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#11
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Cost of ownership????
On 2007-03-21, Lou wrote:
I'm looking for a spreadsheet that I can plug the numbers into. Has anyone either made this I even put it on the web: http://www.ben.com/flying/costown.html mmm, fuel is actually DOWN since I last updated it! -- Ben Jackson AD7GD http://www.ben.com/ |
#12
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Cost of ownership????
On Mar 21, 1:42 pm, Jon Kraus wrote:
Lou, It varies tremendously but the one constant is that airplane ownership is EXPENSIVE when compared against renting. That is unless you fly 200 hours a year (most pilots average 50-75 hours a year). I don't know about other folks but I have owned for only 3 years so I don't have much experience but here is what I found. For a 2 way partnership in a 100k Mooney it costs me about 1000 a month to fly 5 hours a month. This includes all my fixed costs of $575 (plane note, hanger rent, XM weather subscription and insurance). We charge ourselves $85 per tach hour wet. This includes engine reserve, fuel and some cash put back for annual inspection expenses. Our first 3 annual's averaged $5000. We have had several times in the last 3 years where we have had to shell out $1000 here and $1000 there for things that broke. We like to keep the plane squawk-free so this could have been cheaper. Here is the sad part. For me I have come to the realization that I don't want to shell out this much cash for flying anymore and am offering my partner the buy-out deal of a lifetime. I am going back to renting but will probably take a break from flying all together. Good luck with whatever you do but realize that it will cost you a LOT more money to own than to rent. That is just a plain and simple fact. Jon Kraus Lou wrote: I (like everyone else) am considering purchasing a plane. I've looked up the cost of ownership in this group and came up with some good information. However, I'm looking for a spreadsheet that I can plug the numbers into. Has anyone either made this or know where to download one? It's probebly not hard to do but I thought I would look here first. Anybody? Anybody? Anybody? Lou- Hide quoted text - - Show quoted text - Its true that owning almost always costs more than renting. However, the benefit of owning is having a plane set up the way you want it. There are a lot of reasons to own a plane but none of them are financial. -Robert |
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Cost of ownership????
On Wed, 21 Mar 2007 09:25:47 -0600, "Jim Burns"
wrote: AOPA has a couple worksheets on their ownership/partnership page. Just yesterday I figured our ownership & operating costs for the Aztec over the past 2.5 years. I didn't hit the floor too hard. Jim snip Usually when a prospective owner talks to me about how much it costs to own/fly, I tell them to go to the bank, get $500 ($1000 for a twin) in $20's and come back out to the hangar some day when the wind is calm. I tell them that if they cannot make a nice little bonfire on the ramp out of the cash, turn and walk away with a smile on their face and no regrets, in my opinion they are not truly ready for the costs of owning a tyoe-certificated airplane. The funny part is that most of them think I'm kidding... TC |
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Cost of ownership????
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#15
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Cost of ownership????
On Mar 21, 7:20 am, "Lou" wrote:
I (like everyone else) am considering purchasing a plane. I've looked up the cost of ownership in this group and came up with some good information. However, I'm looking for a spreadsheet that I can plug the numbers into. Has anyone either made this or know where to download one? It's probebly not hard to do but I thought I would look here first. Anybody? Anybody? Anybody? Lou With apologies to Jack Nicholson: "I can't handle the truth!" |
#16
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Cost of ownership????
There are very few absolute truisms in life. I believe I know two of them:
1. If it flies, floats, or fornicates it is far cheaper to rent. 2. If it has tires, tits, or testicles it will eventually give you trouble. Having said that, you don't need a $100K Super Bugsmasher as your first airplane. There are tens of thousands of elderly 150s, 172s, Cherokees, and the like that may not have the sex appeal of a 200 knot bent-gear aircraft, but they will not eat your pocketbook for lunch either. You don't need a hopped up 172 with a 200 horse twisty prop to get you to your Sunday fly-in. The elderly 150 may not get you there in fifteen minutes ... might take half an hour ... but 90% of the fun of a fly-in is getting there. Same with most of life. Depending on whether you are a low wing wimp or a high wing manly guy, you can start off with a Tripacer (Piper's Milkstool) and work your way up through the ranks over the years to what you can afford. You may have the milkstool your whole career. That's the way it goes. Same with a 150 (or a 120/140 if you are a tailwheel kinda guy) and work your way up through the 170/172 series. Yeah, after 40 years of the 120-170-172 gig I've got a 182. It keeps me on the edge of poverty, but it is what I can afford. Do I drool at 210s? Sure. But I didn't jump into a Citation while the ink was still wet on my private. Jim "Jon Kraus" wrote in message ... Lou, It varies tremendously but the one constant is that airplane ownership is EXPENSIVE when compared against renting. That is unless you fly 200 hours a year (most pilots average 50-75 hours a year). |
#17
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Cost of ownership????
On Mar 22, 9:26 am, "RST Engineering" wrote:
they will not eat your pocketbook for lunch either. You don't need a hopped up 172 with a 200 horse twisty prop to get you to your Sunday fly-in. The elderly 150 may not get you there in fifteen minutes ... might take half an hour ... but 90% of the fun of a fly-in is getting there. And you get to log more time. -Robert |
#18
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Cost of ownership????
Thanks for the advice guys, I'm looking at a Grumman yankee. It's
affordable, quick enough for a first plane, and the reason for the partner is purely cost. I know I don't fly everyday, and there is plenty of time to share an airplane. Lou |
#19
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Cost of ownership????
On Mar 22, 10:14 am, "Lou" wrote:
Thanks for the advice guys, I'm looking at a Grumman yankee. It's affordable, quick enough for a first plane, and the reason for the partner is purely cost. I know I don't fly everyday, and there is plenty of time to share an airplane. Lou A partnership is a great way to own a plane. The hard part is getting a partner with similar opinions on things such as upgrades, maintenance, etc. Many times I've agreed to pay for 1/2 of something I really didn't care to get but do it for the good of the partnership. For me, the biggest reason to be in a partnership isn't cost but rather usage. Flying a plane 50 hours a year is really hard on the plane, hard on the engine, etc. Planes need to be flying and having a partner can keep the plane in the air. -Robret |
#20
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Cost of ownership????
"Tim" wrote in message...
"If you have to ask..." It costs a lot. The airshares program seems to be reasonably set up. At first glance it seems expensive though. They did the work for you/everyone. Check out their pricing. If you can't afford at least a third to half of that program, you probably have to walk away or find more co-owners. http://www.airshareselite.com/airpor...escription.pdf It is a commitment to own a plane. Wow! If I did my homework correctly, it would cost over 70k for the first year to fly for only 100 hours. Comparing that to my average rental cost of a new C182 with G1000 I would be able to fly over 600 hours in that same year. I guess I'll wait till I win the lottery. David |
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