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


Jon is correct and this goes for motor homes, boats, and any big ticket
item. It is better to rent than own. However, on that day after two
weeks of lousy weather, YOU can go to the hangar and pull out YOUR
airplane and not be told by the FBO that all the planes are out til
9:00PM tonight.

I have had my Skyhawk for 10 years and I paid cash and it is a cheaper
plane than a Mooney, but this is all relative to you disposable cash. I
do owner assisted annuals and that saves. I did have to change out the
O-360 4 years ago and had to get a loan for that (no reserve planning).

My kids are out of college and on their own and I have no college
expenses from that. House is almost paid for and we both work. However,
I am getting close to retirement and my thinking may change. I may try
to get a partner or just sell. What I need is a workaholic partner that
pays the money but does not have time to fly.

--

Regards, Ross
C-172F 180HP
KSWI