expense analysis

[Rosspilot]

I did some analysis of the data I keep (which on the airplane is EVERYTHING)
and thought the readers here might find some of it interesting.

I added up everything I have EVER spent on this 1967 C-172H (acquisition,
upgrades, annuals, fuel, insurance, repairs, parking, new headsets and GPS,
paint job, detailing, new glass, Strikefinder, etc. In short, EVERYTHING spent
on the plane. It is (as of now) $94,900.00.

I have owned the plane for 5.5 years. That means I have paid $17,250 per year.

I have flown the airplane 550 hrs. My cost per flight hour is $172. Maybe
that's where the "172" came from <G>.

Since I use the airplane in my business, there are significant tax
considerations that offset that cost, BUT

Considering all that goes with owning an airplane, for the joy of it, for the
freedom it represents, the attainment of a lifelong ambition and dream, for the
utilitarian purpose that it serves, for the convenience, and mostly for the
sense of connection between man and a flying machine, it's a HUGE bargain.

Just returned from my third round trip NY-Tampa flight. Left the day of the
blackout at 6:45 AM. Didn't even know about it till arrival in Florida at 4
PM. I am SO glad I decided not to go commercial . . . I would have been caught
in the crush, and sleeping on the airport floor somewhere.

Fuel consumption over the 19.7 (tach) and 23.3 (Hobbs) time was 7.40 gal/hr.


www.Rosspilot.com

[Montblack]

Sell the plane for $47,500 and your cost of ownership would be down to $86
per flight hour. Cost per year - $8,625 per year. <g>

(tax considerations are a bonus)

Now ...what to buy next?

--
Montblack

("Rosspilot" wrote)
> I did some analysis of the data I keep (which on the airplane is
EVERYTHING)
> and thought the readers here might find some of it interesting.
>
> I added up everything I have EVER spent on this 1967 C-172H (acquisition,
> upgrades, annuals, fuel, insurance, repairs, parking, new headsets and
GPS,
> paint job, detailing, new glass, Strikefinder, etc. In short, EVERYTHING
spent
> on the plane. It is (as of now) $94,900.00.
>
> I have owned the plane for 5.5 years. That means I have paid $17,250 per
year.
>
> I have flown the airplane 550 hrs. My cost per flight hour is $172.
Maybe
> that's where the "172" came from <G>.
>
> Since I use the airplane in my business, there are significant tax
> considerations that offset that cost, BUT
<snip>

[Rosspilot]

>
>Sell the plane for $47,500 and your cost of ownership would be down to $86
>per flight hour. Cost per year - $8,625 per year. <g>
>

That's the thing . . . I have NO desire to sell her and go to a different
plane.
Yes, sometimes I wish it would go faster, or could carry more, but the vast
majority of my flying is taking off and landing at the same airport within 1.5
and 100 nm of home. She's a great platform for my photography, and I seldom
have more than one on board with me. The plane is plenty for my wife and I (no
kids) to take day trips. And I KNOW this plane. I look forward to the day when
I can upgrade the 145hp O-300.





www.Rosspilot.com

[Tom S.]

"Rosspilot" > wrote in message
...
> I did some analysis of the data I keep (which on the airplane is
EVERYTHING)
> and thought the readers here might find some of it interesting.
>
> I added up everything I have EVER spent on this 1967 C-172H (acquisition,
> upgrades, annuals, fuel, insurance, repairs, parking, new headsets and
GPS,
> paint job, detailing, new glass, Strikefinder, etc. In short, EVERYTHING
spent
> on the plane. It is (as of now) $94,900.00.
>
> I have owned the plane for 5.5 years. That means I have paid $17,250 per
year.
>
> I have flown the airplane 550 hrs. My cost per flight hour is $172.
Maybe
> that's where the "172" came from <G>.

How much did you buy it for and how much could you sell it for today?

Airplanes are not depreciating in cost anymore (like automobiles). They cost
more used than they did new.

[Rosspilot]

>How much did you buy it for and how much could you sell it for today?

I paid $28,500. Since owning it I have added:

Strikefinder $5000
Whelan Comet Strobes $1400
Garmin 327X Transponder $2400
New Paint and Glass $12,000
Major Engine Repair $13,000
Garmin GPSMap 196 $1000
Bose X Headset $1000
and many, many, many other smaller items (step kit, new vents and visors, EGT
guage, carb temp guage, 4-place intercom,
inertial shoulder harnesses, firebottle, and, well, you get the idea :)

I am TOLD (and using the many, many aircraft evaluative services and websites
including AOPA's and others) it would retail around $42,000 in the condition
and with the time and equipment it has. I wouldn't even consider it.


www.Rosspilot.com

[Dan Luke]

"Jay Honeck" wrote:
> > I couldn't of said it better, Lee.
>
> Ahem. That's "I couldn't HAVE said it better, Lee."

Whew! My faith is restored.

[Dan Luke]

"Rosspilot" wrote:
> I did some analysis of the data I keep (which on the airplane is
EVERYTHING)
> and thought the readers here might find some of it interesting.

