Hidden costs of buying/owning

Discussion in 'Flight Following' started by bflynn, Mar 22, 2020.

  1. Kevin Eggert

    Kevin Eggert Pre-Flight

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    None of these seem like "hidden" costs to me. They are (or should be) well known by an aircraft buyer/owner. To me, hidden costs would be things like unexpected repairs, unscheduled maintenance, or things like that. If proper research is done, there isn't much hidden in the cost area.
     
  2. Ventucky Red

    Ventucky Red Cleared for Takeoff

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    And yet no one has mentioned "pride of ownership." To me, that takes care of all the entries in the debit column of the owning a plane balance sheet.
     
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  3. lancie00

    lancie00 Line Up and Wait

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    Here's my top 10 but I could probably come up with at least 10 more

    1. Avionics - you will always want more/better
    2. Gizmos - Headsets, flashlights, handheld radio, iPad
    3. Subscriptions - Garmin Pilot, Foreflight, etc.
    4. Taxes -
    5. Training - You'll fly more which means you need your IFR, multi, etc.
    6. Lunch - always costs more at the airport.
    7. Upgrades - Unless you're flying a 747 you'll always want bigger.
    8. Vacation property - it's so easy to fly here we should buy a place.
    9. Logbooks - Somebody has to pay for them.
    10. All the extra miles you put on your car driving to the airport.
     
  4. AA5Bman

    AA5Bman Pre-takeoff checklist

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    Yeah, this does happen - I just went through it. A bunch of stuff in my panel failed at the same time. Would have cost me probably about $5,000 to fix or replace all the old stuff. I was so annoyed with that old garbage that I did the smart thing and replaced them with $30k worth of new stuff!

    And this, ladies and gentlemen, is how you end up doing the upgrades that you swore you would never do.

    There's also a whole list of items that I couldn't live without that I would immediately have to install on any plane I own in the future. Some of which are necessaries that are easily overlooked, and others fit in the categories of pure upgrades. Among the first list: engine block heater (Reiff Turbo XP for me, preferably), Switchbox for turning the heater on, canopy cover, cowl plugs, iPad mount, iPad mini, 6 cylinder EGT/CHT monitor, etc. Among the second: Sportsman leading edge for a Cessna, minimum one-axis autopilot.
     
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  5. AA5Bman

    AA5Bman Pre-takeoff checklist

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    Logbooks?
     
  6. bflynn

    bflynn Final Approach

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    Hidden = easy to overlook, like taxes. You can't overlook them for long.
     
  7. lancie00

    lancie00 Line Up and Wait

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    If you own a plane, you'll fly more which means you'll log more which means you'll need to buy more log books. It's not a big cost but it is a hidden cost.
     
  8. GrummanBear

    GrummanBear Ejection Handle Pulled

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    +1 on avionics. DG failed on day 3. Bought a parts plane (good plane, no engine) with new interior and nice legacy panel the next day for 1200.
     
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  9. psween

    psween Pre-Flight

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    With all the info about costs out there on forums and type clubs, I don't think there's such a thing as 'hidden' costs. What there is, in abundance, is the chance for large unpredictable, random, expenses. Most of these can be accounted for to some extent with a maintenance reserve, but to be hit with an early overhaul, or expensive AD can still hit pretty hard.

    Patrick
     
  10. Paul_Havelka

    Paul_Havelka Pre-Flight

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    Don’t forget the always expensive “While we’re in there we might as well do .....”


    Sent from my iPhone using Tapatalk
     
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