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Fixed Wing Add on / plane purchase

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Fixed Wing Add on / plane purchase

Old 05-16-2016, 10:59 PM
  #11  
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Joined APC: Jun 2015
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They are all money pits. If it floats, flies, or fornicates, it's cheaper to rent than buy. That said, I, and several other army friends, bought planes. I'll probably buy another one at some point, but I will need a significant boost in income before I touch a plane again. I sold mine for more than I bought it, but it was still expensive to own and operate. And I did most of my mx myself. If I were you, I'd rent, get the add on (use the GI bill and get a bunch of add ons), and get experience before I went in and bought a plane. Your mission will change, your desired aircraft will change, etc., as you learn more about it. I spent a couple years figuring out what kind of plane I wanted, a year or so looking for the right one once I figured that out, and owned it 3 years before selling it. In that time my mission changed several times.

If you are set on buying one, plan on $1500 or so for insurance. It depends on your times, ratings, type of aircraft, and hull value. Talk to an insurance company. Who knows on maintenance costs. With a $40k plane that is 40-50 years old, it's a wildcard. I have a friend who bought a 152 for $25k, looked to be in good shape, had a pre-buy done on it, and then had to replace the wing spars at its first annual, among other things. He spent about half the price of the plane making it airworthy on its first annual. Who knows how long your motor will last (especially training in it and with an unknown history from the previous owner on how they took care of it). Avionics, electrical systems, etc. will probably go bad at some point. You'll have to (most likely) pay to make any $40k plane ADSB 2020 compliant in the next few years as well. I'm guessing anyone selling a plane right now (for that cost) probably didn't shell out the money to do that prior to selling. Don't forget hangar space. I had a free hangar once, a $70/month hangar once, and a $350/month hangar once. Highly variable. Most army posts I was at seemed to never have hangar space available. You could keep it outside, but then your glass/interior/paint will get crushed by the sun/UV. And depending on where you live/register it/etc., sales and or property tax is another cost factor.

Lots of variables, no right answer. I'd rent tho. At least for a while. Unless you fly 200 hours a year (give or take) you will be paying more to own. Airplane ownership can be a very expensive, time consuming, and frustrating undertaking. Go hang out at your local FBO/hangars and just start chatting people up about their ownership experiences. You may even find a club/partnership you could buy into to defray some cost. Don't rush into it though.
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