Indeed. Thanks, Lee.
I don't have the nerve to do the same for mine. I'm sure it's, ah... a
bit more.
--
Dan
C172RG at BFM

[Ray Andraka]

Or, as I tell the people who comment that it must be an expensive hobby, if you
want to do it bad enough you find a way. It might be not driving a late model
SUV, or not buying a McMansion for a house, dropping the 100 channel cable
subscription for basic services etc. It's all in the priorities. I know plenty
of people here in Rhode Island who spend far more on their boats that rarely if
ever leave the bay and are out of the water 9 mos of the year than I do on a
well maintained Cherokee Six. Many of these are the very same people who
comment on flying being a "rich mans's" hobby.

Jay Honeck wrote:

> > Considering all that goes with owning an airplane, for the joy of it, for
> the
> > freedom it represents, the attainment of a lifelong ambition and dream,
> for the
> > utilitarian purpose that it serves, for the convenience, and mostly for
> the
> > sense of connection between man and a flying machine, it's a HUGE bargain.
>
> I couldn't of said it better, Lee.
>
> To everyone who always says "flying is too expensive", I say you just
> haven't run the numbers. Compared to every other form of
> transportation/avocation/hobby/profession/addiction, aircraft ownership and
> flying wins, hand's down...
>
> There's just nothing else like it...
> --
> Jay Honeck
> Iowa City, IA
> Pathfinder N56993
> www.AlexisParkInn.com
> "Your Aviation Destination"

--
--Ray Andraka, P.E.
President, the Andraka Consulting Group, Inc.
401/884-7930 Fax 401/884-7950
email
http://www.andraka.com

"They that give up essential liberty to obtain a little
temporary safety deserve neither liberty nor safety."
-Benjamin Franklin, 1759

[Tom S.]

"Rosspilot" > wrote in message
...
> >How much did you buy it for and how much could you sell it for today?
>
> I paid $28,500. Since owning it I have added:
>
> Strikefinder $5000
> Whelan Comet Strobes $1400
> Garmin 327X Transponder $2400
> New Paint and Glass $12,000
> Major Engine Repair $13,000
> Garmin GPSMap 196 $1000
> Bose X Headset $1000
> and many, many, many other smaller items (step kit, new vents and visors,
EGT
> guage, carb temp guage, 4-place intercom,
> inertial shoulder harnesses, firebottle, and, well, you get the idea :)
>
> I am TOLD (and using the many, many aircraft evaluative services and
websites
> including AOPA's and others) it would retail around $42,000 in the
condition
> and with the time and equipment it has. I wouldn't even consider it.

Paid $28.5K, added major equipment of $33.8, now can sell for $42K.

Wouldn't it be great if you could do the same thing with your CAR.

Recalculate your costs with the final sell value and see what your hourly
comes to.

[Rosspilot]

>Recalculate your costs with the final sell value and see what your hourly
>comes to.

drops to $96/hr

www.Rosspilot.com

[Tom S.]

"Rosspilot" > wrote in message
...
> >Recalculate your costs with the final sell value and see what your hourly
> >comes to.
>
> drops to $96/hr


I wonder what it would be with a newer, or much newer unit. The newer (late
1980's on up) are not _depreciating_, they're _appreciating_!!

I was looking at a 1994 Commander 114B that costs more now ($259K) than it
did new in 1994 ($245k).

[Jay Honeck]

> > > I couldn't of said it better, Lee.
> >
> > Ahem. That's "I couldn't HAVE said it better, Lee."
>
> Whew! My faith is restored.

If you knew how many times I was interrupted while trying to post that
reply, you'd be surprised I was able to write coherently -- let along
correctly.

Danged pesky guests! :)
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

[ks_av8r]

"Rosspilot" > wrote in message
...
> I did some analysis of the data I keep (which on the airplane is
EVERYTHING)
> and thought the readers here might find some of it interesting.
>
> I added up everything I have EVER spent on this 1967 C-172H (acquisition,
> upgrades, annuals, fuel, insurance, repairs, parking, new headsets and
GPS,
> paint job, detailing, new glass, Strikefinder, etc. In short, EVERYTHING
spent
> on the plane. It is (as of now) $94,900.00.
>
> I have owned the plane for 5.5 years. That means I have paid $17,250 per
year.
>
> I have flown the airplane 550 hrs. My cost per flight hour is $172.
Maybe
> that's where the "172" came from <G>.
>
> Since I use the airplane in my business, there are significant tax
> considerations that offset that cost, BUT
>
> Considering all that goes with owning an airplane, for the joy of it, for
the
> freedom it represents, the attainment of a lifelong ambition and dream,
for the
> utilitarian purpose that it serves, for the convenience, and mostly for
the
> sense of connection between man and a flying machine, it's a HUGE bargain.
>
> Just returned from my third round trip NY-Tampa flight. Left the day of
the
> blackout at 6:45 AM. Didn't even know about it till arrival in Florida at
4
> PM. I am SO glad I decided not to go commercial . . . I would have been
caught
> in the crush, and sleeping on the airport floor somewhere.
>
> Fuel consumption over the 19.7 (tach) and 23.3 (Hobbs) time was 7.40
gal/hr.
>
>
> www.Rosspilot.com
>
>