, and the Diamond DA42.
Q: Can we use the program to purchase a used Diamond?
A: No. The unique package of training, warranty and maintenance benefits is tied to the delivery of a NEW DA40 XLT coupled with the value of special promotion incentives to provide the ideal experience, economics and piece of mind.
Q: What if we want to put the aircraft in a hanger instead of tie downs as specified in the example?
A: The owner controls and confirms all details about the arrangements and pricing of the program. The owner picks the plane, options, base, lease package details and payment structures offered. The owner is always in charge and the final word on the structure and terms.
Q: How will we coordinate the scheduling of the aircraft?
A: The DiamondShare™ package includes a website and online calendar for scheduling plus other helpful tools and support access.
Q: What additional costs do I need to plan for?
A: The DiamondShare™ arrangement with current special promotions includes delivery costs, first year annual and oil changes, insurance premium, first year database and weather subscriptions, a training package, Diamond apparel (hat and shirt), website setup, scheduling system, and staff to coordinate the marketing plan to locate your first two members. Plus there is comprehensive accounting, tax and legal support included! So it includes most everything except: sales taxes, fuel, property taxes, and unscheduled maintenance. Owner start up is typically only 15-20 percent down with potential positive cash flow tax advantages depending on your tax situation. Members usually pay about $1000 per month for access and then a surcharge for storage costs, taxes on the lease amount and an annual $500 DiamondShare Membership fee. Terms and prices vary based on equipment and base locations.
Q: I am a student pilot, can I be an owner or member?
A: Yes and maybe. Yes you may be an owner. Each owner sets the minimum pilot requirements so you may be able to join as a member by paying an insurance surcharge if an owner accepts students. The beauty of the program is non-pilots and students can be owners and transform their lives immediately with assistance from professional pilots and Certified Flight Instructors while enjoying the economic and tax advantages of the program.
Q: What about insurance?
A: Each pilot is named on the aircraft insurance policy. Additional personal liability coverage is available. Each pilot will be asked to complete a pilot questionnaire.
Q: Will I be liable for the full finance amount?
A: Owners own the plane and carry any finance liability they choose to take on. Attractive financing options are included in the program and of course owners can purchase without financing and enjoy immediate positive cash flow. Members are liable for their annual lease commitment but are not liable for the financial note that may be on the plane.
Q: What happens if one of my members does not make his payment?
A: Members that do not pay on schedule risk payment penalties, the loss of their security deposit and loss of access with no refunds. Owners can replace delinquent members at their discretion.
Q: How many people will share the plane?
A: The program is designed for 2 to 4 parties total at the discretion of the owner. Your lease agreement will define your terms of access.
Q: What if one of the pilots damages the aircraft
A: The operating agreement specifies that each pilot is responsible for damages he causes while Pilot in Command and of course there is insurance on the aircraft.
Q: So how much is it?
A: To understand the economics as an owner it is vital that you review your situation with a DiamondShare™ Team Member. Owners invest in cash or a downpayment. The economics for ownership in the Share & Save Program can be extremely compelling. Tax consulting is available for each owner to determine actual after-tax flows and many owners will enjoy a cash flow positive purchase and a very economical total cost of ownership. Members pay about $1000 per month for access to the aircraft.
Q: Can we get an airplane with an Air Conditioner?
A: Absolutely! Cabin Cool Air Conditioners are now available on the DA40 XLT. The price of this option is not included in the standard DiamondShare™ base figures.
Q: What about Training?
A: The DiamondShare™ program leverages the flight training abilities of our network of Diamond Flight Centers in your local area and there is even an option to go to the Diamond Aircraft factory in London, Ontario for your pickup and training included in the program. Members will be required to obtain check outs in the aircraft regardless of their previous experience in the make and model.
Q: It all sounds a bit too good to be true, what’s the catch?
A: Remember, the program is NOT A PARTNERSHIP PROGRAM and as such avoids all the complexities of formation, capitalization and management that go along with partnership. Remember, aircraft prefer to be flown more than most owners fly them. That excess capacity is your asset to leverage for enhanced economics. The DiamondShare™ Share & Save Program is actually quite simple. One owner purchases the plane and several other qualified pilots lease block time on the aircraft to help that owner transform his ownership economics. An owner that has some business use for the aircraft can typically make a downpayment, receive tax savings exceeding the downpayment and have a few members cover the monthly note payments on the aircraft. This makes for very compelling ownership economics indeed. You may not qualify for that scenario but even without outside business use and tax savings, the ability to have everything organized for you and enjoy having others pay for your plane is a great alternative to having to pay for everything yourself or “settle” for an older aircraft. The Share & Save Program is thoughtful, complete, streamlined, straightforward. You can literally have your New Plane in just a matter of weeks for economics you won’t believe at first and you will love after just a bit of research.
Q: Can I talk to someone that is involved already to see what they have to say?
A: Absolutely! Our owners and members enjoy the opportunity to share about their passion for these great airplanes and their satisfaction with the economics this program brings. Just give us a call at 406-FLY-1NOW / 406-359-1669.
DiamondShare™ and DiamondShare Share & Save™ are Trademarks of DiamondShare™, a group company of the Five Star Marketing, Inc. network All Rights Reserved. Copyright 2011 – 2015
The DiamondShare Program is Available Exclusively Through LifeStyle Aviation