Just wondering if anyone owned their own aircraft out there. Basically, I was toying with the idea of purchasing something along the lines of a C-152/172 and was wondering if someone could tell me the costs associated with it. Ie..Insurance rates per year, maint, etc.. Any info is greatly appreciated. Thanks.
Any Aircraft owners out there can answer quest?
- Thread starter Bluehen
- Start date
C310_pilot
Well-Known Member
Warning! Planes make boats look cheep to own!!!! /ubbthreads/images/graemlins/crazy.gif
montanapilot
Well-Known Member
Re: Any Aircraft owners out there can answer quest
The number one most important part though is to get a pre-purchase inspection. I put a deposit on a 1965 172 which was a beautiful looking and flying aircraft. Well i got in it for inspection and found hella problems. Major corrosion issues inside the wings, low compression (49/80) on two of the cylinders, a prop that had a fair amount of corrosion near the crank, and a crankshaft that was so corroded it would have made the core worthless for exchange. The pre-purchase cost me $200 but saved me $30,000 worth of issues that would have needed to be addressed.
The hardest part of finding 152/172s is that almost all of em for sale are worn out tired trainers. Most I have looked for either have corrosion issues, unacceptable damage history, 10,000+ on the airframe, or are gettting close to TBO on the engine. It is pretty darn hard to find a good one.
If you are gonna get one it might be worth you while to get something a little nicer that has not fufilled the trainer role. Such as a Cardinal,182, or Mooney. Most likely these havent been trainers therefore they arent as likely to have suffered the abuse most trainers encounter. Alot of renters (not all) treat an rental aircraft like a rented mule.
Insurance is not too bad if you have about 100 hours or so you can get insurance on a 172 with a hull value of $40,000 for about $1,000 with most agencies.
If you can find a good shop that is willing to let you help with owner-assisted annuals maintences cost can be low minus that parts that is.
Engine overhauls are a killer though. $12,000 for a basic FBO overhaul assuming there isnt alot that needs to be done. Your lookin at low 20's though for a factory reman or factory overhaul.
The number one most important part though is to get a pre-purchase inspection. I put a deposit on a 1965 172 which was a beautiful looking and flying aircraft. Well i got in it for inspection and found hella problems. Major corrosion issues inside the wings, low compression (49/80) on two of the cylinders, a prop that had a fair amount of corrosion near the crank, and a crankshaft that was so corroded it would have made the core worthless for exchange. The pre-purchase cost me $200 but saved me $30,000 worth of issues that would have needed to be addressed.
The hardest part of finding 152/172s is that almost all of em for sale are worn out tired trainers. Most I have looked for either have corrosion issues, unacceptable damage history, 10,000+ on the airframe, or are gettting close to TBO on the engine. It is pretty darn hard to find a good one.
If you are gonna get one it might be worth you while to get something a little nicer that has not fufilled the trainer role. Such as a Cardinal,182, or Mooney. Most likely these havent been trainers therefore they arent as likely to have suffered the abuse most trainers encounter. Alot of renters (not all) treat an rental aircraft like a rented mule.
Insurance is not too bad if you have about 100 hours or so you can get insurance on a 172 with a hull value of $40,000 for about $1,000 with most agencies.
If you can find a good shop that is willing to let you help with owner-assisted annuals maintences cost can be low minus that parts that is.
Engine overhauls are a killer though. $12,000 for a basic FBO overhaul assuming there isnt alot that needs to be done. Your lookin at low 20's though for a factory reman or factory overhaul.
mastermags
Well-Known Member *giggity*
Re: Any Aircraft owners out there can answer quest
You have an A&P?
You have an A&P?
Minuteman
Moⅾerator
USMCmech
Well-Known Member
Re: Any Aircraft owners out there can answer quest
[ QUOTE ]
If you can find a good shop that is willing to let you help with owner-assisted annuals maintences cost can be low minus that parts that is.
Engine overhauls are a killer though. $12,000 for a basic FBO overhaul assuming there isnt alot that needs to be done. Your lookin at low 20's though for a factory reman or factory overhaul.
[/ QUOTE ]
Performing all the owner allowed maintence typically cuts the cost of an annual in half. If you are in anyway mechanically inclined you can do this. Any idiot can remove inspection pannels, and most people can do a lot more.
Also, don't look at TBO as much as the actuall condition of the engine. I met a guy who flys pipeline patrol every day in a C-172, and his engine has 7,000 hrs on it. It's oil consumption and compresion checks haven't changed a bit in the last 4 years, so he intends to keep flying it.
[ QUOTE ]
If you can find a good shop that is willing to let you help with owner-assisted annuals maintences cost can be low minus that parts that is.
Engine overhauls are a killer though. $12,000 for a basic FBO overhaul assuming there isnt alot that needs to be done. Your lookin at low 20's though for a factory reman or factory overhaul.
[/ QUOTE ]
Performing all the owner allowed maintence typically cuts the cost of an annual in half. If you are in anyway mechanically inclined you can do this. Any idiot can remove inspection pannels, and most people can do a lot more.
Also, don't look at TBO as much as the actuall condition of the engine. I met a guy who flys pipeline patrol every day in a C-172, and his engine has 7,000 hrs on it. It's oil consumption and compresion checks haven't changed a bit in the last 4 years, so he intends to keep flying it.
Tired
New Member
Re: Any Aircraft owners out there can answer quest
http://www.planequest.com
Has operating costs section.
http://www.planequest.com
Has operating costs section.
ananoman
New Member
Re: Any Aircraft owners out there can answer quest
Flying magazine had a good article about estimating ownership cost on a Cessna 182 within the past year. The article on jetcareers does not really give an accurate representation of cost. The engine is the major expense, but don't forget the prop overhaul (avionics, interior, paint, etc), and depreciation. If you buy an aircraft and put alot of hours on it, this will be reflected in it's selling price when you get rid of the plane.
Flying magazine had a good article about estimating ownership cost on a Cessna 182 within the past year. The article on jetcareers does not really give an accurate representation of cost. The engine is the major expense, but don't forget the prop overhaul (avionics, interior, paint, etc), and depreciation. If you buy an aircraft and put alot of hours on it, this will be reflected in it's selling price when you get rid of the plane.
Re: Any Aircraft owners out there can answer quest
Something like a well-equipped older 152 or 172 will cost about $800 to $1200 per month for the loan, taxes, storage, maintenance, insurance, and operating costs for 100 hours per year.
You can proabably expect to pay about 10% of the purchase price the first year just fixing little problems, no matter how good the prepurchase is.
If you want an IFR machine you should definitely buy one already equipped. A decent avionics stack can easily cost $20,000 to $30,000 installed and depreciates fairly rapidly.
There are plenty of reasonably new, low-time 172s and 152s out there, they just aren't cheap. There are not many "bargains". Most all owners know what they have and set the price accordingly.
Something like a well-equipped older 152 or 172 will cost about $800 to $1200 per month for the loan, taxes, storage, maintenance, insurance, and operating costs for 100 hours per year.
You can proabably expect to pay about 10% of the purchase price the first year just fixing little problems, no matter how good the prepurchase is.
If you want an IFR machine you should definitely buy one already equipped. A decent avionics stack can easily cost $20,000 to $30,000 installed and depreciates fairly rapidly.
There are plenty of reasonably new, low-time 172s and 152s out there, they just aren't cheap. There are not many "bargains". Most all owners know what they have and set the price accordingly.