desertjets
Posts: 7586
Joined: Fri Feb 18, 2000 3:12 pm

Owning Your Own Plane, Is It A Realistic Goal?

Mon Jun 23, 2003 3:23 am

One of these days I hope to have the time and the money to get my PPL and likely an instrument rating.

Now what I would like to know, is the cost of ownership and operation of a single engine aircraft feasible for most people. Moreover can one own and operate an aircraft that is reasonably capable of longer cross-country flights and also be a suitable IFR platform. In my mind this excludes planes like the C150/152, Cherokee 140/150, Skyhawks, and the like. What this would include would be something like a M20J, C-182, Piper Dakota, Socata TB-20, BE33 and so on.

What is a realistic estimate to own and operate one of these birds? And how much would you need to fly a year to really justify the cost of ownership?
Stop drop and roll will not save you in hell. --- seen on a church marque in rural Virginia
 
jhooper
Posts: 5560
Joined: Thu Dec 13, 2001 8:27 pm

RE: Owning Your Own Plane, Is It A Realistic Goal?

Mon Jun 23, 2003 3:43 pm

Rather than to try to answer this question myself, I'll refer you to this good article:

http://www.planeandpilotmag.com/content/2002/aug/rent.html

Is aircraft ownership feasible for most people? Sorry, the answer is no. Most people in the world barely live on a subsistence income (meaning they can barely put food on the table), so I guess it depends on what you mean by "most people". Is is possible for you to own an aircraft? Well, maybe. Read this and similar articles and decide for yourself. A good used skyhawk is a good choice for the first time buyer, IMO. It has reasonable operating costs and isn't a terribly bad IFR platform, either. When you're ready to step to high performance, prepare to dish out some $$$.
Last year 1,944 New Yorkers saw something and said something.
 
saintsman
Posts: 2037
Joined: Fri Mar 15, 2002 12:34 am

RE: Owning Your Own Plane, Is It A Realistic Goal?

Mon Jun 23, 2003 3:54 pm

Well a lot of people do own their own aircraft so the answer is yes. But what you need to ask your self is will owning your own aircraft give you value for money. Why tie up a huge sum (unless you really can afford it) on something that you might only use one day a month. How often do you intend to fly?

Another thing to consider is the type of aircraft you can afford to buy. Would it be better renting an aircraft of a much higher spec, something that will improve your skill or maybe give you a dual rating.

And finally its not just buying an aircraft, its also maintaining and operating it. Not cheap by any means.
 
POSITIVE RATE
Posts: 2121
Joined: Sun Sep 16, 2001 11:31 am

RE: Owning Your Own Plane, Is It A Realistic Goal?

Mon Jun 23, 2003 4:28 pm

There is an old saying that goes like this: If it flies, f#$% or floats rent it!

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