buying a plane....

buying a plane....

IVE BEEN TALKING TO LOTS OF PEOPLE ABOUT BUYING A PLANE TO FINISH MY FLIGHT TRAINING, CURRENTLY JUST ABOUT TO FINISH MY INSTRUMENT AND PLAN ON GOING ALL THE WAY TO MY CFI'S. SO FROM ANYONE'S PAST EXPERIANCES WHICH WOULD BE A CHEAPER ROUTE  RENTING OR BUYING?????THANKS

mike mcghee
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Re: buying a plane....

well it really depends. I am almost ready to have a check ride. I have had a plane since April. I have kept real good track of what it costs, and except for the initial cost, sales tax to the tune of 9,000, and insurance of 8,700. It almost is a break even. I am probably getting in more hours, because the "cost" isn't as obvious, only when I have to make the payment. My plane is on lease back, so there are the 50 hours and 100 hours that come around real fast, and the flight school probably charges more than an independant mechanic. they also don't get me paid until the end of the month and then I am the one with the short cash flow as they are using my money all month.  any more questions? MD

Martha Davis
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Re: buying a plane....

WOW...$8,700 for insurance.  Are you flyin an 8 seat turbine?
My insurance for a 172 SP (120hr private pilot..non instrument)
is just over $1,500.00 per year.  Either you are a pilot
of a very serious aircraft or...you need to check out insurance
thru AOPA.

MOX
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