Thinking of buying a plane...

[Rreemo]

My next door neighbor is a 777 pilot with AA, and I have a couple other buddies that are 737 pilots....they all proclaim this to be the absolute dumbest investment that you can possibly decide to move on as a hobby.

...and they've all berated me at various times when I've said that I just want to fly a small plane on my bucket list.

[Sean88gt]

No G6 no care

Is he an Atlanta pastor?

[GE]

No. Just no, no, no. Just look at this thread. There are people on this thread that have had it in their blood for years, and have sunk tons of money into it. You went out on a dinner date and think it's what you want to do? I don't even know where to start...

[01-GATOR]

Is he an Atlanta pastor?

can you believe that guy?

[BERNIE MOSFET]

I think the point being made to you is to understand that this almost becomes a lifestyle choice. Go take an introductory lesson. It doesn't cost much. Also, find an FAA airplane flying Handbook and read through that.

Look into operating cost by flight hour of the aircraft you'd interested in. Maintenace costs are generally in that number. Time limited maintenance intervals are generally based on flight hours. You might be able to gauge this by calling around and asking what rental costs are per hour on the airplane.

I would think that if the cost of getting your Airman Certificate seems high, you may not want to do this.

[Dave586]

I have done a lot of researching into this. I have been a private pilot for over 10 years and really enjoying flying. It hurts shelling out $600 + month for four hours or more flight time - but at the end of the flight - I enjoy the fact it's not MY airplane.

Some costs to get you crunching on if you go out and buy a $50,000 C-172. It will be about 40 years old or older-
$1500 a year for annual inspection - if it passes and no work is needed
$200/month insurance if you keep it in a hanger
If you find a hanger in the DFW area - that isn't packed full of planes - $200 a month
T-hangers generally run $400 a month or higher. Oh wait if I rent a T-hanger I'll need electricity because then I can do *some* work on my Shi$t - another $100 a month - also add hanger insurance

Now we can get into operating costs-
You will need to budget a "reserve" for the invitiable engine rebuilt at 2000 hours. Some pilots say you can go way beyond depending on your "compressions" but just remember you are the pilot in command - and if your engine dies and you crash into someone's house and kill them - it will be your fault because you didn't rebuild your engine at the recommended TBO. - so that's at least $15000 - if you fly 250 hours a year then it's about 8 years before you reach TBO.
Tires.
Brakes.
Misc stuff that breaks.
Paint, airframe work.
Lights
Gas generally over $5 gallon - the plane generally burns on avg 7 to 8
Oil - uses a quart of oil every four to six hours - more oil use in summer due to heat.
spark plugs - they get fouled from running rich on the ground to keep the engine cool during the summer - more so if you fly out of Addison a lot.

Stuff that breaks when you are 500 miles away from your local A&P and you have to pay more because they know they have you.
System inspections that fall outside the annual.


I have read that the "break-even" point is if you fly at least 250 hours a year - that's about $35000 a year - which is on par for the average of owning a single engine airplane. So do you have an extra $35000 year?

[ELVIS]

Is he an Atlanta pastor?

haha!

god bless.

[IHaveAMustang]

I love flying.

My favorite part is the pre flight drink of apple juice before the flight attendants close the door.

[mustang_revival]

North Dallas / Plano: Introductory Flight Lessons - 99.99

_http://local.amazon.com/deals/B00JKV699Q?ref_=cm_sw_em_r_&cid=share_em

[Rotortrash]

A couple of good comments in this thread, a lot of misinformation, as well.

My Dad and I have owned our airplane since 1975. Granted, I was 3 when he bought it, but in recent years as dad flew less and less, the costs of ownership and operation have been passed on to me.

Flying is expensive, and it is a lifestyle choice. Just like owning a boat, or a large vehicle payment. It can be done by the working man, you just have to have the commitment. I know several folks who make in the $45-$60K a year range that are aircraft owners. They are the exception, not the rule these days. Most folks at the airport are 6 figure salary folks.

To rent an airplane and get your license is expensive. With the cost of fuel, insurance, maintenance, instructor, etc., the hourly cost goes up. I think its around $7-$8K these days.

Airplanes are cheap these days. A friend just bought a Piper Cherokee 235 for $19K! You can spend as much or as little as you want, but there are some nice airplanes out there for not much $$$.

Insurance is cheap. Might be a little high while you're a student pilot, but after you get your private, its cheap. Our airplane is insured for $60K, must have at least a private license to fly it, and its $800 a year.

Maintenance can go either way. Some shops wont even touch older airplanes, if they do they want $$$! There are typically guys on the field that do it independently that are reasonable. Just have to ask around as to the quality of their work.

Overall, it can be done if you have some discretionary income. IT is a VERY rewarding experience, but it can drain you if you let it. Look into it objectively, talk to some ACTUAL owners, and make your own decision.

Send a PM, I'll give you my number to call me if you like. I'd be glad to take you on an intro flight to see if you like it.

[66n2ocoupe]

Multi Engine/ Instrument rated.

I buy and sale aircraft for a living. I have been doing it for the last 23 years. I love aviation and flying. If you have any questions PM me....

[YALE]

Multi Engine/ Instrument rated.

I buy and sale aircraft for a living. I have been doing it for the last 23 years. I love aviation and flying. If you have any questions PM me....

The hell you do, sir!

[BMCSean]

He meant sail, I'm sure.

[likeitfast55]

ATP-MEII-8 type ratings.

Have flown most of my adult life and have many friends with planes. Some have bought them, flew the hell out of them and sold for a small profit. That is the exception. Expensive to maintain,hanger, and fill with fuel. Get your PP before jumping into the aviation financial tunnel of despair.

When I want to go fly small, I rent. I have seen friends lose insane amounts of money. Unless you are very comfortable, I would discourage it. (ownership)

Rent----Rent---Rent.

[BMCSean]

Unless it's an A-10 I would pass, guns go up in value so you should buy a gun with a plane built around it.