Cost of flight training today?
- Thread starter typhoonpilot
- Start date
If you have a lump sump of money for training and can afford an aircraft, then that is the smart thing to do. Buy it for training and sell it after you are done. Even with a mid-time engine and a possible field TEOH, you will still come out on top. It helps if you also mechanically inclined and not always throwing the keys to the local A&P.
SlumTodd_Millionaire
Most Hated Member
Last I checked, a 10 year old Cirrus is still going for $150k, and the guy who bought it probably had to drop an additional $30k on engine overhaul. So yeah, that's still a guy with pretty deep pockets.
Richman
JC’s Resident Curmudgeon
But 150K is a far cry from the $600-700k that a new one costs, even if you have to drop a new engine in it.
A new 182 in 1974 (the year before that the slope of the increase really took off) was $23,500, equipped, out the door. In 2015 dollars that's $112k....not too far off from the 10 YO Cirrus.
Your typical upper middle class guy....lawyer, doctor, small business owner, vice-president of paperclips at BigCo are all probably within shouting distance of managing that, and my guess is their net worth wouldn't be more than two mil, three at the tops. Lawyers don't even roll out of bed for that kind of chicken scratch.
For someone to drop that kind of coin, $700k, we're talking an order of magnitude or two in net worth to make that jump. The guy who drops that much more over an airplane that is essentially the same airplane as the years before, does so because not only does he have enough money, but he has enough money to not take spending that much more for a "new" airplane seriously.
Richman
A new 182 in 1974 (the year before that the slope of the increase really took off) was $23,500, equipped, out the door. In 2015 dollars that's $112k....not too far off from the 10 YO Cirrus.
Your typical upper middle class guy....lawyer, doctor, small business owner, vice-president of paperclips at BigCo are all probably within shouting distance of managing that, and my guess is their net worth wouldn't be more than two mil, three at the tops. Lawyers don't even roll out of bed for that kind of chicken scratch.
For someone to drop that kind of coin, $700k, we're talking an order of magnitude or two in net worth to make that jump. The guy who drops that much more over an airplane that is essentially the same airplane as the years before, does so because not only does he have enough money, but he has enough money to not take spending that much more for a "new" airplane seriously.
Richman
SlumTodd_Millionaire
Most Hated Member
I know a lot of lawyers who roll out of bed for a lot less than a couple of million. If there's enough money in the guy's bank accounts and investment accounts to cover their attorneys' fees, they're interested. Hence, expensive GA.
drunkenbeagle
Gang Member
Plus, anyone with a million or two of net worth is going to want to carry well more than that in insurance...