cost of ownership

"The Weiss Family" wrote in message
...

I'm trying to figure out how much renting I have to do before it becomes
plausible to own.
Any advice as to insurance, fixed and variable costs, etc.

If you do an honest assessment of the cost to own an airplane, virtually no
airplane owner can operate his airplane cheaper than he coudl rent the same
airplane. This is particularly true for a C172-class airplane which is
unlikely to be used on a very regular basis for practical transporation
except in some very specific regions of the country which almost always have
VFR weather, i.e. the Southwest.

Reasons to buy an airplane include not having to deal with restrictions on
keeping a rental airplane for a week or so trip, having access to an
airplane not available for rental, having control over maintenance, having
control over modifications/avionics, and simply pride of ownership. These
are all fine reasons to buy an airplane -- do not think that it will be
cheaper than owning, however.

If you do buy an airplane, consider that the cost of a surprise engine
overhaul can easily be 25% of the value of the airplane. Imagine one day
getting a call from your mechanic with the bad news that you need to do an
unexpected early engine overhaul. If you would not be able to handle that
financially, then either do not buy the airplane or else seek a partner to
buy the airplane with you.


--------------------
Richard Kaplan, CFII

www.flyimc.com