The Diamond DA62, a showstopper with its glossy twin engines and frame, whispers the siren call to fliers. This beauty, a courtship of cutting-edge composites and zippy diesel thrusters, teases with a seven-seat embrace I can’t shake from my head.

As a wise person once didn’t say but should have, “Owning your wings costs.” Thus, I dove headlong into the abyss, sleuthing for the naked facts on the DA62’s mortgage and keep. This question was my Quixotic tilt against the windmills—deciphering the blood, sweat, and credit that ushering this marvel into your hangar demands.

A brand new DA62 lists for right around $2 million in 2024. However, dealers often offer discounts, incentives, or negotiation room from that base price.

Cue the foreword to my humble treaty, etched with flights of arithmetic wonder. If it’s the chase for the secrets of DA62 economics that stirs your brew, stay the journey for a takeover of aeronautical spelunking. A scribble for the hopefuls, the smitten, and the data nerds of the yearning sector of skyward delights.

Why Pilots Love the Diamond DA62

The DA62 was designed from the ground up to deliver safety, efficiency and comfort. Some of the key benefits that make this aircraft so appealing include:

Two turbo-charged Austro AE330 diesel engines burn jet fuel efficiently at 17.1 gallons per hour total. This provides lower operating costs than comparable piston twins.
Its modern composite airframe keeps weight low for performance while also reducing maintenance.
The Garmin G1000 NXi glass cockpit creates an intuitive, streamlined flying experience.
Excellent visibility and ergonomics make for comfortable long flights. Up to 7 people can fit in the spacious cabin.
With a range over 1,200 nm and a cruising speed of 155 knots, the DA62 can take you far with flexibility.
The useful load is a substantial 1,543 pounds, so you can fill the seats and tanks without overload concerns.

For any pilot who wants a state-of-the-art piston twin with stretch-your-legs comfort across long distances, the DA62 is an aircraft worth dreaming about. Now let’s explore what it takes to turn that dream into reality.

Cost of Buying a New Diamond DA62

So you’ve decided the DA62 is your dream plane. How much will this twin-engine beauty set you back?

So, as I said above, a brand new DA62 lists for right around $2 million in 2024. However, dealers often offer discounts, incentives, or negotiation room from that base price.

Compare that to the cost of a DA20 or how much you’ll pay for a DA-42.

Some optional extras you may consider on a new DA62 that increase the price include:

Upgraded Garmin avionics like the GFC700 autopilot
Additional spare parts beyond the standard kit
Premium paint or interior options
De-icing equipment for flying in icing conditions
Higher capacity oxygen systems

With any luck and negotiation, you may buy a new DA62 for around $1.8 million or less. While not an insignificant sum by any means, it’s quite reasonable when you consider the performance, efficiency and comfort the DA62 provides.

What Does a Pre-Owned Diamond DA62 Cost?

If purchasing a new DA62 is beyond your budget, buying pre-owned can make this advanced aircraft more attainable.

Since the DA62 is a relatively new model first produced in 2015, used planes are somewhat limited. However, you can expect to pay between $1.57 million to $1.8 million for a DA62 built between 2018 and 2020 with reasonably low flight hours.

The overall condition, maintenance history, engine times, avionics suite, and paint/interior finish will impact used DA62 pricing significantly. One with damage history, original engines nearing TBO, and a basic avionics suite will sell for less than a pristine, low-time example.

As with any used aircraft purchase, diligent inspection and evaluation is a must before buying to get a fair deal. While still a major purchase, you can realize substantial savings buying used vs. new.

What Are the Fixed Ownership Costs on a Diamond DA62?

When budgeting your total cost of ownership for a DA62, fixed costs will be around $50,005 annually. These expenses must be paid regardless of how often you fly.

Hangar Costs

One of the largest fixed items is hangar rental to store and protect your aircraft. For the DA62, budget $1,667 per month or $20,000 annually for a hangar in most US locations. Higher cost areas can run twice that amount.

If building or buying your own hangar is an option where you live, that’s a way to potentially lower this major cost over time.

Insurance

Full coverage hull and liability insurance will likely cost about $15,000 per year. Premiums vary based on plane value, location, qualifications, and other factors. Get quotes from multiple providers to potentially save.

Annual Inspection

Every aircraft must undergo an annual inspection to remain airworthy. For the DA62, plan on a $9,000 annual inspection cost on average. Additional routine maintenance and repairs required to pass the inspection will also need to be budgeted for.

