Upkeep of a personal prop plane?

Question

I was thinking of buying a used 4 seater for $40,000-$50,000 and I wanted to know what the upkeep would be for something like that?

Answer 1

It depends on your use of it. Each plane would be different, based on how many gallon per hour it burns and how much maintenance it would need annually. You can figure though, at over 3 dollars a gallon for avgas you will likely spend upwards of at least $10,000 a year on upkeep and what not. Go out to the local airport and talk to a few guys, they all know what it takes, and what it costs. Find out what they are flying and what it runs them per hour of fligth time annually. each small plane is going to be slightly different, so go chat with some guys.

Answer 2

This question has been well answered above already. I'll just add that there are a few ways to save money on your plane.
Learn to do all the maintenance you can by yourself that you are allowed by the FAR's. This is of course limited to preventive or regular upkeep like oil changes, replacing tires, etc. (If Cherokee Flyer is about, he can enumerate what you can and can't.) Find a mechanic that will allow you to do owner assisted annuals. This not only saves a lot of money but teaches you a lot about your plane. This will generally involve your just opening inspection plates, removing seats, removing the cowling and minor things like that. It may not sound like much but if you're paying a mechanic $60-90 hour to work on your plane, this grunt work can save some money. All of it obviously must be overseen by your mechanic. Try to find one like mine that has a great deal of patience and doesn't think owners get in the way (well, not all the time anyway).
Finally, a hangar is a great piece of real estate to own or rent. The trauma that it saves your plane is well worth it and it will cut your insurance a bit. If you are just now thinking about buying a plane, check your airport for the hangar waiting list. Generally, there is a wait for hangars; at my airport I think its still running 5-6 years. Put your name in now.


And to John...luv yer answers and lessons on the 3 F's but
sometimes ya just want to get into something without the last guy's debris left in it...know what I mean?

Answer 3

Boy, this one's like asking how long is a piece of rope...

It depends - if you fly alot, it will actually be better for the plane, as opposed to flying infrequently. A plane is designed to be flown, not parked.

I'd say, if you were going to fly less than 100 to 150 hours annually, it would probably behoove you to rent, versus buying. My experience shows me it takes that level of flying before you really 'break' even on the costs.

Primarily, you have fixed costs, and variable. Fixed costs are Insurance, Cost of the Annual, and Repairs. Variable costs are those associate with flying - fuel, engine allowance, avionics allowance. What I mean here, is when you fly, you have to pay for fuel. I recommend figuring an amount per hour for engine and avionics, and setting that aside in an account for when you have to replace or overhaul the engine, or when you have to repair or replace avionics, cause that will happen.. And that's not even taking into account the cost of the plane itself..

Here's a sample - on a C172, average costs

Fuel, per hour, 9 gallons, $35 hour
Engine, 2000 hour TBO, $12k overhaul, $6 hour
Avionics allowance, $3 hour

So, before buying the plane, and figuring annual, repairs, and insurance, you are at $44 per hour. If you fly say 100 hours a year, you are looking at about $30 an hour for annual and insurance (conservative estimates), so you are at $74 an hour. I can rent a 172 for $80/hour wet. So, for me, I'd have to be flying more than 100 hours a year to break even, independent of the cost of the plane itself. Make sense??

You should look at that same type of calculation, based on local costs os annuals, insurance, etc., and come up with something that fits you and your flying habits.

Hope that helps...

Answer 4

I keep saying it but nobody seems to be listening. I've owned airplanes, sailboats and been married twice. From those experiences, I've developed the three "F" rules of male financial stability. Here they are once again. If it flys, floats or fornicates, RENT IT.

Answer 5

There's an old saw about yachts:
"If you have to ask, you can't afford it."
Applys to light planes too.