C-150 cost

[LearLove]

I'm thinking of buying a 150 to do alittle recreational flying. I currently rent about 3 to 5 hours per month at the local FBO but if I buy a 150 will fly it about 10 hours per month. Is my budget below in the ballpark for thoes that have done this before:

I have 8000 to put down but want to put down 6000 and keep 2 in the bank. I'm looking at spending 18,000 so a loan of 12 to 14 grand at 10% will put me in the 200 per month at the most on the loan.

200 /month loan
75/month insurance
60 / month tie down
150 / month MX (10 flight hours/month at 15 an hour is 150)
170 gas/month (2.8/gal X 6gal/hr X 10hr/month is 168)

Total = 655 at 10 hours per month flying thats 65.5 an hour. This estimate is on the conservative side I think the number may be more like 600 to 620 per month so 60 to 62 per hour. Why? well I looking for a 150 with auto fuel STC so I'll do half AV gas half mogas, the tiedown I can get for 40 if I go grass, the loan will be more like 185 and the insurance quote is worse case. It should be more like 60-65 per month.

Any input?

Thanks

 

[Uncle Sparky]

I can't answer the overall question but having helped my boss maintain his personal airplane, don't leave out the biggest factor in your planning........Maintenance. You might want to talk to some owners and find out what their maintenance "gotcha's" have been as well as pricing the annual.

 

[Lead Sled]

A good rule of thumb that will put you in the ball park for most SE fixed gear aircraft is...

Operating costs equals 3 time the cost of fuel. In other words, if fuel costs $3.00 a gallon (boy, typing that about makes my fingers cramp) you're looking at $16/hr for fuel and a total of $48/hour operating costs. When you buy the airplane, make sure you keep enough (10% perhaps) to cover unexpected post purchase maintenance and incidental costs. Above all, make sure you run a title check before you sign on the line - a mechanics lien or other type of incumbered title could run your whole day.

Lead Sled

 

[English]

When I bought my airplane, I went through Northwest Airlines Credit Union. I got a better interest rate than the 10% you mentioned, and that was in 1998 when interest rates were higher. Does USAirways have a credit union? Your other numbers seem good, but I think your interest rate is a little high.

 

[cwuflyboy]

Your calculations are very close to what you will spend. I am doing the same thing right now, went out bought a 150 to fly for fun.

Here are my costs
Fuel (GPH):6Fuel Costs/Gallon: $ 2.60 Fuel Costs/Hour: $ 15.60 Oil Costs per Hour: $ 1.00 Maintenance Cost/Hour: $ 2.50 Hourly Engine Reserve: $ 2.50 Prop T/R Reserve: $ - Total Variable Costs/Hour: $ 30.20 Average Speed (MPH):90Cost/SM: $ 0.34 Annual Insurance: $ 575.00 Annual Hangar/Tiedown: $ 720.00 Training: $ - Total Fixed Costs: $ 1,295.00 Hours/Year:100Fixed Cost/Hour: $ 12.95 Total V & Fixed Costs/Year: $ 4,315.00 Total Costs/Hour: $ 43.15 Total Cost/SM: $ 0.48
Add my monthly loan payment and it is close to 90/hr.
Where are you located? I'd be interested in a partnership...