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Annual cost of ownership

SPX

Well Known Member
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I?m looking at buying a 6A or 9A. I am guessing on the following annual costs. Thoughts, or additions?

* Hangar
* Insurance ($1000/year)
* Maintenance ($50/Flight hour .. using an A&P)
* Misc subscriptions/database ($300/year)
* Condition inspection ($2000)

Basically flying 50 hours per year, I assume will cost me around $100/hour ?all in,? hangar excepted. So, critique away!
 
I?m looking at buying a 6A or 9A. I am guessing on the following annual costs. Thoughts, or additions?

* Hangar
* Insurance ($1000/year)
* Maintenance ($50/Flight hour .. using an A&P)
* Misc subscriptions/database ($300/year)
* Condition inspection ($2000)

Basically flying 50 hours per year, I assume will cost me around $100/hour ?all in,? hangar excepted. So, critique away!

Only you know your level of expertise and skillset when it comes to maintenance and inspections, BUT...part of the appeal of EAB is that *anyone* can do any work on them, and you only need the A&P for signing off on the annual CI. If you're reasonably good with your hands, and can follow written directions, and can learn what you don't know from someone who does, there's no reason for such high maintenance and annual costs.
 
I?m looking at buying a 6A or 9A. I am guessing on the following annual costs. Thoughts, or additions?

* Hangar
* Insurance ($1000/year)
* Maintenance ($50/Flight hour .. using an A&P)
* Misc subscriptions/database ($300/year)
* Condition inspection ($2000)

Basically flying 50 hours per year, I assume will cost me around $100/hour ?all in,? hangar excepted. So, critique away!

Hanger 160-250-450 (all quotes I received or have paid in AZ and WA)
Insurance $1300/yr Gallagher
Maint (2-3K (new alternator, tires, brakes)
Hourly fuel $40-50 plus 1 gt of oil every 3-4 hours
Oil Changes every 50 hours ($120ish plus 2 hours of my time)
Foreflight sub
Conditional $800 owner assisted.
Worth every penny!
 
I've got a friend who has a very detailed spreadsheet estimating cost of ownership. It's set up to show cost to own vs rent a 172, but all the fields are adjustable so it can be used for any aircraft. Shoot me a PM if you would like to check it out.
 
I think it all comes down to how much you’re willing to DIY versus just handing things off to a paid mechanic/technician.

The total cost can double if you’re planning to pay someone to do everything. I have a buddy who owns a 172xp and his all-in hourly cost is probably $200/hr. He doesn’t “shop” for anything. He just does what’s most convenient. The closest he gets to working on the plane is checking the oil. He buys his gas at a 25% premium from the local FBO fuel truck instead of incorporating a self-serve fuel stop at a nearby airport.

To each, his own. I derive a fair bit of enjoyment and satisfaction in maintaining my own vehicles. I can replace the brake linings on my RV for about $20 or I can drop it off at the local A&P and pay $200.

This question reminds me of a recurring discussion I have with my Realtor brother... How much does it cost to paint a bedroom? For some, it’s a weekend afternoon and a $50 gallon of paint from Sherwin Williams. For others, it involves hiring a contractor and parting with $500.
 
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I see that you are in San Diego. Don't forget to include your annual tax payment to your local governmental entities -- it can be @ 1% of the assessed valuation....and they tell you how much they think your aircraft is worth. :eek:
 
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I tell customers and friends to budget $1000 per month to own, hangar and operate a basic single engine airplane. Then add in for payment and taxes where applicable.

Hangar $400. $4800yr
Insurance $100. $1200yr. Lower in latter yrs
Fuel based on 50 hrs per yr. $190. $2280yr at $4.50/gal and 10gph
Oil $10 one qt per month
Condition inspection $100. $1200/yr
Maint/upgrades $200. $2400/yr

This is based on no payments on the plane and no taxes in Texas. A $50000 plane will cost you $1000/mo for 60 months and taxes are whatever you have to pay.

Flying is not cheap.
 
