Buying a Plane for Training?

[777-2H4]

How does this work to save you money. You have to lay out the cost of a plane, say $30k - $40k at least, to get something decent, right? Then you have insurance and hangaring cost. Then add maintenance and repairs. then when you schedule a lesson you need fuel plus pay for the instructor's time. In the end, isn't it about the same? If you have some major breakdown with your plane like engine work or prop balancing or whatever, that stuff can be expensive??? For the same $30k I could buy lessons at an FBO and probably get a couple ratings. I dont understand how it saves you money.

 

[gkrangers]

You know you sell the plane when ur done with it, right.

 

[Sawmill]

Rent + Instructor = $130.00/hr to 140.00/hr
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Buy: $35,000. airplane that is IFR certified with 10% Down is roughly $330./Month. Insurance is about $100./month. Annual Inspection $100./month. Tie-down $35./month. Planned and unplanned MX $100./month. (These figures are what I used when I bought with no flight time. Figures may vary some.)
Total Fixed Costs= $665./month.
Variable Costs= Fuel @ $4.50/galX9 gal/hr = $41./hr
Instruction @ $25./hr
Now fly:10 hours a month and you will pay $132./hour and save $-20./month
(Obviously flying only 10 hours a month is not worth buying a plane)
20 hours a month and you will pay $ 99./hour and save $ 620./month
30 hours a month and you will pay $ 88./hour and save $1255./month
Sell the airplane after 2 years and have 720 hours built up, saving $30,120. (or $14,880.), less the down payment, for near what you paid for the airplane as long as you did your research and bought a descent plane with time still left on the engine. By the way, there are Cessna 150's out there that are IFR certified and run around $20K to $25K.
This is what I did and have saved a lot of money. Also, if you set up a corporation to buy the plane in DE, the taxes are not an issue. Just my .02.

 

[jaxpilot]

yeah but cmon how are you gonna find a freelance instructor that will give you airline style flight training?

 

[777-2H4]

How much do used airplanes depreciate? If its anything like cars (probably isn't I'd guess) then you lose $$$$ when you sell it.

 

[dmspilot00]

How much do used airplanes depreciate?

Zero?

 

[mattaxelrod]

I think if properly maintained, used planes appreciate in value.

 

[xshuttlefa]

Depends on the model and year, but in general, single engine, fixed-gear planes are nearly depreciation proof. Once again, it all depends on the condition of the plane, the age of the avionics, the total time on the engine and prop and other life-limited parts and total time on the airframe.

I've seen some high-time, engine- near-TBO, old avionics, VFR only C-150 advertised for under $25,000, but as with anything, you get what you pay for. But again, I've also seen really nice IFR equipped, new avionics and a low-time engine C-152 advertised near $35,000. Now the question is: Do I get a really nice 2-seat C-152 that's IFR or an older, not as nice C-172 with four seats?

1984 C-152 (new) was nearly $40,000 to give an idea about depreciation. Pipers like the Warrior seem to be slightly cheaper then simliar Cessnas. I have some time in a Beech Sierra, which was the complex version of the Musketeer. I'd love to find a Musketeer over a Skyhawk.

 

[Gryphon]

Depends on the model and year, but in general, single engine, fixed-gear planes are nearly depreciation proof. Once again, it all depends on the condition of the plane, the age of the avionics, the total time on the engine and prop and other life-limited parts and total time on the airframe.

I've seen some high-time, engine- near-TBO, old avionics, VFR only C-150 advertised for under $25,000, but as with anything, you get what you pay for. But again, I've also seen really nice IFR equipped, new avionics and a low-time engine C-152 advertised near $35,000. Now the question is: Do I get a really nice 2-seat C-152 that's IFR or an older, not as nice C-172 with four seats?

1984 C-152 (new) was nearly $40,000 to give an idea about depreciation. Pipers like the Warrior seem to be slightly cheaper then simliar Cessnas. I have some time in a Beech Sierra, which was the complex version of the Musketeer. I'd love to find a Musketeer over a Skyhawk.

I've been looking at the Musketeers too... kinda like what i see, and the prices are similar, in Trade-a-Plane, or Aircraft shopper online, you can find em for 21,000- 35,000.. Again, you get what you pay for. I'm training in the 152, but i kinda like the low wing... pity my school doesn't have any.

 

[Fearless Tower]

How much do used airplanes depreciate? If its anything like cars (probably isn't I'd guess) then you lose $$$$ when you sell it.

If you buy a brand new 2006 Cessna 172 or 182, or any new plane, yes, it will depreciate quite a bit just like a car, but older planes (as long as the engine isn't rapidly approaching TBO) will typically hold their value and/or appreciate.