How much to own and fly your own plane annually?

[Flightjock30]

Ok heres the scenario: I am thinking about buying a 1998 Cessna 172 by financing it. I would plan to fly it about 10 hours per month, buy 100LL AvGas for it (obviously), rent a tiedown spot, do preventative maintenance, insurance costs, and have the annual inspection done. How much do you think this would cost me on a yearly basis to enjoy owning this airplane? Just curious if anyone knows based on their experiences owning airplanes. Thanks.

 

[88_MALIBU]

I own a 1966 Cherokee 180. Here is the breakdown in my annual costs.

$850/ year insurance
$1,500/ year hangar
$2,000/ year annual and general MX (Stuff breaks)

I figure I pay $362/ month just in upkeep and general expenses. This does not include fuel and engine depreciation. I wouldnt buy a brand new or newer 172, arent hose like over $100,000? I would think your depreciation would be less when you sell on an older model?

 

[sstearns2]

Ok heres the scenario: I am thinking about buying a 1998 Cessna 172 by financing it. I would plan to fly it about 10 hours per month, buy 100LL AvGas for it (obviously), rent a tiedown spot, do preventative maintenance, insurance costs, and have the annual inspection done. How much do you think this would cost me on a yearly basis to enjoy owning this airplane? Just curious if anyone knows based on their experiences owning airplanes. Thanks.

OK I'll take a shot,

yearly cost

interest 8000
insurance 1500
annual 2000
gas for 120 hours 2500
tiedown 500

total 14,500 per year
or $120 per hour.

I'd call this the minimum. A good engine overhaul is about $20K installed.

Scott

 

[fr8dogfo]

,

"yearly cost

interest 8000
insurance 1500
annual 2000
gas for 120 hours 2500
tiedown 500

total 14,500 per year
or $120 per hour.

I'd call this the minimum. A good engine overhaul is about $20K installed."



Owning and flying your own airplane where and when you want.....Priceless

 

[dhc8fo]

I have a 1971 Cherokee....

$650 insurance
$1,800 annual with a few minor things wrong
$45 month for tiedown

Only cost $35K to purchase but it is paid for. Gets about 9 gallons to the hour. I flew it 80 hours last year. I aim for 10 a month, but don't get it often.

Hope that helps for comparison.

 

[TDTURBO]

I have a R182 and it costs about 150/hr if I fly 150 hrs/yr. So I fly more, my overall costs go up but my hourly drops. 2000/yr insurance
2500 annual with minor fixes
I own my own hanger but still I have to pay 60/mo for electric and taxes.

I figure it costs me about 25k/yr to own and fly 225 hrs/yr, at least I hope it does.

If you figure in the cost of the money, which most people neglect to do, a fixed gear 182 of 1980 vintage was broken down to 200/hr in Private Pilot Mag flying 150hr/yr.

I would say that unless you NEED to fly for business, renting is much cheaper.


If you score a good deal on a plane it usually ends up costing more on the back end also. There really is no cheap way to own.

I live 2 miles from the airport so it makes it worthwhile for me, I suppose you have to sit down and be honest with what your mission needs to be.

Flying is more important to me than a big house, so getting a plane was an easier decision.

You only live once, you might as well enjoy life, just don't get in over your head and end up in too much debt.

 

[Vector4fun]

I have a '72 Skyhawk. So far my expenses are around:

Hanger-$1800

Insurance-$800

Annual and Maint. I'd budget between $1500-$2000 / year. You can get by for a bit less, but if you do, you'll want to spend the extra on accessories or upgrades. Don't forget the other inspections like Transponder and Pitot-static. But Skyhawks are dirt simple to maintain as airplanes go.

Your insurance is gonna be higher because the hull value is gonna be greater, and (depending on local I suppose) it's higher if it's not hangered. My insurance is based on a $45k hull. We've had hail around here 3 consecutive weeks. I would not tie an airplane outside in Texas if I could avoid it.

 

[Flyin Tony]

Lots!!!!!

 

[Flyin Tony]

The other day I was flying around and when I was pushing the plane back in a tiedown there was a ton of oil on the nose wheel. come to find out, bent a push rod, broke a push rod tube. Only lost a qt of oil in like 15-30 sec. Btw it happen right when I was landing (we think) Had a A&P look at everything and make sure nothing was stuck. I brought her home and she is still down and this F up is going to cost like 2grand. But its better then renting!!!!

 

[Flightjock30]

Im gunna need a good career! Id rather live in an average house and drive and average car to be able to afford my own plane anyday! So many wonderful destinations to fly to here in the Northeast US. I love flying GAs.