The cost of ownership isnt cheap,however the cost of rental isnt much better,Id suggest you weigh the plans you have,and follow youre instinct.
IF you havent gotten youre License yet,youre staring at some big costs to rent,at my FBO(Douglas Aviation at OLV) 152 rental is 68.00 per hour,add a 2.00 per hour sur-charge for fuel,and then 25.00 for an instructor,and youre looking at burning a 100 dollar bill per instructional hour.
I bought my 150 for 3500.00,and after restoring it,the wife and I are into it for about 14000.00,and are fixing to drop another 7000.00 or so for a major this fall.
I have good connections in the aviation marketplace,and it would have cost a ton more If Id paid normal retail for all the stuff Ive bought for the plane.
You must also think about Insurance,a 150 is cheap to insure(relatively speaking) Im paying about 650.00 per year.
I will say this ill NEVER fly another rental plane again.......
<HTML>WELL I HAVE TO SAY THAT AIRCRAFT OWNERSHIP IS INDEED EXSPENSIVE
BUT THE PEACE OF MIND IS ALL WORTH IT.I'VE HAD MY 1965 172 FOR TWO
YEARS NOW AND YES I HAVE INDEED PUT A LOT OF MONEY INTO IT BUT
ONLY BY CHOICE.I REMEMBER RENTING AND SAYING TO MY SELF LOOK
@ HOW THIS PLANE IS KEPT UP YOU NEVER KNOW HOW THE OTHER PERSON TREATED THE PLANE AND YOU HAVE TO JUMP IN AND JUST FLY AWAY.WELL I DID'NT LIKE THAT AND BESIDES I WANTED TO OWN MY OWN.IF YOU CAN I WOULD SUGGEST YOU PAY CASH FOR YOUR PLANE
IF YOU CAN, IT'S NICE TO KNOW I OWN MY PLANE AND INSURANCE
ONLY RUNS 680$ A YEAR FOR FULL HULL.I HANGER MY PLANE AND IT RUNS ME 150$ A MONTH .THE POINT IS YOU CAN OWN AN AIR PLANE
JUST DO YOUR HOME WORK BEFORE YOU BUY .GOOD LUCK!</HTML>
<HTML>Used airplanes can be either a headache or a bargain or a darn good investment that will outperform the stock market. If you buy an airplane because it's cheaply priced, then you're getting one of the headaches. It's either not a desireable model, or it's a maintenance headache because it's got hidden damage or has been abused and not cared for.
My advice for a first time plane owner: Buy a popular model that's at least 10 years old, and not older than 25 years. A Cessna 150/152, or a 172. Or a Piper Cherokee 160/160/180, Archer, etc. Stay away from odd models and quirky airplanes like Piper Tomahawks and Cessna Cardinals and Cessna 175's. By purchasing a model that is a good clean example of a popular model with at least half it's engine time remaining, and paying a fair price for it, and if you care for it properly, within a few short years you will sell it for 25% more than you paid for it and will have flown it for free. Only Blue Chip stocks will normally do that well.</HTML>
<HTML>As some examples:
In 1980 I bought an Aeroca Chief (not a particularly popular model, but one that at least has a following). I flew it for 3 years and doubled my money on it when I sold it. I next bought a Cessna 206, flew it 6 years, put 600 hours on it, and sold it for over twice what I paid for it to the first caller, a large corporation. I next bought a Beech Baron, flew it 3 years and made almost $120K on leasing income, and sold it for $20K more than I paid for it. I own a classic Cessna 170B and have turned down offers of $10K-$22K more than I paid for it in the first two years of ownership. Every one of these airplanes were excellent examples in very good to excellent mechanical/cosmetics condition. Unless you are a mechanic with a lot of time and talent, you will not be able to take a "project" airplane and come out OK on it. You will only help a mechanic earn his living if you buy such a project thinking you're going to fix it up and sell it, unless you have the time and talents to do the work yourself. So,...buy a popular model in very good or better condition and take care of it, keep it a few years, and then when you sell it you will find that you not only made a good return on your investment, but you'll eventually come to regret selling it! ;Þ</HTML>
<HTML>Also consider a partnership. We own a 182 outright, and split costs 3 ways. It really keeps the cost of flying reasonable. We each pay $120 per month to cover hanger, insurance and annual regardless if you fly or not. Then we pay $75 for each hour of flight. The $75 covers fuel, escrow for engine, and another escrow we call "Murphy".
