On Tue, 24 Oct 2006 03:31:42 +0200, Mxsmanic wrote:
If you own your own aircraft, could you discuss:
1. The make and model.
1982 Bowers Fly Baby.
2. Whether you bought it new or used (if used, a bit of history on
it).
Bought used. I was the fourth owner. The airframe had 100 hours total time
when I bought it. The engine was 25 hours since rebuild.
3. The cost to buy it.
$10,000.
4. The way you financed the purchase.
Sold my half-interest in another aircraft. Bought THAT by taking out a
signature loan at my credit union.
5. Your approximate yearly costs for operation, maintenance, and
insurance.
That would be telling. :-)
Operation: About $12/flight hour, depending on fuel prices.
Maintenance: $250 for the annual inspection. Other maintenance costs
vary...this year I bought a set of tires and tubes (~$300). Most years it's
less. I do my own work.
Insurance: $450/year (just renewed it)
The kicker in this is the hangar costs. I got along quite well for years
sharing a $200/month open hangar with another aircraft owner (e.g., I paid
$100/mo). I currently rent a very fancy hangar designed for a large
twin-engined airplane. I could share it...but I don't. I pay about $380/mo.
The money for the hangar comes from writing about airplanes.
6. Your approximate yearly investment in training, licensing, medical
exams, etc. (to keep current as a pilot, as opposed to just the costs
related to a specific aircraft).
Average ~$100/year (I take a biannual flight review every two years). No
medical costs (operating as a Sport Pilot). Licensing (state registration of
the airplane) runs $50/year.
I'm just curious about how much it actually costs to own and fly an
aircraft. I get the impression that it requires either being quite
wealthy or making severe sacrifices and never flying anything better
than a junky tin can.
Being wealthy never *hurts* (not that I'd know :-), but I know a lot of ordinary
Joes that own planes.
If folks forgive the self-plug, this book might help:
http://www.amazon.com/gp/product/007...635126?ie=UTF8
Ron Wanttaja