Buy A Plane Or Rent? Options

[livingwarbirds]

If one is really passionate about learning to fly, and continuing to fly after getting a license, does it make sense to buy a plane such as a Cessna 152 or similar, rather than renting one for lessons?

Seems they can be bought for less than a car!

How much does insurance typically cost?

Thanks for your help.

[Becky_KSTS]

I love to fly, but my husband is not interested in flying and does not support my awful habit. I will rent when I have to but I cannot afford the upkeep, hanger costs and insurance to own my own plane. The solution for me was to join a flying club. I fly for about $300 per month give or take for our Cessna 172. I aim to fly 3 or 4 times per month. I also split the cost of flying with another member when I can which saves even more. Flying clubs are harder and harder to find but once you hook into a good one, I think you will find the investment well worth it. Hope this helps.

[AirRabbit]

There are several websites that allow you to enter data to see what the "cost" of owning/operating your own airplane would be ... but the long and short of it is that if you're not going to operate your airplane for at least 400 - 500 hours a year - and are able to write off a lot of the expense on your income tax - you're way off better to find a reasonably priced aero club and pony up the bucks to join, learn, and fly ... which is, I think, what Becky was saying.

[ChillSpiller]

I'd guess it is right what AirRabbit is thinking that he is thinking about Beckys thoughts. That is if I am right in what I am thinking... erm, however.

Welcome to the forum livingwarbirds!

I can only agree to what both of them said. It's not only the insurance you have to think of but maintenance and overhaul all adding up to a nice stack of money each year. Some of it you will also have to pay no matter if you are flying or not. Then you'd also need someone to look into the books. Unless you weren't born rich I'd rather rent, join a club or have a shareholdership.

[BMeister]

To Own or not to Own

That is a really good question. If I was to start my flight training over again, back to my student pilot days all the way through my Flight Instructor ratings, I would turn around to you and say, the best I would of done is to buy a Used C172 in an airworthy condition.

Why??

Well... You rent an aircraft for every hour, and all your doing is making another person rich, or buying the plane for another person?? Just like renting an apartment, your making the owner richer...

Why would you want to throw away dead money?? Well... obvious reasons would be because you dont have that sort of money to go out and buy a used C172.

Why is it a very good Idea to buy a plane now??

Answer is simple, the econemy is really tough, you can get planes for pennies on the dollar, I mean there are some really great deals out there.

Advantage of buying a plane, Buy a plane at an amazingly great price with the deals people are giving away because they need the extra money.... so you buy the plane, rack up several hundred hours or a couple of thousand, when the econemy picks back up again, turn around and sell it, you might even be able to sell it for the same price you bought it for when the prices of things go back up, so you've racked up flight time, and got all your money back on your plane, or close enough...

Bottom line,
Buy a plane, especially now, fly for several hundred hours, sell the plane for the same price you bought it, and all that money you would of wasted renting planes and throwing away dead money, you could essentially own the plane and basically fly it for free. obviously expenses, Annual Inspections, Piotostatic/Transponder and Altimeter inspections and hanger tie downs, which I hear is anywhere from $20-30 a month. and fuel per hour which is around 5-8 Gallons an hour roughly.

If I could do all again from the beginning I would own my own plane and rent an instructor, to teach me to fly in my own plane...


infact Im thining about buying my own plane and instructing in it, now that I'm qualified.

Best Regards
Everyones financial situation is different, in an Ideal world the above would make the most sense.

BECKY- I'm sorry to hear that your other half doesn't support your passion and love to fly.

[Becky_KSTS]

BECKY- I'm sorry to hear that your other half doesn't support your passion and love to fly.

BMiester,
thank you, and it is becoming a problem. however I cannot quit flying. It's funny but I still shake on every landing (almost) but I want to go right back up and do it again....seriously? Am I sick or what??

[Ranger]

Am I sick or what??

Sick? No. Maybe a bit kinky, but certainly not sick!

[BMeister]

BECKY!

Helloo!!! Well the day you have to stop because it's becoming too much of a problem for your other half is the day, you should find another half.

I love this profession greatly despite the very tough times for flight instructors and aspiring airline pilots, but things will change point being I met someone that I dont think understands what support my career requires and the fact that travelling long distances for several days, is to come!!

point being aviation is amazing, but definately something that needs to be understoo and supported by one's other partner.


the reason why you get Shakey/anxious maybe is definately an exciting feeling, perhaps adrenaline?

I get adrenaline and a little shakey when I'm teaching an IFR student to fly in full IMC down to minimums at times to airports we've not tried before by giving them flight instruction by ORAL teaching and by not touching the flight controls, try doing that and have nails left, obviously I create a margin of safety where I would then step in, in the event of any unpleaseant forseeable situations.

Joyful

Great to talk to you all, I've been Away - It's good to be back.

[dash8q300]

Jeez, I get nervous and shaking in flight simulator! Hope I'm not too bad in real life!

Dash,

[Aspiring Boeing ...]

Jeez, I get nervous and shaking in flight simulator! Hope I'm not too bad in real life!

Dash,

Especially on those turbulent approaches into busy airports like Sydney and Heathrow... you're not the only one. I never do on the real thing though, or on my flying lesson.

Regards

[Fast Jet]

If one is really passionate about learning to fly, and continuing to fly after getting a license, does it make sense to buy a plane such as a Cessna 152 or similar, rather than renting one for lessons?

Seems they can be bought for less than a car!

How much does insurance typically cost?

Thanks for your help.

See how much engineering are going to charge you for Maint` checks, are they friendly, can they give you a quote?

Insurance is comapraitively cheap for what you get. . . back in the nineties, I could insure one C152 against a 100,000,000 GBP indemnity for a 1,000 GBP per annum. Also, if you are well in with your local airfield, flying club or whichever, then your parking and hangarage fees will be budgetable - try budgeting with the Maint` people. If you operate at a large regional airport or near a small to medium airline, try to get in with the Chief Engineer, s/he may be able to help but will always give you impartial advice, these people, you can trust big time. A friend once said, if it flies, floats or fornicates, always hire it.

Good luck.