Engine Overhaul Reserves

While diesel engines are more durable than avgas counterparts, they do eventually require overhaul. It’s smart to save reserves each year towards this major future cost. Figure around $5,400 per year for engine overhaul savings based on published Austro AE330 longevity.

Miscellaneous Fixed Costs

Other fixed costs like subscriptions for navigation databases, weather services, tiedown/parking fees, and similar expenses may add up to around $605 annually.

In total, keep about $50,005 set aside annually for DA62 fixed operating costs.

Variable Costs of Flying a Diamond DA62

When you actually fly your DA62, variable operating expenses will accumulate. These will typically total around $16,134 per year assuming 100 flight hours annually.

Fuel Costs

One of the DA62’s strengths is fuel efficiency. At a typical power setting, it burns just 17.1 gallons per hour across both engines. With Jet-A1 fuel at around $5.40 per gallon, your hourly fuel cost will be approximately $92.

Engine Oil

Oil consumption in the diesel engines is low, so plan on $25 per flight hour for oil costs.

Overhaul Reserves

As mentioned in the fixed costs section, ongoing engine overhaul reserves are a wise budget item to account for the future overhaul. At $25 per hour, you’ll accrue $2,500 towards this major expense annually based on 100 flight hours.

Unscheduled Maintenance

Even reliable turbodiesel engines require occasional unscheduled maintenance and repairs that aren’t covered in the annual inspection. Budgeting $15 per hour is reasonable, so that allows $1,500 annually for maintenance costs.

Miscellaneous Variable Costs

Figure on another $10 per flight hour for incidental expenses like landing fees, crew meals, parking and similar variable costs.

In total, variable costs add up to approximately $16,134 per year assuming 100 flying hours. The more you fly, the higher this variable expense category climbs.

Total DA62 Operating Cost Per Hour

When fixed and variable expenses are combined and divided across 100 flight hours annually, the total hourly operating cost (excluding engine reserves) comes out to around $661.

Here’s a breakdown of the major categories:

Fuel Costs: $92/hr
Oil Costs: $25/hr
Overhaul Reserves: $25/hr
Unscheduled Maintenance: $15/hr
Miscellaneous Variable: $10/hr
Fixed Costs (Annualized): $494/hr

So while the DA62 is not the least expensive aircraft to operate, its fuel efficiency combined with total comfort and performance helps justify the cost for many owners.

How Do You Pay for a Diamond DA62?

Very few pilots can afford to purchase a DA62 with cash outright. But creative financing can make ownership possible. Here are some purchase options to consider:

Aircraft Loans

Banks and credit unions may provide financing for a new or used DA62 purchase. A substantial down payment is typically required, often 20% or more of the total price. Interest rates are usually higher than other loans. Shop multiple lenders to get the best possible terms.

Leasing

Leasing a DA62 through a specialty finance provider allows you to operate it without purchasing outright. Lease terms of 4-7 years are common. At the end, you can optionally buy the aircraft for a residual value amount. Monthly lease payments are often far lower than aircraft loan payments.

Shared Ownership

If the entire cost of a DA62 is too much for one person, shared ownership can make this aircraft attainable. Join together with a small group to purchase and operate the plane together. Costs are divided but availability is also shared within the group.

Business Ownership

Purchasing through a business entity allows the aircraft to be expensed and provides potential tax advantages. Consult an aviation tax expert to fully understand regulations and possibilities.

For many pilots, creative financing is the only realistic pathway to owning a marvel of engineering like the Diamond DA62.

Is Buying a Diamond DA62 Worth the Investment?

There’s no sugar-coating the fact that owning a DA62 requires serious financial resources and commitment. However, for pilots who regularly need a capable, comfortable traveling machine, the operating costs can be justified.

The DA62’s jet fuel economy, range, luxury interior, and advanced technology make every mile a pleasure for pilot and passengers alike. Those who run aircraft intensive businesses or simply desire the safety and utility of a modern twin may find the DA62 well worth the investment.

While renting or chartering a DA62 is always an option for those with more modest aviation budgets, nothing quite compares to having your own plane. With realistic budgeting and financing, you can turn your DA62 dreams into a reality.

I hope this comprehensive overview of the costs to buy, own and operate a Diamond DA62 has provided helpful guidance. No doubt about it, this is one outstanding aircraft. Perhaps I’ll see you cruising high above the clouds one day in your very own DA62!