Is it cheaper to own your own plane?

Plane owners can save some money by doing the maintenance themselves, hunting for the best insurance quote, and storing their plane at the cheapest airport. But there’s no denying it: owning your own plane will cost you more money than renting.

Why is owning a plane so expensive?

Purchase price Airplanes are times more complex than cars. The price of an aircraft is not bound solely to its design. Even though not luxurious as an A380, general aviation planes are still expensive because they must also be reliable. You can’t just build an aircraft and start selling it.

Is owning an airplane worth it?

It really depends on what kind of flying you like to do and how much you want to fly, plus how much enjoyment you’ll get out of “pride of ownership.” If you like to go on long trips or want/need a plane that’s not something you can rent (like a twin, experimental, etc.) then yes, owning is worth it.

How far can you go in a small plane?

Small planes can get anywhere from 500 nautical miles to upwards of 1500 nautical miles depending on fuel load and optional tank configuration. But the middle of that range seems to be the average. I have found that range is more dependent on how long you can sit in the plane not now much gas you can carry.

How much does it cost to keep a plane in a hangar?

You’ll need to store your plane at an airport in a hangar or outdoors. Outdoor storage is typically cheaper than hangars and other covered spaces. Urban airports typically charge more than rural airports. The average hangar cost is $275 per month, plus $100 for tiedown gear.

How much is a 10 person private jet?

Aircraft details and sample pricing.

	Passenger Capacity	Hourly Rate
Midsize	6 – 8	$3,100 – $4,100
Super Midsize	8 – 10	$4,400 – $4,600
Large	9 – 19	$5,100 – $7,000
Ultra Long Range	10 – 19	$7,500 – $12,000

How much does a 12 seater plane cost?

A 12-seat Challenger 601 could cost approximately $48,000. As these examples show, the best value aircraft is different for each particular journey.

Is buying a plane a good investment?

One of the more financially beneficial reasons to invest in an aircraft is the fact that unlike most other forms of transportation, airplanes, helicopters and jets can actually appreciate in value, rather than decrease over time.

How much does it cost to store a small plane?

Urban airports typically charge more than comparable rural airports. Meanwhile, the average hangar cost is $275 per month, plus $100 for tiedown gear. Incidentally, residential storage is rarely available to the average small plane owner. If you finance an aircraft, it’s essential to budget for monthly payments.

What are the basic maintenance costs of an aircraft?

According to the Aircraft Owners and Pilot Association, there are a few fundamental maintenance costs that every owner must pay attention to such as fuel, oil, engine reserves/overhaul and landing fees.

What are the costs of buying an airplane?

The sum of loan payments, insurance, hangar, and inspection/maintenance make up your annual fixed costs – the price of owning and maintaining an airworthy airplane without getting to do any flying. Other incidental costs that you might want to consider in this category are registration fees, relevant sales taxes related to the acquisition]

How much does it cost to fly 50 hours a year?

You’ll use at least 5 gallons an hour, resulting in a $25/hour flight cost (again, this is a minimum). So, all in, if you fly 50 hours in a year then you’re probably looking at maintenance costs of $5,000 per annum.