Costs of Aircraft Ownership vs Renting

[mtuomi]

There is no financial justification for "owning".
Until you pass 100 hours a year renting is the winner.
For more than 100 hours you can always fly a nicer aircraft for far less money through a club - or fractional ownership if it is more than 4 owners.

Having said that NO I don't want a partner.
I don't give a damn Scarlet, what it costs. I want MY airplane.

The 100hr rule-of-thumb seems to work pretty well on the average Cherokee-C172 type of plane, assuming you have reasonable rental options available.

I did my numbers and if a C150 is rented for $100/hr (seems to be the norm around here), ownership is worth it at close to 50 hours pa.

 

[jetedrick]

I am really close to closing on a Piper Warrior II and I think it makes sense for me but everyone is different.

 

[onwards]

It never is... yet it seems rather likely that I will be upgrading from having a current third share in an awesome 182 (anyone interested?) to fully owning a decent 6-seater (likely A36 or Saratoga) in the next few months... utterly irrational, I know, but I can't seem to help myself.

 

[RV10flyer]

Once the plane is paid for and our homebuilt is. Our cost per hour so far this year for a measly 25 hrs(yes, ashamed to admit that)= $300. How much do you think a 160 kt, IFR, all-glass plane, wet, would rent for. Probably about that, but have not checked. If I decide to get out of flying, I can sell it easily for what we have in it.

 

[weilke]

im excited. im splitting a 172 with my dad and his friend. he's talked about owning an airplane for a long time now he's finally going split it with me and a friend of his. we met with the flight school where i do my training about lease back programs and he gave some numbers and data to help us HIM

I know excitement is a great thing, don't get suckered into a bad deal on the leaseback. Leasing aircraft is a good business, Udvar Hazy made billions doing it. Leasebacks are something different, you are entering into a joint venture with a partner who holds all the cards when it comes to figuring out whether you are going to make money. If you are a sophisticated aircraft owner and able to keep an iron fist on the maintenance budget, it can work. In the classic leaseback setups that schools offer, that is not the case.

If you already have two partners, there is nothing a leaseback can do for you to 'lower cosr'. There is no cheaper way to fly than in a 3-way partnership on a trainer. Find an independent instructor to teach you and your partners and keep control over your plane.

 

[ferrari-tech]

When you rent, don't forget to add $525 ($175x3 minimal overnight charge) + tiedown fee for each day you remain at your destination.

That has been the only down side to renting that I have come across.

In my local area, my owner friends pay between $1000 and $1500 a month before they put a gallon of gas in or turn the starter, and some of them are in owner/partnerships.

I too was excited when I found that I could buy a reasonable safe and flyable plane in the 60-100k range, until I went to look at some of them.

I equate it to potential Ferrari owners who send me to inspect a vehicle that they like purely because it is $30k less than others....(but is red ), must be a deal right.....wrong, we always find way more in deferred maintenance and problems than if they just buy the more expensive car.

I've already seen a local 182 that has about 200 hrs left on the engine.. plane will cost me $50k, engine $30k ???? plus god knows what else, I figure I would be in it a minimum $100k.

I pay $165 wet for a 3 year old G1000 C172 that's owned by an FBO that is a Cessna dealer and has its own maintenance shops, and because its "so expensive" is pretty much available on demand.....
Minimums are 3hrs sat-sun, 2hrs in the week....that's a lot of over nights before I get to that $100k mark...

So for me right now I could not own what I fly for what I rent it for

 

[DSLethal]

One easy way to answer your question is this. A lot has to do with where you are flying. Are you flying down to Florida for the weekend? Or for a week? Most places are not going to let you rent a C172 to fly from up North somewhere down to Florida for a week vacation and only put 18 hours on the plane. If you are just flying locally for fun, then listen to the others when they say when you are flying over x amount of hours a year, then buy a plane.

For me, I'm in the market to buy a plane because I'm going to be flying down to Florida from up North at least 6 to 9 times a year. Plus flying over to NYC and where ever else the wife would like to go lol.