"Chris Clarke" (shiftsandgiggles)
08/28/2013 at 17:04 • Filed to: planelopnik
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"Chris Clarke" (shiftsandgiggles)
08/28/2013 at 17:04 • Filed to: planelopnik | 0
| 17 |
This aviation blogger breaks down the cost of buying your own personal airplane and its not as expensive as you might think.
The Real Cost of Aircraft Ownership
For Sweden
> Chris Clarke
08/28/2013 at 17:05 |
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Doesn't provide numbers; just links to blog.
2/10 would not click again.
For everyone else:
$12,000 down payment
$1,500 insurance
$500 gas to ferry
$2,300 for annual plus IFR check
$1,000 pre-purchase inspection
$6,000 Illinois Sales Tax (I might hangar her in Wisconsin because of this, however)
$550 closing-fees by AOPA
Up-front cost of new plane: $23,850
davedave1111
> Chris Clarke
08/28/2013 at 17:09 |
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Owning a plane has always been relatively cheap. It's running it that costs a fortune. Fuel alone will cost $50-$100 per hour.
dogisbadob
> For Sweden
08/28/2013 at 17:11 |
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which is more than many people make in a year
FelixScout
> For Sweden
08/28/2013 at 17:12 |
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And the follow up to this bit is this:
Ways to reduce this cost:
Buy local, which could roll the pre-purchase into a full annual and eliminate the ferry cost.
Buy distant enough that it's across the state border (state luxury tax).
Finish my Instrument Rating (drops insurance to $900/yr)
That would drop the purchase-day price to: $15,750
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For Sweden
> dogisbadob
08/28/2013 at 17:14 |
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Though also about the price of a new mid-size sedan.
Casper
> Chris Clarke
08/28/2013 at 17:20 |
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Getting a plane is hardly the same as OWNING the plane. What eats people alive are the reoccurring costs and cost of use. That $2,300 check is yearly as is the cost of storage and maintenance. Those must be done regardless of you actually flying the thing. You must then deal with the additional costs of actually using it (fuel, extra wear and tear, depreciation, etc).
I know a lot of people that do it, but they are right there in the realm of boats as far as money pits go. You have to have it because you love it, not because you think it makes sense at all.
Chairman Kaga
> Chris Clarke
08/28/2013 at 17:31 |
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My grandfather died in his '62 Beechcraft Bonanza when he clipped power lines. My mom's freshman year of college. My wife's grandfather almost died in his Cessna when she was 5. She was watching him land when a wind shear pushed his wing over just as he was touching down. I've never been in a private plane. Ever. Seems to be tempting the fates too much for my luck.
That said, looks like fun.
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Chris Clarke
> For Sweden
08/28/2013 at 17:33 |
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Its not my blog and didn't want to copy/paste someone else's research. I thought linking would be the polite thing to do.
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Chris Clarke
> Casper
08/28/2013 at 17:37 |
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It might be in the realm of a boat as far as a money bit, but a bit more practical in terms of transportation, which makes it easier to justify.
$400-500 a month for insurance, maintenance, and storage isn't a far cry from what many people spend on their cars. And if you can find a buddy to chip in, you're that much more ahead of the game.
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Casper
> Chris Clarke
08/28/2013 at 17:45 |
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Yeah, the key is that most people make money from their cars (going to work). It would make far more sense if the same were true of the plane (like you were a bush pilot or something). Also, that $400 to $500 a month doesn't include the payment on the plane... which is what you are comparing to the payment on the car. If a car took that much to maintain it monthly, you would see a lot less driving.
Dave Ganzer
> Casper
08/28/2013 at 19:18 |
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It should be noted that the writer was using a Cherokee six as his example...Hardly an entry level airplane.
A more typical entry level airplane like a Cessna 150 can be had for $20k (Financed of course).
Operating costs ~$1k per year for Owner assisted Annual. $30-$50 per month for a tie down. $30 per hour fuel. $1k year insurance.
Typical pilot flys 50 hours a year so ~$4100 per year......
And you can sell it for what you paid for it when you want something bigger....Try that with a car.
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Dave Ganzer
> Chris Clarke
08/28/2013 at 19:23 |
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It should be noted that the writer was using a Cherokee six as his example...Hardly an entry level airplane.
A more typical entry level airplane like a Cessna 150 can be had for $20k (nice used car?).
Operating costs ~$1k per year for Owner assisted Annual. $30-$50 per month for a tie down. $30 per hour fuel. $1k year insurance.
Typical pilot flys 50 hours a year so ~$4100 per year......
And you can sell it for what you paid for it when you want something bigger....
Brian, The Life of
> Chris Clarke
08/28/2013 at 19:25 |
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A wise(ass) man once told me, "If it flies, floats or f_cks, you're better off renting." Too late for me on the last one but I've so far taken his advice on the first two and that has worked out well for me.
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Casper
> Dave Ganzer
08/28/2013 at 22:48 |
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Try taking the plane to Costco. ;) Not that I wouldn't try, but I'm pretty sure the city, state, and FAA would take offense.
Turbineguy: Nom de Zoom
> Chairman Kaga
08/28/2013 at 23:34 |
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Accidents happen. Not trying to sound cavalier here, but anytime you leave the ground you're at the mercy of forces that could hurt you. I've been flying since '95 and have been a flight instructor since 2001. In 2000+ hours of flying (and teaching) I haven't had any close calls; probably because my risk threshold is low and I don't fly if any one of a number of factors are going against me. And yeah, it is a lot of fun :)
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Turbineguy: Nom de Zoom
> davedave1111
08/28/2013 at 23:36 |
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Probably why most of the planes at my home field rarely move; esp the twins. Now that avgas is over $6/gallon I'm hoping to see the new aviation diesels more than ever.
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Turbineguy: Nom de Zoom
> For Sweden
08/28/2013 at 23:41 |
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That 2,300 for annual doesn't include fixing anything. Depending on what the inspection turns up (new cylinders? exhaust? magnetos overhauled?) that cost can go up quickly. Ask me how I know :)