Buy or Rent
07-07-2007, 12:30 PM
#1
Gets Weekends Off
Thread Starter
Joined APC: Aug 2006
Posts: 137
Buy or Rent
Has anybody here bought a plane to do their single engine stuff instead of renting? I did it back in the seventies and it worked out nicely. Long time ago,but i think it would still work today. Bought an old twin last year and getting my multi time in it. Just wondering, FLY SAFE T.C.
07-07-2007, 01:49 PM
#3
Moderator
Joined APC: May 2006
Position: ATP, CFI etc.
Posts: 6,056
t-cart do you mean a fraction airplane or the whole potato. Having the plane to yourself would require considerable use per month to get your moneys worth. AOPA has cost estimators to help work out the numbers. I would venture that if you could go in on a fractional airplane in good condition with a pretty good set of co-owners it would be worth doing. I am tempted sometimes to gather the local CFIs to go in on a Cherokee so we can run a little ad-hoc flight school, but I still rent because it's so cheap. I pay $70 an hour for a 152 which makes ownership undesirable for me as a pilot, but when I get my CFI I will need to have an airplane to teach in.
07-08-2007, 07:40 PM
#4
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,297
The break-even point between owning and renting an ASEL is about 100 hours/year...less is cheaper to rent, more is cheaper to own.
But I suspect the one-time costs (tax, inspections, broker fee, etc) would make owning a less than economical way to get your ratings...that's less than 250 hours. Plus you would still need to rent a complex airplane for COMM and CFI, and a twin for ME and MEI.
But I suspect the one-time costs (tax, inspections, broker fee, etc) would make owning a less than economical way to get your ratings...that's less than 250 hours. Plus you would still need to rent a complex airplane for COMM and CFI, and a twin for ME and MEI.
07-10-2007, 01:38 PM
#5
Gets Weekends Off
Joined APC: Jun 2007
Posts: 153
I bought a C172K back in 89' for $22,500. It had a factory rebuilt engine with 35hrs., new interior, decent paint, fresh annual and was certified IFR. I used it to build time and to get my instrument rating. I sold it a year later for $23,500. I then bought a C152 for $17,500 and used it for training. Two other instructors used it for their students as well. I charged $18/hr. for my services and $45/hr. wet for the a/c. I paid $250/mo. to the bank, did owner assisted inspections, paid $2,300/yr. for commercial insurance and paid $80/mo. for a tie-down spot. After about 475 hrs. of dual given I leased it to a flight school for a year and averaged about $1,100/mo. in extra income. I finally sold it for $23,000. It was definately a risk, but I managed to get through it all without any costly unscheduled maintenence.
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