Buying a plane versus renting

Just wondering if anyone has some experience on the above subject. I'm
looking at building up some time (500 hours or more) within the next couple
of years. My two options are to buy an older 172/Arrow etc or just to keep
renting which is very expensive.

If I can find a decent airplane, in the end, I assume purchasing one to use
for a couple years will be cheaper. Am I wrong about this? Any pitfalls I
should be aware of?

A second question is regarding purchasing a newer 172. I know the initial
cost is more, but given the age is it probable to save money via maintenance
compared to an older airplane? What about resale on a newer 172 (year 2001)
versus resale on an older 172/Arrow?

Any input is really appreciated.

--
Thank You,
Ryan

Ryan,

Not that I know anything, but here's my opinion:

With the Feds allowing 50% bonus depreciation on new aircraft (for business
use), my assumption is that this will increase sales for new aircraft and
cause the late model used market to slump (e.g. 1997 - 2001 172s). Also, I
think the late model used market will further be depressed because of the
glass panel cockpits coming out.

I'm also trying to decide if I want to purchase new or pick up a one of
these late model aircraft. I'm seeing asking prices that are fairly
attractive. One would hope that you'd be catching this market at the
bottom of the trough, and that most of the value has already declined from
the person who initially bought the plane.

I'm sure you'll see the response that if you fly more than 100 hours a year,
then it's cheaper to buy. That depends on a lot of things, but as you say,
you're looking to fly 250+ hours per year over the next couple of years,
then you should absolutely be looking at buying.

You might want to describe to the group what type of flying you'll be doing
as well, and where.

r.



"RD" wrote in message
...
Just wondering if anyone has some experience on the above subject. I'm
looking at building up some time (500 hours or more) within the next
couple
of years. My two options are to buy an older 172/Arrow etc or just to keep
renting which is very expensive.

If I can find a decent airplane, in the end, I assume purchasing one to
use
for a couple years will be cheaper. Am I wrong about this? Any pitfalls I
should be aware of?

A second question is regarding purchasing a newer 172. I know the initial
cost is more, but given the age is it probable to save money via
maintenance
compared to an older airplane? What about resale on a newer 172 (year
2001)
versus resale on an older 172/Arrow?

Any input is really appreciated.

--
Thank You,
Ryan

As a note, I will be flying for pleasure. Mainly cross country trips.



"RD" wrote in message
...
Just wondering if anyone has some experience on the above subject. I'm
looking at building up some time (500 hours or more) within the next
couple
of years. My two options are to buy an older 172/Arrow etc or just to keep
renting which is very expensive.

If I can find a decent airplane, in the end, I assume purchasing one to
use
for a couple years will be cheaper. Am I wrong about this? Any pitfalls I
should be aware of?

A second question is regarding purchasing a newer 172. I know the initial
cost is more, but given the age is it probable to save money via
maintenance
compared to an older airplane? What about resale on a newer 172 (year
2001)
versus resale on an older 172/Arrow?

Any input is really appreciated.

--
Thank You,
Ryan

RD wrote:

As a note, I will be flying for pleasure. Mainly cross country trips.

I doubt that you will find anyone who will rent you a plane for several hundred
hours a year of pleasure trips. Most FBOs balk at renting for more than a few
hours and few keeping a plane overnight. You might be able to do it for trips
during the week, but most of them want the planes on weekends for students.

A club might be an option for you.

George Patterson
A diplomat is a person who can tell you to go to hell in such a way that
you look forward to the trip.

In article , "RD"
wrote:

Just wondering if anyone has some experience on the above subject. I'm
looking at building up some time (500 hours or more) within the next
couple
of years. My two options are to buy an older 172/Arrow etc or just to
keep
renting which is very expensive.

if you think renting is expensive, just wait until you buy
your first airplane...

:-)

--
Bob Noel

Buying vs. renting is not an apples-to-apples comparison, just as flying
vs. driving is not. There are many factors for each that don't apply to
the other.

