Can you check these cost estimates for private-mei?

[mhcasey]

Either the estimate is bogus, or the syllabus is. Take your pick, but I can't figure out why one would need only 25 hours of dual yet 30 hours of solo for your PPL? And only 15 hours dual for the IR? And somehow the airplane you do your commercial in costs $100/hr with an instructor?!

I'd be suspicious with those estimates...

 

[Hubbs]

If I were to buy my own Cherokee 140 or Cessna 152, how much do you think I would pay for all the ratings (not including the cost of the plane)?

Another JCer (38bat, I think) owns a Cherokee and I think he estimated his variable costs (fuel and oil) at about $50/hr, then you have you fixed costs (insurance, tie-down/hangar, MX etc) which would probably come to a few thousand per year. If you estimate $30/hr for an instructor and you get 250 hours in the Cherokee (75 dual, 175 solo) that would come to roughly $15k, but you also need roughly 20 hours dual in a single engine complex (~$3k) and roughly 20 hours dual in a twin (~$4k), which puts you at $22k. Then you have 7 checkrides and writtens @ $500 a pop (~$3.5k). So you are looking at like $25k for your flying costs. The main issue is the initial cost of the plane and the risk of something major going wrong and costing a load of cash.

Personally I wouldn't bother paying for ground school, if you have a decent concentration span then books and test prep PC programs like Dauntless should be a cheaper way of doing it. You will however, need to factor in the cost of books, DVDs, sectionals, AFDs etc, that crap really adds up.

 

[Patrick]

If you have the means, and are at the starting point of zero hours, purchasing your own plane to use for your training will be an advantage- IF you purchase a solid plane. Bear in mind anything you're looking at buying is likely 40 years old, and the examples you'll come across will range from pristine hangar queen to something that should be sold for parts. Prices will vary accordingly. When it comes to buying old airplanes, buy the best plane you can afford, as it will likely be the cheapest to own for your duration. If you go down the road of buying a plane, make sure to get a pre-buy done by a competent mechanic.

For something like a PA28-140 or a C-150 I'd estimate direct operating costs around $30-$40/hr, with fixed costs (hangar/tie down, insurance, the aircraft loan payment, etc) variable depending upon the amount financed, how insurable you are, and the geographic nature of where you would be keeping and flying it. Also bear in mind, that you are very wise to factor in a mx reserve to handle both planned and unplanned service.

Assuming you buy the right plane, you can likely fly it several hundred hours over a year and then sell it for close to what you paid for it. Now, factor in the cost of instruction and checkrides, and there is the cost of attaining your ratings. Of course, there are still plenty of real life variables that could fudge those number up or down, as you have now added risk to the equation when you own your own plane.