Aircraft Ownership Spreadsheet

[KevinBlack]

Hi,

Dreaming about owning a acft. Looking at 70s something Warrior II with 3 to
4 others. I've had a quick look on the web, but couldn't find anything that
suits. Does anyone have a comprehensive spreadsheet for calculating
ownership costs, you know where you put in fuel, hangarage, engine reserve,
maint reserve, upgrade reserve, insurance etc etc so I can get a feel for
the rtue operating costs.

Here in OZ (YSCB - the nation's capital) the cheapest (and only aircraft
hired by other than Brindabella Airlines - expensive and opressive currency
requirements, but they are the only game in town) is a C172N hired by
Canberra Aeroclub at $167/hr wet. All the other flight schools/hiring
establishments have closed down, so much for the future of GA. This acft is
being sold so that the club can leaseback one or two LSA type aircraft at a
cheaper rate (we'll see). The next available aircraft is at YGLB which is a
round trip of almost 3 hours ($160 for a Warrior II). It makes an hour of
circuits into an almost 5 hour excursion:(

It is now looking like owning your own aircraft might actually be a better
option than hiring. Any help appreciated.

Cheers,
Kevin

[Jack Allison[_1_]]

I found Geza Szuurovy's book "Aircraft Partnerships" to have some great
info. on the cost breakdown for ownership as well as ideas for
partnerships. There is also a spreadsheet in the book...would require
manual entry but it's not all that difficult to do

Good luck in the search Kevin. There's nothing like having your own
(share of a co-owned) plane.


--
Jack Allison
PP-ASEL-Instrument Airplane

"To become a Jedi knight, you must master a single force. To become
a private pilot you must strive to master four of them"
- Rod Machado

(Remove the obvious from address to reply via e-mail)

[A Lieberma]

Jack Allison > wrote in
:

> Good luck in the search Kevin. There's nothing like having your own
> (share of a co-owned) plane.

I will second Jack's opinion above. There is no price on the pride of
owning your own airplane.

As far as cost, I *think* the first evaluation would be your flying
habits.

If you fly 100 hours a year, that's a cost of 10K in rental. Just like a
house, would you rather put that money into somebody elses pocket or
would you rather have the 10K shows something tangible?

If you only fly 50 hours a year, then it may not pay to own your own bird
since it would be a diservice to the airplane as it needs to be airborn
to keep parts lubricated and running up to speed (literally and
figuratively).

Your maintenance cost would POTENTIALLY increase due to parts failing
faster from lack of lubrication / usage. (don't ask, been there and done
it on buying an underused plane).

You would probably be spending the 10K a year on something anyway, so why
not on an airplane? And you have something to show for it.

For what it's worth, my CFI says based on his experience (20K hours of
flying) that 125 hours a year is where the break even point is from
owning vs renting a C172.

That figure does vary by type and make of airplane, so a C152, he said
100 hours would be more appropriate depending on the quality of plane you
get.

I fly no less then once a week, unless the plane is down for some major
part repair (engine overhaul) or upgrade (avionic upgrade).

Allen

[Doug[_1_]]

Here are the ownership items.

FIXED COSTS
Hangar or tiedown
Insurance
Annual

HOURLY COSTS
Fuel
Oil
Maintenance (the big questionmark)
Engine and airframe and other reserves

If you look at what planes rent for, you will find a ballpark figure.
It's actually hard to beat rental costs unless you fly quite a few
hours per year. What you end up with are the fixed costs plus an hourly
cost, so you see, the more hours you put on it, the less it costs, per
hour. I have left out aquisition costs, depreciation, taxes and
interest rates. And those are signifigant also.

[Ben Jackson]

On 2006-11-05, KevinBlack > wrote:
> I've had a quick look on the web, but couldn't find anything that
> suits.

Did you find my page?

http://www.ben.com/flying/costown.html

> Here in OZ (YSCB - the nation's capital)

My defaults are all in US$, so you'll probably have to fill in every
box with new values.

--
Ben Jackson AD7GD
>
http://www.ben.com/

[NW_Pilot]

"KevinBlack" > wrote in message
...
> Hi,
>
> Dreaming about owning a acft. Looking at 70s something Warrior II with 3
> to 4 others. I've had a quick look on the web, but couldn't find anything
> that suits. Does anyone have a comprehensive spreadsheet for calculating
> ownership costs, you know where you put in fuel, hangarage, engine
> reserve, maint reserve, upgrade reserve, insurance etc etc so I can get a
> feel for the rtue operating costs.
>
> Here in OZ (YSCB - the nation's capital) the cheapest (and only aircraft
> hired by other than Brindabella Airlines - expensive and opressive
> currency requirements, but they are the only game in town) is a C172N
> hired by Canberra Aeroclub at $167/hr wet. All the other flight
> schools/hiring establishments have closed down, so much for the future of
> GA. This acft is being sold so that the club can leaseback one or two LSA
> type aircraft at a cheaper rate (we'll see). The next available aircraft
> is at YGLB which is a round trip of almost 3 hours ($160 for a Warrior
> II). It makes an hour of circuits into an almost 5 hour excursion:(
>
> It is now looking like owning your own aircraft might actually be a better
> option than hiring. Any help appreciated.
>
> Cheers,
> Kevin
>


I get a lot of phone calls from your area of Australia mostly people are
looking to purchase larger aircraft such as 182 & 210 on the piper side
Cherokee Six etc.

