cost of ownership

On Fri, 21 May 2004 23:39:29 -0700, "The Weiss Family"
wrote:

I know this has been asked a million times, but I have to ask just one more
time.
I would love to know your real-world costs of ownership for your fixed gear
single.
A 172, cherk 180, etc.
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.
Thanks

If things work out, and you fly more than 100 hrs per year, owning can
be cheaper than renting. However, owning a plane is a huge financial
risk. The worst case example: An engine can start making metal at
any time, which (even in a 172 or Cherokee 180) is a 15-20k overhaul.
But, there are tons of smaller problems which can still put a major
dent ($100s if not $1000s) in a pocketbook.

Flying is a passion for most of us, so it is easy to have clouded
judgment surrounding the purchase of an airplane. Just be certain you
can afford it before you jump into ownership, because there is a real
possibility to end up with a plane that cannot be used, and stacks of
bill that need to be paid.

A flying club, or a partnership is a great way to get involved in the
ownership of a plane without taking the major financial risk. Yes,
you will still have to reserve the plane, and fight (a bit) over
scheduling, but it is better than renting, gives the pride of
ownership, and allows you better familiarization (and hence safety) by
regularly flying the same plane.

For your cost questions, here's some input: This is based on a
Cherokee 180.

Hangar (chicago suburbs): $300/month = $3600 / year
Insurance $900/year
Fuel: 200hrs/year @ 10gph @ $2.95/gal = $5900/year
Oil: 5 cases @ $50/case = $250/year.
Total: $10650 / year

So those are the known costs. The big question mark is maintenance
and annual inspection. I probably average a bit over $2k/year for
this, but have been as low as $1k and as high as $5k.

-Nathan