Mafoo
Cleared for Takeoff
Ok,
So this is not a philosophical question, but a question about two options in front of me.
The max out of pocket expense I want to spend to get into flying, is 30K.
Option A. find a nice Piper 180 or older Cessna 172 for 25K or so, with a strong high miles engine, and hanger it over at a small airport about 30 min away. The cost to hanger it is $90 if I want to use a shared hanger. There are T-Hangers to rent, but they are about $350 a month. The nice thing is they have the cheapest gas in the area. The airport is Parlin Field (K2B3). I would need to get insurance, and calculate my cost to know what to save for each hour flown.
Option B. One person of a 5 person partnership has a very nice and well maintained Cessna 172 Hawk XP II with a Garmin 430 WAAS, and completely redone interior back in 2002. The plane is VERY nice. It also comes with 38K in the maintenance fund, and they own a Hanger at the airport I want, KLEB, about 15 minutes away. To rent a hanger at that airport is $450 a month. The owner I would be purchasing from uses the plane more then the other 4 combined (two of them don't even live in the state). The cost to buy his share, is 24K along with $155 a month for the Hanger codo fees, GPS subscriptions, and insurance.
Option B sounds like the obvious choice. The only thing that makes me worry, is the cost to fly it is $22 an hour dry, and he says on average it's costing him about $95 an hour to fly. That's 10-12 gph @ about 130 KIAS.
The reason they have 38K in the maintenance pool, is because they overcharge for the hours. That's cool and all, if everyone flew. However if I am the only one flying, I am filling up the kitty all by myself, yet my share of that kitting is only 1/5. On the other hand, I get to own a plane and a hanger for 1/5 the cost.
What would you all do? I am 95% sure what I want to do, I just want to hear your opinions.
P.S. This is not the 182RG partnership I was talking about earlier. The reason this individual wants out of this partnership, is to get into that one. He needs more plane.
So this is not a philosophical question, but a question about two options in front of me.
The max out of pocket expense I want to spend to get into flying, is 30K.
Option A. find a nice Piper 180 or older Cessna 172 for 25K or so, with a strong high miles engine, and hanger it over at a small airport about 30 min away. The cost to hanger it is $90 if I want to use a shared hanger. There are T-Hangers to rent, but they are about $350 a month. The nice thing is they have the cheapest gas in the area. The airport is Parlin Field (K2B3). I would need to get insurance, and calculate my cost to know what to save for each hour flown.
Option B. One person of a 5 person partnership has a very nice and well maintained Cessna 172 Hawk XP II with a Garmin 430 WAAS, and completely redone interior back in 2002. The plane is VERY nice. It also comes with 38K in the maintenance fund, and they own a Hanger at the airport I want, KLEB, about 15 minutes away. To rent a hanger at that airport is $450 a month. The owner I would be purchasing from uses the plane more then the other 4 combined (two of them don't even live in the state). The cost to buy his share, is 24K along with $155 a month for the Hanger codo fees, GPS subscriptions, and insurance.
Option B sounds like the obvious choice. The only thing that makes me worry, is the cost to fly it is $22 an hour dry, and he says on average it's costing him about $95 an hour to fly. That's 10-12 gph @ about 130 KIAS.
The reason they have 38K in the maintenance pool, is because they overcharge for the hours. That's cool and all, if everyone flew. However if I am the only one flying, I am filling up the kitty all by myself, yet my share of that kitting is only 1/5. On the other hand, I get to own a plane and a hanger for 1/5 the cost.
What would you all do? I am 95% sure what I want to do, I just want to hear your opinions.
P.S. This is not the 182RG partnership I was talking about earlier. The reason this individual wants out of this partnership, is to get into that one. He needs more plane.