[KevinBlack]

Ben,

No didn't find it during the google, but have had a look now, very useful...

Thanks very much,

Kevin

"Ben Jackson" > wrote in message
...
> On 2006-11-05, KevinBlack > wrote:
>> I've had a quick look on the web, but couldn't find anything that
>> suits.
>
> Did you find my page?
>
> http://www.ben.com/flying/costown.html
>
>> Here in OZ (YSCB - the nation's capital)
>
> My defaults are all in US$, so you'll probably have to fill in every
> box with new values.
>
> --
> Ben Jackson AD7GD
> >
> http://www.ben.com/

[KevinBlack]

Thanks to all who have responded, I'll use the info to come up with
something that tells me how much this adventure islikely to cost. Whilst I
understand the real joy of owning an aircraft is being able to jump in and
fly whenever you want, it really is a financial issue here with only one
flight school/hiring agency other than the club (with a single C172N) within
a 90 minute drive.

Thanks,
Kevin

"KevinBlack" > wrote in message
...
> Hi,
>
> Dreaming about owning a acft. Looking at 70s something Warrior II with 3
> to 4 others. I've had a quick look on the web, but couldn't find anything
> that suits. Does anyone have a comprehensive spreadsheet for calculating
> ownership costs, you know where you put in fuel, hangarage, engine
> reserve, maint reserve, upgrade reserve, insurance etc etc so I can get a
> feel for the rtue operating costs.
>
> Here in OZ (YSCB - the nation's capital) the cheapest (and only aircraft
> hired by other than Brindabella Airlines - expensive and opressive
> currency requirements, but they are the only game in town) is a C172N
> hired by Canberra Aeroclub at $167/hr wet. All the other flight
> schools/hiring establishments have closed down, so much for the future of
> GA. This acft is being sold so that the club can leaseback one or two LSA
> type aircraft at a cheaper rate (we'll see). The next available aircraft
> is at YGLB which is a round trip of almost 3 hours ($160 for a Warrior
> II). It makes an hour of circuits into an almost 5 hour excursion:(
>
> It is now looking like owning your own aircraft might actually be a better
> option than hiring. Any help appreciated.
>
> Cheers,
> Kevin
>

[[email protected]]

Be aware that ownership will likely cost you significantly more than
you project before buying.

Regards,
Jerry

[Paul kgyy]

Don't forget your interest costs, assuming you will borrow the money.
Even if you pay cash, you lose the investment income.

Many buyers end up spending extra amounts on the first inspection
because of items that have been neglected. Allow 10% of the purchase
price for this.

I can't over-emphasize the value of a very thorough inspection by
someone familiar with the breed and no financial interest in the
outcome.

Insurance is significant: you'll need to get a quote on that.

There is seldom an economic reason to own an airplane, but there is
something wonderful about owning one and flying it for the cost of the
fuel.

[KevinBlack]

"Paul kgyy" > wrote in message
oups.com...
>
> Don't forget your interest costs, assuming you will borrow the money.
> Even if you pay cash, you lose the investment income.

Yes, the cost of money isn't cheap:)

> Many buyers end up spending extra amounts on the first inspection
> because of items that have been neglected. Allow 10% of the purchase
> price for this.

Understand, we will have a reasonable 'kitty' if it goes ahead, but we'd
rather aoid downstream expense by upstream dilligence..... Ahhhh in a
perfect world.

> I can't over-emphasize the value of a very thorough inspection by
> someone familiar with the breed and no financial interest in the
> outcome.

Agreed, and something that hasn't escaped our attention.

> Insurance is significant: you'll need to get a quote on that.

Again, yes.

> There is seldom an economic reason to own an airplane, but there is
> something wonderful about owning one and flying it for the cost of the
> fuel.

This just might be economically better given the state of GA here.....

Thanks,
Kevin

[Private]

> wrote in message
oups.com...
> Be aware that ownership will likely cost you significantly more than
> you project before buying.
>
> Regards,
> Jerry

Consider the purchase price to be a down payment on the maintenance and
upkeep costs.

The maintenance and expenses you expect will take 80% of your budget, the
unexpected items will take the other 80%.

The things you will be repairing are what the previous owner called
'deferred
maintenance'.

The difference between a new aircraft and a used one is the sum total of the
'maintenance compromise' or the sum of the 'that's good enough' or 'we'll
check it again at the next annual'.

Good luck