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Rent vs. Own



 
 
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  #1  
Old February 12th 08, 04:05 AM posted to rec.aviation.owning
Frank[_11_]
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Posts: 2
Default Rent vs. Own

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?


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  #2  
Old February 12th 08, 04:16 AM posted to rec.aviation.owning
John[_13_]
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Posts: 31
Default Rent vs. Own

Frank;
Spend a few moments googling Cost of Airplane ownership and you get all the info you need. No use retyping the same things.
"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?


  #3  
Old February 12th 08, 05:15 AM posted to rec.aviation.owning
Robert M. Gary
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Posts: 2,767
Default Rent vs. Own

On Feb 11, 8:05*pm, "Frank" wrote:

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?)


Nope, no average. You really cannot predict what you will pay for
maintenance. However, the cost of ownership will typically be higher
for an owner who flys less than 200 hrs/yr. The FBO is averaging the
cost of the plane over more pilots.

-Robert

  #4  
Old February 12th 08, 11:27 AM posted to rec.aviation.owning
Kyle Boatright
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Posts: 578
Default Rent vs. Own

These costs vary tremendously by location. At an underused, rural field, hangar rental may be $50/mo. At an overcrowded urban field, the same hangar may be $600/mo. Same thing for maintenance costs. You would do well to go to your local field and ask these questions to pilots with aircraft similar to what you propose to purchase.
"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?


  #5  
Old February 12th 08, 12:59 PM posted to rec.aviation.owning
Ron Rosenfeld
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Posts: 264
Default Rent vs. Own

On Mon, 11 Feb 2008 23:05:20 -0500, "Frank" wrote:

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?


Costs vary all over the country.

At KASH, a tiedown might be $400-$600/year, depending on amenities
(dirt/paved/electricity at tiedown are the variables) vs. $450-$750/month
for hangar space.

At KEPM, a tiedown is free, and if you want a hangar you can build one g!

Maintenance costs vary all over the place, even with the same a/c. I just
had a "no complications" annual on my Mooney (more complicated than a C172)
which was $7,000 (with no deferred items). But one year I needed to have
an engine overhaul (crack in the case) and that added about $18,000 to the
bill.

Probably flying somewhere between 150-200 hrs/year will be the breakeven
point financially for ownership/renting. But there is something very
satisfying about knowing you are the only one flying the a/c; being able to
leave "stuff" in it; having everything in the airplane the same as when you
left it, etc.
--ron
  #6  
Old February 12th 08, 06:12 PM posted to rec.aviation.owning
Marco Leon[_5_]
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Posts: 61
Default Rent vs. Own

I have a Warrior which is similar in many respects to a Cessna 172. I live
in the NY Metro area so adjust your estimates for your local area
accordingly

1) Storage (what is the price difference between hangar and tie down?)

Tiedown for me is $105/month going to $140 soon. Hangars have a 9-year
waiting list at $550/month (no heat or electricity)

2) Insurance for plane

About $1300 smooth and $950 with limits

3) Normal service for plane (how often does the plane have to be
serviced...and approximately how much?)

Annual is about $1200 including minor fixes

4) Repairs (I understand this is unpredictable...is their an annual
"average" cost for problems?)

I wind up spending under $1000 a year sometimes more sometimes less.

I have a spreadsheet that can calculate the hourly costs with adjustments
for multiple partners. I can email it to you if you're interested. However,
be aware that the results may be eye-opening.

Marco



"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?


  #7  
Old February 12th 08, 07:48 PM posted to rec.aviation.owning
John Kunkel
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Posts: 42
Default Rent vs. Own


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


  #8  
Old February 12th 08, 08:01 PM posted to rec.aviation.owning
Marco Leon[_5_]
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Posts: 61
Default Rent vs. Own

"John Kunkel" wrote in message
...

If it flies, floats, or ****s; it's always cheaper to rent than to buy


Actually, with a total of two partners in my Warrior flying at 50 hour/year
each, it works out to be cheaper to own than to rent. And not by a small
amount either--about $30/hour cheaper.

Marco


  #9  
Old February 12th 08, 08:24 PM posted to rec.aviation.owning
Gig 601XL Builder[_2_]
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Posts: 428
Default Rent vs. Own

Marco Leon wrote:
"John Kunkel" wrote in message
...

If it flies, floats, or ****s; it's always cheaper to rent than to buy


Actually, with a total of two partners in my Warrior flying at 50 hour/year
each, it works out to be cheaper to own than to rent. And not by a small
amount either--about $30/hour cheaper.

Marco



The same would be true for boats and women as well.
  #10  
Old February 13th 08, 01:09 AM posted to rec.aviation.owning
Ross[_2_]
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Posts: 13
Default Rent vs. Own

Robert M. Gary wrote:
On Feb 11, 8:05 pm, "Frank" wrote:


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?)



Nope, no average. You really cannot predict what you will pay for
maintenance. However, the cost of ownership will typically be higher
for an owner who flys less than 200 hrs/yr. The FBO is averaging the
cost of the plane over more pilots.

-Robert


But the one thing you cannot put a price on it being able to walk out to
you airplane and fly it after a week of bad weather and there is no one
in line in front of you. The plane is exactly as you left it and not the
prior renter. The condition of the plane is known to you because you
assisted the A&P/IA in its annual and any repairs that come along. I fly
about 60 to 70 hours a year and I know I am paying more than renting.
But I would not trade this for anything.

Ross
C-172F 180 hp
KSWI
 




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