Minimum cost

My cost is very low. My 6A stays on the ramp for $50/month. (I triple cover the canopy.) I insure for liability and ramp damage only and I do my own condition inspections. That's 600 for parking, 600 for insurance and, say, 300 for CI. I spend about 500 for data. That's $2000/year excluding major replacements. There are definitely disadvantages to this approach, but saving $4000/year replaces my total cost of construction in 10 years. John
 
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My cost is very low. My 6A stays on the ramp for $50/month. (I triple cover the canopy.) I insure for liability and ramp damage only and I do my own condition inspections. That's 600 for parking, 600 for insurance and, say, 300 for CI. I spend about 500 for data. That's $2000/year excluding major replacements. There are definitely disadvantages to this approach, but saving $4000/year replaces my total cost of construction in 10 years. John

Given what I pay for a hangar, I may *never* replace the cost of construction :eek:
 
My O-360 powered RV7 all in cost is $100 C per flight hour ( I keep a detailed spreadsheet on costs) based on 120-150 hrs per year. In Canada we can do our own annuals and mtc including signoffs, which I do. My RV4 with the O-320 was slightly less at about $93 C/hr over 4 yrs and 450 hrs total.
 
low end

I purchased the hangar 10 yrs ago. Now it's paid.

The past 6 years my total cost for maint including mag service = $2500 for 750 flight hrs. Not including oil changes.

Insurance $990 per year.

Garmin pilot = $150 per year total for three Nexus 7. Reliability? that's why I have three.

Update AVMap once a year = $40. Very reliable.

I stopped updating the Garmin 510 because it was a million dollars for the update. Airports don't move much over time.

edit.... and $1200 per year for airport land lease.
 
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I get asked this question a fair bit. I answer......how long is a piece of string?
It's far more expensive to own a plane down under than over there in the lucky country (USA) everything here is very expensive.
For me my 8 costs me approx $AU145 a week not to fly it! Works out around $220 per HR flown 1 HR per week which is about what I do.

Why do I spend so much? Cause that RV smile you can't put a price on:)
 
I keep a spreadsheet tracking all of my fuel purchases. Over the 5 years I've been flying my average cost of gas per hour has been around $27 ($4.50/gal at 6gph). This is averaging around 140 hours of flying per year.
Annual maintenance includes 4 oil changes per year at around $100 per change. A couple of new tires, brake pads, batteries and other annual wear and tear items expense-wise, has not been very substantial.
My hangar rent is probably my biggest expense at $475 per month.
Taxes and insurance are another $1600 per year.
All total, it is around $1000/month to fly when I want to.

Having the airplane available to whisk me and the wife up to LA/OC in 35 minutes to visit family, or out to visit our kid in Colorado, Utah and now Missouri is a LOT less expense and hassle than driving or flying commercial.
 
I don?t track anything but tell my wife that it costs about $50 a month. Been working now for 20 years.
 
When other people ask how much an airplane costs own and fly, I usually answer "How much you got?"
 
$5000

Cost for totally unnecessary upgrades to stuff that on a certified plane would never get upgraded cause the cost of parts and an A&P would make it undoable

$5000

In the last 24 months
- New dual PMAGS
- upgraded EFIS to touch screens
- remote ADSB (well that was a lot cheaper than if it was certified)

Next 12 months
- Smoke !!!
 
Flying is not cheap.

It’s all relative, I suppose. For work, the airplane that I fly has an annual budget of $3,200,000. So, I just wanted to be sure that my guesstimate of $12,000 per year all in (based on $400/month hangar) was accurate. Sounds like it is.

$3.2m sure gives some perspective, huh? ;-)
 
Some of you guys just need to move to a state with a horrible reputation for quality of life. ;-) What some of you are quoting for hangar rent would get you a nice hangar, *and* a really nice, large house, on a nice private strip. The rep keeps the masses (and taxes) away, and the RV keeps the fun stuff in easy reach.

And I've never paid over $200 for an annual inspection (I do the actual maintenance).
 
I don?t track anything but tell my wife that it costs about $50 a month. Been working now for 20 years.
Oh good, I thought I was the only one here who doesn?t track what it costs to own/fly my RV... don?t know, don?t care. Sweet!
 
It’s all relative, I suppose. For work, the airplane that I fly has an annual budget of $3,200,000. So, I just wanted to be sure that my guesstimate of $12,000 per year all in (based on $400/month hangar) was accurate. Sounds like it is.

