buy plane or get instrument rating?

Matt wrote:

Or, should I just buy the plane and fly it to get the instrument rating? I
am considering a 172.

Buy the plane and get the rating in it.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to have
been looking for it.

In article , Matt wrote:
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking

Like others have said, buy the plane now.

Ignore the intangible benefits of owning for a second. Figure the
economics of ownership vs. renting. Typically, at 100 hours per year
or less, it pays to rent; at 200/yr, it pays to own.

The reason is the high fixed cost of ownership. Before your first
flight hour, you have to pay for insurance, parking spot, and annual
inspection. Each additional hour, you're paying the marginal cost:
fuel, oil (and if you anywhere, landing fee).

As you persue your instrument rating, you're going to be doing a lot
of flying in a relatively short period of time. That's where owning
makes financial sense.

Then there are the intangible benefits: schedule it any time you want,
know who's flown it last, no daily minima.

If you want practical benefit from the plane, like actually being
able to go places, eventually, you're going to have to own your own
(or form a partnership). With a better FBO, you can push it off
longer.

Good luck,


Morris

"Matt" wrote in message
om...
Hi everyone. I have about 100 hours in 150's and 172's. I am thinking
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking
this might help me build some more time, and the instrument rating would
be
looked upon favorably by insurance companies when the time comes to buy.
Or, should I just buy the plane and fly it to get the instrument rating?
I
am considering a 172.

Thanks for all advice!

Matt



Like everyone else has said, I bought now, and am going to get my instrument
rating in MY plane.

Adam
N7966L
Beech Super III

"Matt" wrote in message
om...
Hi everyone. I have about 100 hours in 150's and 172's. I am thinking
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking
this might help me build some more time, and the instrument rating would
be
looked upon favorably by insurance companies when the time comes to buy.
Or, should I just buy the plane and fly it to get the instrument rating?
I
am considering a 172.

Thanks for all advice!

Matt



Buy an IFR 150 Get your rating and sell if for more than you paid for it
"or" keep it for a low cost time builder.

I don't think one could have to many diffrent airplanes.

On Mon, 01 Nov 2004 01:32:55 GMT, "Matt" wrote:

Hi everyone. I have about 100 hours in 150's and 172's. I am thinking
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking
this might help me build some more time, and the instrument rating would be
looked upon favorably by insurance companies when the time comes to buy.
Or, should I just buy the plane and fly it to get the instrument rating? I
am considering a 172.

I flew my Cherokee 180 for about 1.5 years before getting the
instrument rating. I trained for the IFR in my plane and found it was
a huge advantage to be comfortable/familiar with the plane.

Make sure you know what kind of IFR equipment you will want before you
buy your plane. Avionics are expensive to purchase and install, and
only add about 50% to the resale value of the plane.

In other words, you are much better to find a plane equipped how you
want it for IFR flight, than to buy a plane with a junker panel, and
set about upgrading it yourself. Of course there are exceptions to
this, but in general it is a good rule.

One thing I really wish my plane had was an altitude hold autopilot.
It will be close to $10k to get one installed, which is why I haven't
done it yet.

-Nathan

Buy the plane first. First the instrument rating will save you 10%-20$
on your insurance. Second the rating will make you more intimate with
your new plane. Third, you will probably find out a lot of little
issues after you buy your plane. The training env is the perfect time
to find problems.

-Robert


"Matt" wrote in message . com...
Hi everyone. I have about 100 hours in 150's and 172's. I am thinking
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking
this might help me build some more time, and the instrument rating would be
looked upon favorably by insurance companies when the time comes to buy.
Or, should I just buy the plane and fly it to get the instrument rating? I
am considering a 172.

Thanks for all advice!

Matt

"Robert M. Gary" wrote in message
om...
Buy the plane first. First the instrument rating will save you 10%-20$
on your insurance. Second the rating will make you more intimate with
your new plane. Third, you will probably find out a lot of little
issues after you buy your plane. The training env is the perfect time
to find problems.

-Robert

Agree Agree, You also know how many times it has been bounced off the runway
since last time you have flown it. You know the condition of the avionics as
you are responsible for every thing and not a profiteering glutton that's
going to take the most inexpensive route out of it to boost up profits.

"NW_PILOT" wrote in message
news
and not a profiteering glutton that's
going to take the most inexpensive route out of it to boost up profits.

I beg your pardon. Who might that be...the profiteering glutton...?
Are you stereotyping all renters, leaseback owners, and/or FBOs with that
ridiculous, rude characterization?

"Matt" wrote in message . com...
Hi everyone. I have about 100 hours in 150's and 172's. I am thinking
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking
this might help me build some more time, and the instrument rating would be
looked upon favorably by insurance companies when the time comes to buy.
Or, should I just buy the plane and fly it to get the instrument rating? I
am considering a 172.

Thanks for all advice!

Matt

Might check with Cessna. I think they have a program where you buy a
new airplane and they will pay for your rating.

Just an option......

Hi Matt,

I was in your exact situation about two years ago. I bought the
plane, then
got my rating in it. In a lot of ways, these are two separate issues.
Pursuing a rating is a good way to improve your piloting abilities
and fly on a regular basis (never mind whether you'll actually use the
rating). Likewise, owning a plane has its own rewards. But...would I
do it again? Tough call, here's why...

If you're wealthy beyond your dreams, skip to the next paragraph. A
combination of cash on hand and likely insurance costs meant that when
I was in your shoes I couldn't afford much more than a trainer, a
PA28-140 in my case. However, now I'm starting to get step-up fever.
Unless you're content to cruise around at 110 KTAS at a few thousand
feet all day, you may find yourself in a similar position. IN
GENERAL, ownership is rarely break even and most owners prefer to
remain in blissful ignorance. In my case, with the hours I fly, I'd
have been better off renting and accumulating savings these last two
years as I'd have had enough cash on hand to buy something more
capable now. That is, I'd probably buy again, warts and all, but I'd
probably wait another year or two so I could get something that would
likely keep me satisfied long term.

If you DO buy, it's fairly important to get decent avionics if you're
going to pursue an IFR rating, otherwise you'll have to switch planes
for some of the training and the checkride. Check the IFR test
standards for what you'll need (generally,a way to shoot an ILS and
two non-precision approaches). Likewise, if you think you'll want to
add commercial privileges, a retract is nice to have but easier to
work around.

Unless you're wealthy, particular about radios or have long-term
plans, DON'T buy a plane with so-so avionics and add radios to get it
up to snuff. I did that, it hurt. Yes you'll recover some of that on
resale, but usually only $0.30 on the dollar on a good day.

While you're thinking about it, go ahead and start IFR training, it'll
be a few lessons before you really need particular radios, etc.

Best of luck...

mark

"Matt" wrote in message . com...
Hi everyone. I have about 100 hours in 150's and 172's. I am thinking
about getting an instrument rating and buying my own plane within the next
few years. Should I go for the instrument rating first? I was thinking
this might help me build some more time, and the instrument rating would be
looked upon favorably by insurance companies when the time comes to buy.
Or, should I just buy the plane and fly it to get the instrument rating? I
am considering a 172.

Thanks for all advice!

Matt