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#1
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Cost of ownership????
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 |
#2
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Cost of ownership????
Anybody? Anybody? Anybody?
I know there are guys here who have just the spreadsheet you're looking for, but I've found that I'm much happier when I don't analyze it too closely. You can really keep your costs down by doing most of your regular maintenance yourself. Oil changes, etc, can all be done by the owner, and that really adds up over time. When you want to know how much money it costs to feed an airplane, just figure "all of it", and you'll be close to right... :-) -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#3
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Cost of ownership????
Lou -- there are fixed costs (hangar, insurance, mortgage if needed)
and variable costs. The fixed costs are easy. The variable are not. Variable: fuel & oil repairs, maintenance,improvements ADs Unexpected and surprising costs! And, as Jay points out, you can do a fair amount of work (Preventive Maintenance, as per the FAA) yourself. But then you need to make sure you have tools and equipment to do this. More costs. On the other hand, if you really total up and make realistic estimates of a budget, you'll probably decide not to buy an airplane. *sigh* |
#4
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Cost of ownership????
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 "Lou" wrote in message oups.com... 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 |
#5
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Cost of ownership????
I have one. I'll send it to your hotmail address.
Marco "Lou" wrote in message oups.com... 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 |
#6
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Cost of ownership????
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 "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. I would not trade it for the world. Good to see you are doing your homework. |
#7
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Cost of ownership????
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 Ownership is cheap, maintaining one is expensive. I used to keep a spread sheet of my budget and expensive. I quit after a couple of years. If my balance got too low I knew I was getting in trouble. I didn't need to know the details. -- Regards, Ross C-172F 180HP KSWI |
#8
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Cost of ownership????
Thank you, that is exactly what I was looking for.
Lou |
#9
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Cost of ownership????
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 |
#10
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Cost of ownership????
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 |
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