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Old 01-06-2020, 01:59 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, 05:02 PM   #2  
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I wouldnít.
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 youíll need to still rent something else to meet your Commercial requirements.
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Old 01-06-2020, 07:50 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, 12:09 PM   #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, 02:46 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, 08:06 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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