Pros and cons to owning a plane vs renting one?
Posted by LushieTwink@reddit | flying | View on Reddit | 41 comments
I’m looking to buy a 172 or similar 4 seater to finish my PPL training in and then just fly around for recreational use. Like for short trips around California and some neighbouring states.
I’m trying to brainstorm a list of what are all of the pros and cons of owning a plane vs renting one. From those with experience of owning a plane, what would some of those be?
JSTootell@reddit
Pro:
Thinking about the fixed costs forces you to fly more. That way the number looks smaller against the flight hours 😂
I should be renting, I'm probably breaking even (first year of ownership). But I would fly less if I had to see what I was spending per hour every time I flew vs every month with hangar fees, at the pump, and when an "oh shit" happens.
Oregon-Pilot@reddit
The old timer Captains' triple F proverb:
If it flies, floats, or fucks - rent it
Do they follow this? Absolutely not. But it remains an important guide for us all nonetheless.
JSTootell@reddit
As a former sailor (paid professional), divorcé, and now plane owner...
I'm not too smart 😂
NevadaCFI@reddit
Mine costs me about $1100/mo before I start the engine which covers basic annual, hangar, insurance and taxes. Be sure you can put $15-20K a year into ownership and flying.
FeatherMeLightly@reddit
If your not prepared to hand over 10,000.00 USD any given week, aircraft ownership is not for you in this market.
skylaneguy@reddit
Eh most engine shops are turning engines around in 3-4 months right now!
iamflyipilot@reddit
But then you still need to find a shop to pull your engine ship it and reinstall it. Depending on your area and the shop availability that could take another 3 to 4 months easily.
skylaneguy@reddit
Up in the northeast it was almost day of notice on mine… but yea definitley location dependent.
Salt-Cold1056@reddit
If you can afford a 172 can you afford a 182? I love exploration flying out west (Based in Oregon). The thing that will happen quickly is that a 172 is actually a 2 seater and not a very powerful one once Density Altitude comes into play at all. Great training plane but maybe not one I would purchase. Flight clubs are another good option especially if your annual usage is more like 50 hours than 200 hours. The only way plane ownership is not a pure luxury on top of the luxury of doing this at all is if you fly it a lot.
skylaneguy@reddit
A nice 172 is $125k vs a 182 in similar condition is $225-$250k.
Beyond the acquisition costs an engine OH is about $20k more, prop OHs are more, add a governor to the list of mx items, and you’re burning about 5gal/hr. more.
Bottom line is hourly ownership on a 172 for 100hrs/year is in the $90-$110/hr range. I would venture to say my 182 is closer to $225/hr.
That’s a pretty stiff jump in expense to go from the chicken to the Lane but I think it’s worth it for the sake of capability and long term use.
thestork7@reddit
I bought a plane in November and it's had four separate issues so far. Each one has taken 2 weeks to resolve, except for the current issue which has grounded me for 3 months (and forced me to cancel my PPL checkride). None of these things came up on the pre-buy.
On the bright side, my gas cost is only about $30/hr vs $160/hr renting. Even with all of the maintenance costs, I think it's been cheaper to own. The biggest drawback for me has been the time lost, as I'm trying to get all of my ratings.
skylaneguy@reddit
Lucky!
My airplane hasn’t flown since November and I don’t foresee having it back until August or September. 😭
Icy_Huckleberry_8049@reddit
this was just discussed in detail just last week
Go back and read some previous posts
thatTheSenateGuy@reddit
Con… Unexpected costs, you have to be prepared (mentally and financially) to drop 10s of AMUs if a major issue with airframe structure or engine comes up.
Pro… the ability to leave whenever you want for however long you want is fantastic.
RyzOnReddit@reddit
Costs in both money and time - for a rental, someone else manages maintenance, cleaning, insurance, hangar/tie down lease, etc. You own the plane, you get to learn all of that!
goonsquad4357@reddit
“Cleaning” meanwhile there was a dirty sock in the back of the flight school planes sitting there on a nice hot summer day lol
randytc18@reddit
For rental you mention cleaning. Ha. Never once have I crawled in a freshly cleaned rental. I'm sure they charged for it though.
skylaneguy@reddit
Only 10? Any surprise airframe issue has cost me at least 20 AMUs!
thatTheSenateGuy@reddit
Same here… I guess I think of “10s” as any low two digit number. So my own 30k repair is included.
pudding7@reddit
If it flies, fucks, or floats....
Designer_Solid4271@reddit
Con - certified airplanes are super challenging, even a 172. Hopefully the pro of MOSAIC will help with that on experimental...
CaptMcMooney@reddit
it's expensive but WORTH IT, haven't flown airlines except going international in 5 years.
the ability to fly when and where you want on your schedule, priceless.
vegas/tahoe/phoenix become day trips, awesome.
before you buy find a place to keep it, hangar availability is almost non existent but being in cal, you might be able to just keep it on tie down.
poisonandtheremedy@reddit
Feel free to message me any questions. I bought my PA28 while still a Student and by the time I sell it (this summer) it will have gotten 4-ratings for my wife and I. (PPL, IR, CPL & PPL).
I absolutely love having my own plane.
Slick-62@reddit
As a hobby pilot I was looking to not have to compete with everyone else for limited resources, especially working around weather.
A first time buyer, it was unbelievably stressful. My mission is similar, light, 4-place single to carry 2 and bags.
I’m retired and my budget (and insurance and basic medical) allowed for a solid plane with a decent dash. After shopping Cherokees, Sundowners, and 172s, ended up with a fixed gear Cardinal. A local student (PA) recently bought a Cardinal in CA and flew it back with his cfi. There are maybe 8 local, they’re not uncommon.
