Instruments for IFR training
12-12-2009, 09:27 AM
#11
Gets Weekends Off
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Joined APC: Oct 2009
Posts: 254
I have been doing some research, and you're right about the maintenance costs. You just have to do the math, and stick to your numbers. A book I bought broke down an example, it's pretty interesting.
The book is from 1999 so times and prices have changed, but here's how it goes for a Cessna 150 operated for only 100 hours annually.
Fixed costs
12 months storage $540.00
Annual taxes $200.00
Annual state registration $10.00
Insurance premium (12 months) $950.00
Annual inspection $525.00
Total fixed costs $2225.00
Operating Costs
Fuel cost per gallon X GPH $11.75
Engine reserve per hour $4.50
General maintenance per hour $6.00
Total operating costs $22.25
Hourly Costs
Total fixed costs $2225.00
Operating costs X hours flown per year (100) $2225.00
Total costs $4450.00
Total hourly cost $44.50
The only variable here is the hours you fly the aircraft. The more you fly, the cheaper it becomes. Say you fly a lot, 300 hours in one year. Your cost per hour would fall to $29.66 per hour. Compare that to the $95.00/hour your FBO wants for a 150 and you're saving yourself some serious dough. According to this, you would only have to fly approximately 29 hours per year before you were losing money owning vs. renting.
However, this book is old and fuel and maintenance prices have risen dramatically so the numbers wouldn't be quite as low. I also have an A&P license in my corner, so I could probably scratch off at least the annual or 100 hour inspection costs, possibly some of the overhaul costs if I decided to test my skills.
So, as long as you don't junk your engine or prop and you take good care of your aircraft it is pretty feasible to own. Especially if you find a good deal while the economy is low. I've heard of people turning a profit upon resale under these conditions. Plus you have the advantage of being able to fly any time you want, and with the correct ratings you can even CFI to help offset costs. It's exciting to me, I could go on all day
The book is from 1999 so times and prices have changed, but here's how it goes for a Cessna 150 operated for only 100 hours annually.
Fixed costs
12 months storage $540.00
Annual taxes $200.00
Annual state registration $10.00
Insurance premium (12 months) $950.00
Annual inspection $525.00
Total fixed costs $2225.00
Operating Costs
Fuel cost per gallon X GPH $11.75
Engine reserve per hour $4.50
General maintenance per hour $6.00
Total operating costs $22.25
Hourly Costs
Total fixed costs $2225.00
Operating costs X hours flown per year (100) $2225.00
Total costs $4450.00
Total hourly cost $44.50
The only variable here is the hours you fly the aircraft. The more you fly, the cheaper it becomes. Say you fly a lot, 300 hours in one year. Your cost per hour would fall to $29.66 per hour. Compare that to the $95.00/hour your FBO wants for a 150 and you're saving yourself some serious dough. According to this, you would only have to fly approximately 29 hours per year before you were losing money owning vs. renting.
However, this book is old and fuel and maintenance prices have risen dramatically so the numbers wouldn't be quite as low. I also have an A&P license in my corner, so I could probably scratch off at least the annual or 100 hour inspection costs, possibly some of the overhaul costs if I decided to test my skills.
So, as long as you don't junk your engine or prop and you take good care of your aircraft it is pretty feasible to own. Especially if you find a good deal while the economy is low. I've heard of people turning a profit upon resale under these conditions. Plus you have the advantage of being able to fly any time you want, and with the correct ratings you can even CFI to help offset costs. It's exciting to me, I could go on all day
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