Brett123

So I’m currently on my training toward the ultimate goal of becoming an airline pilot. I’m about half way through my private license. I’m looking into the benefits of possibly buying a plane for hour building through the commercial rating and beyond. Got advice that it will cut down on schooling cost in the long run. I’m curious if you guys have gone this route or have any insight on it? Thanks

TiredSoul

At the risk of sounding like a broken record....don’t buy a plane.
You have about 200 hrs to go so at an average of $175/hr you’re at $35,000 on airplane rental.
Pretty much the only thing you can get for that is either a C150/152 or just plain old junk with rubbish for avionics.
You need to look at quality of instruction and quality of the equipment you’re flying.
If you want to make a career out of this don’t limit yourself flying the same airplane for the rest of your training.
A new C172SP/G1000 is close to $300k and you can rent it for $175-ish.
With a good instructor you can go way deeper in the material.

In any case if we start with a $35,000 budget:

Prebuy inspection
Annual
100 hr inspections (req for flight instruction)
50 hr oil changes
A single 172/Pa28 tire is $100 plus $100 labor to install.
Insurance
Parking or tie down rates.
A&P shop rates are $70-$90/hr.
Everything aviation related is “boat” which stands for Bring Out Another Thousand.
In short for a $35k airplane you need a $50k budget.

With the appropriate renters insurance you just walk away in case of a scrape.
As an owner you’re stuck with the damages.
If your airplane is down your training stagnates, as a renter you just take the next one on the flight line.

You’re going to get replies from people that will tell you absolutely do it, greatest thing ever and they have a $20/hr A&P and they do their own oil changes and you don’t have depreciation on a turd anyway and all sort of other arguments.
As Chief flight instructor I’ve seen my share of airplane drama.
It’s hard enough to make money in flight training and airplane ownership to save on it is just a pipe dream.

sourdough44

Agree, would give it a lot of thought before buying. There can be instances, like shared use & ownership where it makes more sense. Some areas have fewer rental or club options nearby.

You should focus on getting your CFI rating eventually. Yes there are a few other ways to build hours, though quality of those hours can be less.

rickair7777

In theory, you can save money on 200 hours by buying a plane. But there's a lot of risk, if the pre-purchase misses something, or if you have a big Mx issue pop up during your ownership, your scheme to save a few grand might cost you $30K...

I knew some guys who did this with twins (when you needed 300-500 ME hours to get a real job), they didn't sleep well at night and unloaded the planes the day after they got the hours they needed.

Excargodog

If you want to buy an aircraft for unfettered do your own thing flying, then go for it. I’d recommend an RV because you can have pretty decent (if non STC) avionics and can save money by doing a lot of the little work required on it yourself. But don’t kid yourself it’s anything but recreational.

But the mission statement you gave was to become an airline pilot. That’s a different goal. To accomplish THAT goal, and ESPECIALLY to have any meaningful chance of getting from where you are to where you want to be before the peak of the retirement wave passes, you are going to need to WORK in aviation. That means could instruction in a capable aircraft. Yes, you CAN fly instruments legally in a 1964 Cessna 150 with one working VOR. Been there, done that, got the t-shirt. But it isn’t preparation for an airline career, it’s a method of legally getting your toy out of a localized area of weather to get it back home and while likely safer than scud-running isn’t something you want to make a habit of doing.

For career prep you want to maximize your chances of success, with good instruction on modern equipment, and as soon as possible start the BUSINESS of flying, so you are doing it on someone else’s dime. And even then, give serious consideration into jumping into the business full time, which depending on the weather where you live might even mean moving or going from being a CFI to some other job where you can more reliably build hours. Some 135 outfits have FO positions where you can get hired at relatively low times

pay may not be great (Ok, it sucks), but you’ll get a fairly reliable 700 hours a year and can be regional eligible in 18 months. And what do you think is going to be more attractive to a regional or a major, second in command time on a 120 flying in a 135 operation or PIC in a your own 172?

