Hey guys,
I was looking at some cirruses when they came to Atlanta for a show. There was this guy there that talked about the "airshares" program. I actually thought it was a really nice concept until i actually did the math. Here's the airshares brochure page:
http://www.airshareselite.com/airportsServed/documents/atlanta_SR22AAG.pdf
If you go down and look at the "payment and fees" section.
Lets just take the 100 hours per year thing into perspective.
Lets not even take the "purchase price" into perspective. If we just look at the "monthly fee" and the "hourly use fee (essentially gas)".
Monthly fee is $1100 x 12 month = $13200
Hourly fee is $93 x 100 = $9300
$13200+$9300 = $22500
If you take $22500 and divide it by the 100 hours you are allowed to fly you get $225 per hour. That's not even including the purchase price you have to fork over and then you have to eat the depreciation value distributed among the fellow owners.
I dont get how this is cheaper than renting one? I thought the idea of owning one was that you save money long term if you fly alot? But i guess not.
aeroatlanta.com in the Atlanta area rents cirruses out for $216/hour. That's an SR22 rate too. They have been the only people that i've been able to find on the internet that rent out SR22's in the Atlanta area.
So... what gives??? If it's so much cheaper to rent one and i dont even have to fork over that huge 5 figure advance to purchase the aircraft... why are people going with airshares elite instead of renting? That $93/hour cost also changes daily with the fuel pricing as well. So we all know it's gone up significantly.
Then if you want a new plane after the 4 year term is up, you have to pay the difference between trade in and a new plane, and also pay a $1500 upgrade fee.
So why dont these people just go rent a cirrus when they want to fly? In places like texas i think the cirrus rental is even under $200/hour for an SR22. Then joining the club at AeroAtlanta even lowers your rental rate to like $209. I think when you plunk down the 5 figures for your share of your plane, you probably have to pay sales tax too.
So... what's the scoop? If one actually had the money to do that, should they rent or buy?
Discuss.
I was looking at some cirruses when they came to Atlanta for a show. There was this guy there that talked about the "airshares" program. I actually thought it was a really nice concept until i actually did the math. Here's the airshares brochure page:
http://www.airshareselite.com/airportsServed/documents/atlanta_SR22AAG.pdf
If you go down and look at the "payment and fees" section.
Lets just take the 100 hours per year thing into perspective.
Lets not even take the "purchase price" into perspective. If we just look at the "monthly fee" and the "hourly use fee (essentially gas)".
Monthly fee is $1100 x 12 month = $13200
Hourly fee is $93 x 100 = $9300
$13200+$9300 = $22500
If you take $22500 and divide it by the 100 hours you are allowed to fly you get $225 per hour. That's not even including the purchase price you have to fork over and then you have to eat the depreciation value distributed among the fellow owners.
I dont get how this is cheaper than renting one? I thought the idea of owning one was that you save money long term if you fly alot? But i guess not.
aeroatlanta.com in the Atlanta area rents cirruses out for $216/hour. That's an SR22 rate too. They have been the only people that i've been able to find on the internet that rent out SR22's in the Atlanta area.
So... what gives??? If it's so much cheaper to rent one and i dont even have to fork over that huge 5 figure advance to purchase the aircraft... why are people going with airshares elite instead of renting? That $93/hour cost also changes daily with the fuel pricing as well. So we all know it's gone up significantly.
Then if you want a new plane after the 4 year term is up, you have to pay the difference between trade in and a new plane, and also pay a $1500 upgrade fee.
So why dont these people just go rent a cirrus when they want to fly? In places like texas i think the cirrus rental is even under $200/hour for an SR22. Then joining the club at AeroAtlanta even lowers your rental rate to like $209. I think when you plunk down the 5 figures for your share of your plane, you probably have to pay sales tax too.
So... what's the scoop? If one actually had the money to do that, should they rent or buy?
Discuss.
. People have their own reasons for doing things, apparently it's not cheaper to own with airshares, but it's undoubtably easier than owning outright, just write your check and go flying. Maybe you should buy a Cirrus and sell shares, you could probably make a lot of money.