$3.2m sure gives some perspective, huh? ;-)


What kind of plane for work? Just Curious. I used to fly a CE-680.
 
I don?t track anything but tell my wife that it costs about $50 a month. Been working now for 20 years.

That's beautiful, I love it👍 I went one step further, I removed the problem completely, I sold the wife and have been freer than I have ever been and I don't ever have to leave the ground to feel free!:D
 
I get depressed when I start reading this stuff. If you start thinking about all the "stuff" we buy for our planes it gets a bit depressing. I love my -7 and I keep investing in it. Not because I have but because I want to. If I broke down every single item I purchased for my plane I would go nuts :confused:
I like the "Fat, Dumb, & Happy method of ownership" policy :D

In all seriousness, I have broken down hourly cost and if you travel around the country, fly often (more than 100 hr/yr) then an RV is one of the best cost / mile mode of transportation you are going to find. But you may have higher medical bills to get the pain in your jaw checked out because of the constant RV Grin that you will experience throughout the years :D
 
My 7A cost $272.92/month before I fly which is insurance and hanger rent. I do my own annuals. I had a Cessna 152 for 10 years before the 7A and it cost me about the same. The largest single cost change was hanger rent. When I first acquired my hanger it was $1500/year for a long time. Then the city gurus decided to start increasing it. Now it's 2300/year. They did do lots of repairs and maintenance including putting in power and lights. I think it was worth it. Ramp fees at my airport are $50 a month. So here's what I do... If I were to have the Aircraft on the ramp it would cost $600 a year so I subtract that from the hanger rent total which gives me a difference of $1700. I think that's extremely reasonable.
 
RV + Club

My -3 has been as inexpensive as it is impractical, which is why I'm joining a club with an A36, C182 and RV7.

Shade Hangar $110/month
Insurance $875/year
Condition Inspection $100-$300/year
Random upgrades (average after 8 years of ownership) $500/year
Fuel+Oil+Engine Overhaul fund $40/hr

So assuming 75 hours a year im all in for $80/hr. I don't track costs because if it varies +- 30% it wont matter anyway.

When I want to take passengers I'll fly the club planes at $100/month plus rental rates.

I will say that flying became a bargain after I started paying $2k/month for daycare!
 
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well you guys all omitted or forgot a couple things:
- depreciation of the airplane’s value in line with the hours flown, e.g. I would normally pay less for a 3K hours airframe vs a 300 one
- depreciation of the next higher value, the engine. Assuming all is good and it’s making TBO and more...
- prop, governor or mags on TBO anyone?
- depreciation of the instrument panel contents, leaps in technology happen fast

Means you will never know how much the hourly or annual cost is or was until having sold that aircraft. Only then you can run the building or buying totals against the sale price, add all the expenses incured during that time frame and divide by the hours flown or the chosen time frame.

Any takers :eek:
 
Cant put a cost on mine..

My cost is something I don't really factor, but as the builder and also an AP/IA, I fix whats broke and inspect whats needed. My hangar is $300 a month, its 32'X48' and allows me to do more than just store my plane. My wife LOVES our -4, we got married in it, and I doubt we will ever say good bye to it. There are many ways to mitigate the cost of RV ownership as others have mentioned, just be being engaged in this wonderful website and making RV friends that have had similar challenges, and resolutions. Share a hangar, find a good RV mechanic that will help you maintain it...they are not "needy" airframes if built right.
 
Oh good, I thought I was the only one here who doesn?t track what it costs to own/fly my RV... don?t know, don?t care. Sweet!

Me too! I'm "afraid" to know exactly how much it's costing, so I don't keep track. But it doesn't matter, I'm enjoying it immensely. I've never done anything else in life that has given me this much satisfaction and enjoyment.

And if you fly a lot, the cost of ownership vs. renting (per hour of flying) goes down very quickly. Plus nothing beats having your own plane and the freedom to fly anytime, anywhere for as long as you want. And you cannot rent a production aircraft that is even close to as fun to fly as an RV. My RV grin is as big now (probably bigger) as when I first brought the plane home 3 years ago. :D
 
It's like fishing.