But the point is, if your goal is to be an airline pilot you ought to be getting the best instruction in the most capable aircraft you can manage to get. That’s rarely going to be in your own aircraft, unless you are seriously rich.

Cujo665

As somebody who has owned four different personal planes, operated a flight school of owned, leased, managed aircraft, comes from a family of three generations of aircraft owners I can tell you without a doubt that the majority of the above advice is outright wrong and full of conjecture.

you absolutely will save money flying your own plane for your ratings then selling it. Ideally, you buy an inexpensive C150/152 or PA28-140 with decent IFR radios and a fresh engine and new annual as part of your purchase.. Get a good prebuy inspection. It can be financed over 15-20 years meaning it’s basically a car payment. Insurance is around $800 a year. Tie down varies by region from $20-$100 a month.
then you fly the snot out of it.
Do all your ratings except the few hours you need to rent something else with folding legs and stuff like that.
sell the plane once done.
you will likely recover all your aircraft investment and may actually sell for more than you bought it sine they are appreciating greatly currently.
so, in the end you fly for insurance, tie-down, a few oil changes, gas and instruction, and a car payment until you sell it.
throw a little aside for an unscheduled repair, like a new starter if your going to be flying the snot out of it.
still way way cheaper than renting. If you’re going to do more than 50 hours a year, Join a club, don’t rent. If you’re going to fly over 100 a year, buy don’t rent.

Once you’ve obtained your CFI/CFII, sell the plane and start working.

4020Driver

OP,

I would second Tiresoul’s response. I actually have done exactly what you’re proposing over the last 10 years. That being said, I had a pretty high paying job and live in a low cost of living area, and I also have my A and P and an avionics background. I bought an airplane with a solid airframe and fixed it up over the years, I’d probably break even on it if I sell.

Aircraft ownership is a hobby and job in and of its self. I enjoy owning my aircraft and will probably always own one,but, if the only reason you’re buying is the make your ratings cheaper, I’d rent, and focus on training. I’d be worried that the ownership of the airplane might be a distraction that’d take away from your ultimate goal. Airplanes break even if you own one, so, there might be more downtime and obviously more financial risk. Also, current aircraft values are abnormally high, so there’s also risk to holding an asset like that over a period of time and also don’t forget about interest on the loan for said aircraft. If you have a solid maintenance background, Like having an A and P and currently have a good job then buying an aircraft might make sense, depending on where you live, but if you don’t, I’d rent and focus on your training.

Cujo665

you need to do the math on him renting for 200+ hours in one year vs buying, flying his 200+ hours then selling it.
Its not even close. He will save tens of thousands owning then selling.
A cheap rental at $120 puts him at $2400 a month to fly 20 hours
A payment, insurance, tie down will run about $400 a month. Hourly costs are the gas. Figure 40 an hour, that’s $800 a month. He will fly his own plane, on his schedule, long cross country vacations anytime he wants all for 1/2 the rental costs. Nobody else beating on the plane. Oil change he can do himself every other month for the cost of the oil & filter.... or just pay the $100. Do his hood time with a buddy needing hours and he’s flying for 1/4 the rental rate.

decent IFR C150 or PA28-140 with a low time engine and annual it during the prebuy. He will be selling it before he does a second annual.
So he’s flying for 1/2 the rental rate. Bank the rest for multi rental and complex rental. Sell the plane once he has his CFI/CFII.

dera

+99 to this.
I bought a plane (C150 /G) to do my hour building. All in, a single flight hour ended up costing me $54, and this includes every single penny I ever put in that thing, including FBO fees (KEYW still makes me sick), landing fees and so on. I flew 400 hours in 6 months.
People saying you should rent for 200 hours are insane, and likely have never actually owned anything. Even the worst case scenario (blow your engine) you will end up being ahead over 200 hours, unless you buy a rust bucket, you won't recoup anything you put in the airframe.
You do need to do your homework obviously. Owner's clubs are worth their weight in gold, and you need a good local A&P. But owning a plane is the way to go.

TiredSoul