Dad's idea

Theotokos

New Member
My dad has seen the price of the used aircraft and thinks I should buy one and "train out of that". He said it beats the price you pay per hour. I mean I know they are the price of a decent car but I know there are so many other factors that make it not worth it. Can anyone help me with explaining this to my dad? What should I tell him? He saw some used Cessnas for like 17k -25k.
 
Why do you think it's a bad idea? I think you're dad's a smart guy. Give him my email if he has any questions.
 
Theotokos said:
My dad has seen the price of the used aircraft and thinks I should buy one and "train out of that". He said it beats the price you pay per hour. I mean I know they are the price of a decent car but I know there are so many other factors that make it not worth it. Can anyone help me with explaining this to my dad? What should I tell him? He saw some used Cessnas for like 17k -25k.

Your father's error is that he doesn't know aviaiton, and he doesn't know the costs beyond the capital acquisition price.

Take the $25k price as the example point. Assume sales tax, if applicable (it is in most states) runs ~5%, or $1250. Estimate that insurance for a solo student pilot/owner will run ~$1750, give or take (call a broker for a quote). Hanger of a year runs ~$1900/year ($160/mo) around here (check local market for an accurate estimate--it could be a whole bunch more). The average student takes ~55 hours to the private pilot certificate. Assume a C172 averages 8 gph, 55 hours, $3.50/gal, so fuel is ~$1550. Sum all of the above, you have $6450 invested in the first year and 55 hours of training, or $117/hour, and we haven't allowed for the first annual, normal wear & tear, nor banked any funds away for the inevitable surprise. Nor does our per hour estimate include costs beyond sales tax of finding and purchasing the aircraft--costs that usual run into several thousand dollars.

~$117+/hour minimum cost for a beater C172 that you could probably rent for ~$70, wet, without any additional financial risk or investment. That's what your father doesn't realize.
 
Theotokos said:
My dad has seen the price of the used aircraft and thinks I should buy one and "train out of that". He said it beats the price you pay per hour. I mean I know they are the price of a decent car but I know there are so many other factors that make it not worth it. Can anyone help me with explaining this to my dad? What should I tell him? He saw some used Cessnas for like 17k -25k.

If you wanted to come up to Indy, we could sure use another plane on leaseback :D
 
I do not think we will buy because I would have to help pay and after all my bills that is not a smart idea although I may do what my cousin's husban does one day..he just has his PPL but is is in a flying club so they share a plane. Neither I nor my father can afford the costs alone. I mean I am going to have rent, car payments, car insurance, loan payments eventually, student loan for college..just too much at the moment.
 
VicariousLiving said:
Your father's error is that he doesn't know aviaiton, and he doesn't know the costs beyond the capital acquisition price.

Take the $25k price as the example point. Assume sales tax, if applicable (it is in most states) runs ~5%, or $1250. Estimate that insurance for a solo student pilot/owner will run ~$1750, give or take (call a broker for a quote). Hanger of a year runs ~$1900/year ($160/mo) around here (check local market for an accurate estimate--it could be a whole bunch more). The average student takes ~55 hours to the private pilot certificate. Assume a C172 averages 8 gph, 55 hours, $3.50/gal, so fuel is ~$1550. Sum all of the above, you have $6450 invested in the first year and 55 hours of training, or $117/hour, and we haven't allowed for the first annual, normal wear & tear, nor banked any funds away for the inevitable surprise. Nor does our per hour estimate include costs beyond sales tax of finding and purchasing the aircraft--costs that usual run into several thousand dollars.

~$117+/hour minimum cost for a beater C172 that you could probably rent for ~$70, wet, without any additional financial risk or investment. That's what your father doesn't realize.


The cheapest part of buying an airplane is actually buying the airplane. :D
 
Doug Taylor said:
Bring it out to Arizona. JC Flight school!

What if we started one up where you chunk down $80k and then we guarantee them right seat time in a shiny Kingair!

Sounds like a plan to me! Base it out of Stellar Airpark perhaps?
 
Devil's advocate here: What if you don't like aviation? Get your PPL first, or at least get rolling in this thing and see if you like it. (I'm making the assumption you haven't started)
 
Also, MTX is a big cost factor in owning your own plane.

Realistically, just rent for now.
 
The only way owning your plane would be affordable is if your yearly hours in that plane exceed that of the total yearly renter hours of a rental plane, assuming they had the same variable costs per hour rate. An aircraft has high fixed costs (loan payment, insurance, hangar fees, annual inspection fees, fixed maintenance fees). So the only way those fixed costs per HOUR can be reduced is if the aircraft if flown a LOT. A lot meaning it flying either in a flight school operation or a fractional ownership situation. Variable costs of course go up with more use such as fuel and some wear and tear-related maintenance.

Now, if the cost is not a factor or the convenience of having your own plane is more valuable then by all means own an aircraft!
 
DE727UPS said:
"Dude sorry, i had to!"

Nice catch kiddo. LMAO...

Haha

Everyone always busts out with the "SPELL CHECKER" so it was one time in a life time.

Trust me, im the one NOT to correct people on ONLINE speech - it's dumb to me.

As long as you can understand what they're trying to get across is the key.
 
"Your father's error is that he doesn't know aviaiton"

You can't touch a 172 for 25K but that will get you a nice 150/152. You can burn auto fuel and save about half what avgas costs you. No need for a hanger, tiedowns work fine, just a little more work if it snows. If you can make friends with a free lance mechanic looking for some flight time, that can help a lot of maintanence costs. Also, if you know anyone in the same boat as your with the same goals, a partnership my work.
 
I'm not one to correct spelling, either. But when a guy calls me a moron three times in three sentences and then screws up "your", I'm gonna say something.
 
"Bring it out to Arizona. JC Flight school!"

The only reason I haven't sold my poor 152 aerobat that I never fly is cause I think I'll be spending a lot of time in PHX after I upgrade and it might work out to take it down there.
 
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