Don't try to justify it. Don't try to quantify it. Don't worry about it. Just do it.
 
It's like fishing.

Don't try to justify it. Don't try to quantify it. Don't worry about it. Just do it.

funny story that somewhat relates...one day I was in the grocery store when my wife commented on how expensive walleye was and how glad she is we can just catch ours. I reaaaly don't want to know how much per pound my fishing hobby costs me but trust me it'd be probably at least double the grocery store price for what we eat, I didn't let her know that :rolleyes:

Just as much, I don't care to know how much my flying costs per hour or year. I obviously have a rough idea what I spend each year, and am able to afford it. I do both of them for enjoyment and figuring out the money that's burned on them for recreation is just a downer.
 
I have roughly the same response when people ask me how much it cost to build my airplane. I just smile and say "Dunno, I didn't track it."

Sure I've got a rough ballpark, within about $15k of reality, but I knew I wasn't going to someday get to a certain dollar value and say "Nope, that's it, too expensive, I quit" and sell the project - once I was in, I was in all the way. So in that case there's really no point in obsessing over the cost of fishing. Shut up and get in, we're going fishing.
 
In response to the numerous posts saying basically, 'I don't care what it costs':

The OP asked a reasonable question; similar to the ones I asked myself when I started flying, and have continued to ask myself over almost 30 years of flying. Not to wax too 'biblical', but I think there's a parable saying something to the effect of, 'only a fool starts to build, without first counting the cost'.

It's really nice when one is in the position of *not needing* to count the cost, but it's not so nice if we're looking down on those who must. Just something to think about....

Charlie
 
The OP didn't ask what it costs to build - he's buying one, he already knows the cost.

But now that we've got all the virtue-signaling out of the way, we can get back on topic.
 
1st, the post wasn't directed at you; yours just happened to be above mine. You can't stretch a parable to bigger, wider things? That's the point of a parable, after all. I think the original parable was about a tower. Making the stretch to 'airplane' wasn't that hard. Now consider the possibility that one has the purchase price, and enough income to buy gas plus a bit more. *How much more?*

When I started flying, I counted every cost. While I don't police every dollar now, I do make sure that I'm not spending money my family needs for essentials. He asked what it costs to own one; not whether it's any burden on you or me to own one. He may not have any financial limitations, but others do.
 
In response to the numerous posts saying basically, 'I don't care what it costs':

The OP asked a reasonable question; similar to the ones I asked myself when I started flying, and have continued to ask myself over almost 30 years of flying. Not to wax too 'biblical', but I think there's a parable saying something to the effect of, 'only a fool starts to build, without first counting the cost'.

It's really nice when one is in the position of *not needing* to count the cost, but it's not so nice if we're looking down on those who must. Just something to think about....

Charlie

I agree that any potential airplane owner needs to seriously consider the costs and if it fits in his/her budget. For me, I'm pretty sure my build came in below average $$$ due to my budget; this caused me to choose a relatively inexpensive panel, and choosing polish over paint. It's certainly not that I have unlimited resources or don't have to think about it.

My point in posting that I don't actively track expenses is that flying our planes is an inherently expensive recreational hobby and at least for me it takes some of the enjoyment out of it to total it down to the penny. As for hourly I'm sure I've had years where I flew a bunch and it was under $75 and years where it was over $150; I wouldn't consider plane ownership prudent if similar swings would cut into necessary household expenses.
 
Owning

If you "own" you'll fly. If you rent, you won't.

Lots of calculations and analysis says, unless you fly 100 hours a year, renting is cheaper. But that doesn't include psychological benefits. Like others have said, if it is your hobby, just make it happen. It is cheaper than membership at a private golf club.
 
For every golf shot I take in a year all in is about $0.76 and I'm actually pretty good at it.
That's another reason I don't track hobby costs as there is no justification. Beats sitting on the couch saving.
 
49clipper

RV-6 with O-320. All in including second class medical is $47.88/hr for 80 hrs this last year. change oil every 30 hrs even though have filter. Do my own work and inspections. No upgrades in the last several years. Cheapest flying you will ever do. $0.00 hangar as I have my own on my grass strip.
Jim
AP/IA/CFI.
 
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