buy or rent a 2006 182

"john smith" wrote:

Dan Luke wrote:
Renter's ins., $1M smooth $3,185 (?)

I only pay about $750/year with AVEMCO for $1M renters insurance.

What hull value does that cover?

--
Dan
? at BFM

In article ,
"Dan Luke" wrote:

"john smith" wrote:

Dan Luke wrote:
Renter's ins., $1M smooth $3,185 (?)

I only pay about $750/year with AVEMCO for $1M renters insurance.

What hull value does that cover?

$30k

"john smith" wrote:


Dan Luke wrote:
Renter's ins., $1M smooth $3,185 (?)

I only pay about $750/year with AVEMCO for $1M renters insurance.

What hull value does that cover?

$30k

That wouldn't help much if I crumped a $300K bird.

I'll call my agent Tuesday and see what it would cost to cover that much.

--
Dan
? at BFM

"Dan Luke" wrote in message ...

"john smith" wrote:


Dan Luke wrote:
Renter's ins., $1M smooth $3,185 (?)

I only pay about $750/year with AVEMCO for $1M renters insurance.

What hull value does that cover?

$30k

That wouldn't help much if I crumped a $300K bird.

I'll call my agent Tuesday and see what it would cost to cover that much.

--
Dan
? at BFM


Doesn't the flight school have any insurance?

On May 25, 11:08 am, "Dan Luke" wrote:
Since it looks very much like I will be sans airplane in a week or so, I've
been kicking around options for future flying.

My general bad feeling about owning an airplane in Mobile notwithstanding,
there's still a chance I could buy another airplane if renting a 2006 Cessna
182T from the local flight school doesn't work out. So I ran a few numbers
to see how buying and renting the same model airplane would compare, based on
costs here in Mobile:

o Rent

100 hrs/yr @ $190/hr. $19,000
Renter's ins., $1M smooth $3,185 (?)

Total $22,185

o Buy slightly used '06 182T, fly 100 hrs/yr

Engine overhaul setaside @ $12.50/hr $1,300
Fuel, 13gph @ $4.85/gal $6,305
Shelter @ $180/mo. $2,160
Insurance, $1M smooth $3,185
Annual (during warranty) $750
Oil & Filters $100
Cost of money @ 6% on $310K + tax $20,460

Total $34,260

--
Dan
? at BFM


Unless you find a way to use it as a tax write-off, generally at 100hr
flight time per year its less expensive to rent than to own. Renters
insurance shouldn't cost you more than $2000.

On 25 May 2007 12:52:27 -0700, Deadstick wrote:


Unless you find a way to use it as a tax write-off, generally at 100hr
flight time per year its less expensive to rent than to own.

Unless you can find the right partnership.

"Dan Luke" wrote in message
...


o Rent

Renter's ins., $1M smooth $3,185 (?)

Total $22,185

Yes but what amount of hull is covered at that cost? Last I checked, you
can't even buy enough renter's hull insurance to cover half of the value of that
plane. I don't understand why people rent expensive planes when they can't
insure themselves.

One thing to consider is that with an aircraft you own, you'll have equity.
Depending on the term of your loan and the speed at which the aircraft
depreciates, that equity could be positive or negative (aarg)..

Beyond the equity issue, there is something to be said for being able to
schedule the aircraft at your convenience and for the ability to maintain
and upgrade the aircraft to your standards.

KB


"Dan Luke" wrote in message
...
Since it looks very much like I will be sans airplane in a week or so,
I've been kicking around options for future flying.

My general bad feeling about owning an airplane in Mobile notwithstanding,
there's still a chance I could buy another airplane if renting a 2006
Cessna 182T from the local flight school doesn't work out. So I ran a few
numbers to see how buying and renting the same model airplane would
compare, based on costs here in Mobile:


o Rent

100 hrs/yr @ $190/hr. $19,000
Renter's ins., $1M smooth $3,185 (?)

Total $22,185





o Buy slightly used '06 182T, fly 100 hrs/yr

Engine overhaul setaside @ $12.50/hr $1,300
Fuel, 13gph @ $4.85/gal $6,305
Shelter @ $180/mo. $2,160
Insurance, $1M smooth $3,185
Annual (during warranty) $750
Oil & Filters $100
Cost of money @ 6% on $310K + tax $20,460

Total $34,260




--
Dan
? at BFM

"Kyle Boatright" wrote:


Beyond the equity issue, there is something to be said for being able to
schedule the aircraft at your convenience and for the ability to maintain
and upgrade the aircraft to your standards.


Roger that.


I've owned '87D for seven years. I don't know if I'll be able to stand going
back to renting. We'll see.

--
Dan
? at BFM

On Fri, 25 May 2007 19:14:32 -0400, Kyle Boatright wrote:

Beyond the equity issue, there is something to be said for being able to
schedule the aircraft at your convenience and for the ability to maintain
and upgrade the aircraft to your standards.

This is why I like the "compromise" of a club where all members are
owners. It has the best of rental and ownership characteristics; in fact
it looks like a large partnership over multiple aircraft (or perhaps
multiple single-airplane partnerships).

The members/owners control issues like MX, upgrades, paint schemes, etc.
Scheduling is, in theory, more complex than with a single-owner aircraft.
But as the number of aircraft in the fleet goes up, this becomes less of
an issue.

And with multiple aircraft, the impact of any given aircraft being down
for MX drops.

It's not the perfect replacement for single-ownership. You have to adjust
the seats, and there are limits on scheduling (ie. you cannot keep an
aircraft at your vacation home for "the season"). But it's also cost
effective at under 300 hours/year (or whatever number is considered the
proper break-even point nowadays {8^).

The final benefit is that you're never making choices in a vacuum; there
are always older and more seasoned members of whom to seek advice. It's a
terrific way to learn about the care and feeding of aircraft from people
that are just as invested as yourself.


- Andrew
http://flyingclub.org/