Rent vs. Own

Time was...when you owned any of the three you at least know where they have been, but teh times they are a changin'
"John Kunkel" wrote in message ...

"Frank" wrote in message . ..
If it flies, floats, or ****s; it's always cheaper to rent than to buy

"Frank" wrote in message . ..
Since this is an aircraft owners newsgroup, that means it's the perfect place to ask about the costs associated with owning an airplane vs. renting.

Since I haven't started my private pilot lessons, I'm not familiar with all of the expenses associated with owning an aircraft. I have listed below a brief list of likely expenses (I think) and I asking for feedback on it.

I do understand that costs for each item can vary greatly from place to place and according to many factors, but I think this is a good start. I am imagining the purchase of a Cessna 172 with a couple of private pilot buddies and I came up with this:

1) Storage (what is the price difference between hangar and tie down?)
2) Insurance for plane
3) Normal service for plane (how often does the plane have to be serviced...and approximately how much?)
4) Repairs (I understand this is unpredictable...is their an annual "average" cost for problems?)

Can you give me a basic idea?

Fixed Costs:
1.. Loan (Principle and Interest) 755.00 That's 65,000.00 for 10 years at 7% YMMV
2.. Storage (75.00 per month for a Tie-Down and 300 to 700 for a hangar)
3.. Insurance (about 1200.00 per year or 100 per month)
4.. Annual (900.00 per year or 75 per month, annual ONLY)
Right there it will cost you $1,005.00 without EVER leaving the ground!

Variable Costs:

1.. Fuel @ 4.65 a gallon and burning 8.5 GPH is 39.53 per hour.
2.. Oil at 5.50 per quart and buring 1 qt every 7 hours is 0.79 per hour.
3.. Engine Amortization (this depends on the engine OH cost and the amount of time on the engine at purchase) Let's assume a mid-time engine. 20,000 cost for OH, 1000 hours TT on engine and 2000 hour TBO. Therefo 20.00 per hour.
4.. Oil Change every 50 hours. Cost 100 bucks. So 2.00 per hour.
5.. Unforseen Maintenance. This is a LUCK thing and how much you are willing to look the other way and put up with small to medium unpressing issues versus MUST do issues. I put 30.00 per hour away and I'm in the red by 3,000.00 and I've jacked my wallet at least 10,000.00 in six years for extra funding...and I'm STILL 3000 under-water!! I'd put about 40.00 per hour aside if you want it safe and right.
So about 102.32 per hour...

So...you pay 1,005.00 per month membership fees to your own flying club and that buys you the price of 102.32 per hour to fly the plane.

The fixed cost will drop for each partner, but the variable costs will always be about the same. The maintenance might drop in price per hour if the plane flys a lot because there will be more flying between problems, however, probably there will be more problems the more it flys.

Good luck, Kobra

Oh...I almost forgot....

Pitot static check every 2 years at 250.00 per.

Transponder check every 2 years at 250.00 per

New ELT every two years at 100.00

Amortization for new paint (let's assume new paint costs 9,000 and has to be
done every 15 years, let's assume the paint is 7.5 years old) therefore
100.00 per month for new paint.

Same deal for a new interior...100.00 per month.

And as Sonny and Cher aways said, "...and the beat goes on."

Kobra

Kobra wrote:
Oh...I almost forgot....

Pitot static check every 2 years at 250.00 per.

Transponder check every 2 years at 250.00 per

New ELT every two years at 100.00

Amortization for new paint (let's assume new paint costs 9,000 and has to be
done every 15 years, let's assume the paint is 7.5 years old) therefore
100.00 per month for new paint.

Same deal for a new interior...100.00 per month.

And as Sonny and Cher aways said, "...and the beat goes on."

Kobra



My pitot static / transponder is done together for $250.00. ELT battery
used to be $30.00 and just got a new one that uses Duracell.

--

Regards, Ross
C-172F 180HP
KSWI

Kobra wrote:
Oh...I almost forgot....

Pitot static check every 2 years at 250.00 per.

Transponder check every 2 years at 250.00 per

New ELT every two years at 100.00

Amortization for new paint (let's assume new paint costs 9,000 and has to be
done every 15 years, let's assume the paint is 7.5 years old) therefore
100.00 per month for new paint.

Same deal for a new interior...100.00 per month.

And as Sonny and Cher aways said, "...and the beat goes on."

Kobra



My pitot/static and transponder checks get done together, and it has
always been less than $250 for both combined. ELT batteries for my ELT
(Narco ELT-10) run about $35. Those are all small expenses relatively
speaking. The big things are hangar rent, insurance, annual inpsection,
and repairs.

On Feb 18, 8:11*pm, "Kobra" wrote:
Oh...I almost forgot....

Pitot static check every 2 years at 250.00 per.

Transponder check every 2 years at 250.00 per


I also pay $250 but that's for a full pitot/static test. If you are
just VFR you can opt for only the transponder encoder test which
should be about 1/2 that price.

-Robert