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Old 01-06-2020, 12:59 PM   #1  
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Default Question for the forum. Buy a plane?

So question for the group. I am doing my PPL currently flying a Piper Archer II. But I feel like I am paying so much for training. I'm not wealthy however I don't have much debt and was considering IF I get this promotion my salary doubles; should I buy my own plane (finance) and just pay for the instructors time since it's by the hour but if I buy a "block" of hours it'll be cheaper. I know I'll have to pay for fuel insurance and hangar monthly. I haven't looked into insurance but everything else based on what I have read I feel like I would be able to handle. Currently the school is asking $170 per hour WET plus $75 an hour for the instructor. Wheras I see financing a plane would be like a mortgage and seems feasible again only IF I get this promotion, if I don't then i'm still utilizing the school. Just a thought I had today.
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Old 01-06-2020, 04:02 PM   #2  
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I wouldn’t.
Not for training or time building.
Either you buy a turd with crummy avionics or you buy something with a significant amount of depreciation.
Flying your own airplane also means you always fly the same aircraft.
This is both an advantage and a disadvantage as you’ll need to still rent something else to meet your Commercial requirements.
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Old 01-06-2020, 06:50 PM   #3  
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I own a 182 and a plane can get real expensive fast. Even simple stuff will happen in series costing thousands. What happens if you have a 5K annual, find metal in an oil filter, audio panel goes out, etc..
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Old 01-16-2020, 11:09 AM   #4  
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A plane like the Archer will cost in the ballpark of $100/hr to own/operate if you're flying it at least 100 hours per year. An engine overhaul is in the ballpark of $30,000 so unless you have the means to come up with that amount of money I'd suggest not buying. If you don't plan on flying at least 100 hours per year, you'd just be better of renting.
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Old 01-20-2020, 01:46 PM   #5  
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The magic number is usually around 200hrs/year for aircraft ownership. I know several people that have done this but here's the thing. And this is the single biggest thing that made this easy for them.

They bought outright.
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Old 01-21-2020, 07:06 PM   #6  
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About 8 years ago I flew with an F/O that owned a Piper Warrior. Had it hangared at a small airport in eastern Kentucky. He told me if he didn't fly a single hour the plane still cost him $500/month, and I believe he owned it outright.
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Old 01-29-2020, 01:52 PM   #7  
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Yes, you will save money training in your own plane, IF, and only IF, you plan everything well and luck is in your favor.
Seek something that has a proven track record like a Cessna 150/152 or a cherokee 140. You will be able to operate these birds for around $65 an hour. You can actually pick up a Cessna 150 for around $15,000. Because these planes hold their value well and are always in demand, once you have all your ratings you can sell and upgrade to something larger like a 182 or Arrow. It's a great option, but requires careful planning.
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Old 01-31-2020, 06:47 AM   #8  
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I would look into flight clubs in the area. I joined one when i was working on my PPL and it worked out well. After the ititial buy in it is $160/ month for member ship fee that takes care of fixed cost of the aircraft ownership, then $60 hr wet for the 172 and $110 wet for the Arrow II.
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Old 02-01-2020, 01:47 PM   #9  
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Always remember the three "F's" rule.
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