The local school that I’d rent from is a 61 so the renting process is simple, but competing with students and the weather make it easy to go a long time between flying days.
I got a great plane. The first annual was $7k+ to catch up from things the previous owner and his mechanic didn’t think were worth repairing/replacing. My IA took his crack at it. So, $7k later… I know the engine could crater on the next crank, but oil analysis says it’s doing well so there’s some comfort in that. Well, I’ve also upgraded the AP and lights so there’s big $ there.
The local rentals are at a field 10 minutes from home (when I can get in between wx and students). Of course getting immediate hangar space meant driving 40 minutes to the next field, but I’ll happily take it.
When the wx is good I plan something, drive a bit, preflight, pull it out and go flying. It’s great.
skylaneguy@reddit
If you’re prepared to replace a wing spar, an engine, and fuel bladders in the first year to the tune of $100k then ownership is for you!
…and I got a prebuy. Not a very good one though.
ExpensiveCategory854@reddit
Who’d you go through so I can avoid them?
skylaneguy@reddit
They may or may not be out of Indianapolis.
ExpensiveCategory854@reddit
Thanks!
cessna120@reddit
Pros: The expensive parts of ownership for me are fixed costs, which means any given flight only costs me gas money. That makes it far more attractive to go fly wherever, whenever. The 15 minute hop to get breakfast with a friend "only" costs me like $30. Try that in a rental, it'll be a $250 flight which means you're not gonna do it much. I do it every couple weeks. I'm on nobody's timeline, so the plane gets home when I feel like it, and taking an extra day to get back doesnt cost me an extra 3.0 minimum on the Hobbs. Everything is where I left it, nothing gets trashed, my seat is always adjusted right, the plane doesnt smell like rancid student because I actually clean it. I fly an RV, and there are almost no rental aircraft out there that'll match my speed, certainly not at anything close to my costs.
Downsides: I pay all the costs. Can't amortize it across multiple people and only pay my share. Last year I spent $50,000 on an engine overhaul. It was planned for, I knew it was coming soon and had the money set aside, but it still hurt writing that check. When my plane is down, I'm grounded, I dont have a fleet to choose from while mine gets fixed. I spend a ton of time on maintenance, as mine is experimental and I do 90% of the work. Keeps my labor cost down but I put it a shitload of time for it.
On the whole, the pros massively outweigh the cons, and I have zero interest in going back to renting.
druuuval@reddit
“Doesn’t smell like rancid student” is probably my favorite thing I’ve read today. Flying over here in Florida, the struggle is real. We’re already getting way too hot and the stress sweats from kids doing steep turns is in full effect.
cptnpiccard@reddit
What about CPL candidates doing power off 180s?
druuuval@reddit
I was trying not to tell on myself but yeah… it’s a bad mix of body spray and desperation.
ChiFxxd@reddit
Have 20% of the airplane’s value in reserves. Do as much owner maintenance as you can. I was able to use my employer’s hangar to complete oil changes and minor things. Do a few extra things at every annual (replace windscreen, install LED lights, address corrosion, etc). My Cherokee 140 cost me about $22-25k in fixed costs every year (but I flew it 250 hours a year as a time builder).
butiamnotadoc@reddit
Think boat on steroids. Fixed expenses and squawks. And there will be squawks with the type of purchase it sounds like you are contemplating One minor surprise, the miscellaneous equipment inspections and subscriptions since you are going to presumably train IFR eventually. But it’s yours, you come to know it well, you fly it when you want to, and it’s not a rental car unless you want it to be. Time building and adventure if you can afford it.
Shit-Pilot@reddit
Buying my first airplane was a bit scary, I remember asking myself if I’d made a big mistake but looking back now I’d do it again in a heartbeat. I love the flexibility of owning my own airplane. I take it all over the place and don’t have to worry about stupid restrictions that rentals have on them. I dumped a bunch of money into it over the years upgrading this and that and don’t even think about the cost anymore. If you use it, it’s worth it.
Don’t necessarily limit yourself to 1975 or newer, look for one in good physical condition. A 50’s 172 that has been taken care of can be in better condition than a 2000’s wore out flight school airplane. I would suggest staying away from the Continental powered 172’s, they are a bit underpowered but some of the older ones with upgraded engines are super nice airplanes.
Perfect_Insurance_26@reddit
Buy a 1956 172 instead.
Thrway36789@reddit
I feel like flying clubs are a nice middle ground between the freedom of owning while mitigating the financial risk. My last club had a plane that was always available because it was a 160hp 172. Still got me and the wife from a to b safely.
Partnerships are also a good way to mitigate the financial risk. It’s all definitely a trade off but there are options between renting from the flight school and outright owning.
unable_compliance@reddit
The age old proverb of all multiple divorced airline captains - “if it floats, fucks or flies- rent it”
YugeWaterBottle@reddit
Pros: not sharing
Cons: money
Fancy_Equal_7776@reddit
Pro: freedom/availability. Con: financial risk.
Not sure its any more complicated than that.
rFlyingTower@reddit
This is a copy of the original post body for posterity:
I’m looking to buy a 172 or similar 4 seater to finish my PPL training in and then just fly around for recreational use. Like for short trips around California and some neighbouring states.
I’m trying to brainstorm a list of what are all of the pros and cons of owning a plane vs renting one. From those with experience of owning a plane, what would some of those be?
Please downvote this comment until it collapses.
Questions about this comment? Please see this wiki post before contacting the mods.
I am a bot, and this action was performed automatically. If you have any questions, please contact the mods of this subreddit.