We've never had a conflict with scheduling, we have a go anywhere airplane and I know exactly who flew it last if there is a squawk. We all pitch in at annual to keep costs down and meet regualrly to discuss upgrades, maintenance issues etc.
I've also partnered in a 150, the partnership was different people but was just as good only cheaper per hour. The monthly cost was pretty much the same. I've also sold every aircraft I've owned for a substantial profit.
Talk to the mechanics at your home field, do they work on a particular type aircraft more frequently, then they don't have to spend a great deal of time figuring out how to solve your problem. If you buy a unique airplane, you'll have unique problems.</HTML>
I read the suggestion George Horn gave you, it was good. I would like to add a little insight. George said you should not buy a C-175, that is sound advice for the GO-300 engine can be a major headache and expense if not flown correctly and for that reason has given the 175 a bad name. The truth is the 175 is really a 172 airframe with a different engine. If you plan on keeping the airplane for awhile a 175 with an engine conversion to the franklin or Lycoming can be a really good buy. (The 175 name lowers the price even though with the conversion it becomes no different than a 172 with the same conversion) I've owned two 172's and now own a 175 with the 220 Franklin conversion, I could not be happier and this plane is now my keeper. It performs like a small 182 for a lot less. By the way, I have to struggle to own a plane, but I also like to fly and if you put a 100 hours or more on a plane a year I feel it pays to own. I do as much of my own maintenence as legal and have a plane that I am proud of and is far above what I could rent.
<HTML>We have ten of us owning a 1975 Cessna 172 and I've been doing the book-keeping on it for a couple of years.
The last few years we've only put on 50 to 150 hours per year.
Based on real-life costs I've put together estimates for flying our aeroplane for 100, 150, 300 and 500 hours per year. It is quite detailed. You can review them at this web address:
http://www.msacomputer.com/fvfc/treasur … Costs.html
I have been exceptionally happy with our 10 person club. Booking conflicts are rare and it is highly affordable for my moderate income. I think the modern word for it is "fractional ownership" except we really do treat it as a club and we have "club spirit".
Please note that all of our costs are stated in Canadian dollars so reduce them by 1/3 and you'll have U.S. dollars. (Can$1.50 = US$1.00)
<HTML>Larry, you have a valid point, in that the 175 airframe itself has no particular problems that other single Cessna's of similar vintage don't also have. But the advice I give about staying away from 175's is advice I'm comfortable in giving. Even tho' a good 175 with a good conversion engine in it makes a good airplane, ...like all conversions they do not compete well against stock airplanes in similar condition. This hurts them in the re-sale market. A stock 182, and a "souped up" 175 may perform similarly performance wise, but financially the 182 has a larger market with greater appreciation and better return on investment. For those reasons I advise against a 175, even a converted 175, over any stock, similar performing Cessna aircraft.
I realize that pride-of-ownership may be a factor in your own choice, and I'm not criticising your choice,...but the fact is that a 175 has several downside factors as well. It's useful load is 185 lbs less than a 182, it's fuel capacity cannot be counted on due to 10 gals not available (according to the flight manual) in all flight attitudes. Effectively, that's another 60 lbs of dead weight that the 175 cannot use. The 182 has 170 miles more range (660 vs 490) and runs 17 mph faster, and uses 125 less distance to takeoff over a 50 ft obstacle.
The true reason a 175 interests most buyers is that it is usually much cheaper to purchase (but not maintain) than a similar 172. But that advantage is totally lost when one considers a converted 175 because the conversion alone can cost $18K-$28K, which prices it up with the 182's it claims to compete with (but doesn't).
I've partnered a '62 175 Skylark for almost 6 years, and I'm speaking from personal experience. It can be a cheap way to buy into an airplane, but it is rarely a cheap way to stay in one, and the resale value will never keep up with other Cessnas.
Just enjoy it for what it is,....a genuine Cessna!</HTML>
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