Example: we bought a plane last year because there are no rentals
within a 1.5hr drive from my house, and also because we wanted to travel
more and were spending a lot to do it with rental planes. If all had
gone well, we would have indeed saved several thousand dollars by owning
instead of renting, given the same travel, and we certainly would have
saved all those 3-hour round trips to the FBO.

However, despite a prepurchase inspection, our nosegear collapsed 5 days
after we bought the plane. The plane was down for 8 months. Even after
the insurance paid for a new prop and the engine tear-down, overhauling
the rest of the engine and all of the landing gear hydraulics plus a few
other items ended up costing us another 1/3 of what we had paid for the
plane.

The point is that with owning, you assume a different level of risk than
you do by renting. With a rental, your risk is in trusting that the
owner of the plane maintains it well. If you own it, you assume that
risk, and it can get expensive very, very fast.

On the other hand, you also get a different set of benefits, which is
what most of us think of as the "joy of ownership". For most people the
joys far outweigh the risks. (I'm still on the fence about it, but
eventually I'll come around---at this point I can't afford to sell the
thing!)

hope this helps

lid wrote:

Buying vs. renting is not an apples-to-apples comparison, just as
flying vs. driving is not. There are many factors for each that don't
apply to the other.

you also get a different set of benefits, which is what most of us
think of as the "joy of ownership". For most people the joys far
outweigh the risks.


Right on point.

Attempting to justify ownership on dollar costs alone doesn't tell the tale.

Owning is expensive, no ands or buts about it. But there are
intangibles, like always knowing the airplane will be available, and
knowing you'll be able to fly the airplane you expect to fly, and
knowing what condition the last pilot (you) left the airplane
in....there's no way to put a price on that stuff.

Showing up at the airport to fly somebody else's rental piece of junk
would never get it for me, I've been there, done that, and I've been
willing to pay the piper (pun intended) for a long time now, for the
privilege of flying my OWN plane.

"CriticalMass" wrote in message
...
lid wrote:

Buying vs. renting is not an apples-to-apples comparison, just as
flying vs. driving is not. There are many factors for each that don't
apply to the other.

you also get a different set of benefits, which is what most of us
think of as the "joy of ownership". For most people the joys far
outweigh the risks.


Right on point.

Attempting to justify ownership on dollar costs alone doesn't tell the
tale.

Owning is expensive, no ands or buts about it. But there are
intangibles, like always knowing the airplane will be available, and
knowing you'll be able to fly the airplane you expect to fly, and
knowing what condition the last pilot (you) left the airplane
in....there's no way to put a price on that stuff.

Showing up at the airport to fly somebody else's rental piece of junk
would never get it for me, I've been there, done that, and I've been
willing to pay the piper (pun intended) for a long time now, for the
privilege of flying my OWN plane.


Except when the airplane is away on its annual or has a major problem,
knowing that if I want to fly I have to hire a piece of junk.

There is nothing more frustrating than having a plane and it not be
available to fly.

On Sun, 29 Feb 2004 08:52:18 -0000, "S Green"
wrote:

There is nothing more frustrating than having a plane and it not be
available to fly.

Amen.

S Green wrote:

Except when the airplane is away on its annual or has a major problem,
knowing that if I want to fly I have to hire a piece of junk.

There is nothing more frustrating than having a plane and it not be
available to fly.


Granted.

My last "annual" started last June (2003).

That "annual" turned into a MOH (Mattituck).

My airplane is STILL inop, due to enormous delays in just getting the
damned thing back from the "annual" shop, and due to added unanticipated
eventualities, like the factory fuel flow gauge going tits up on the
first flight post MOH, and the front crank seal leaking out of MOH, and
again, after one replacement.

I nevertheless stand by my other post. Am I lowering my standards by
going to the local flight school and renting their doggy 152s just to
get some airtime? Nope.

Whatever the frustrations (and owning is full of 'em), it's MY plane, or
NO plane, for ME, that is.