Cost of aircraft ownership?

[Av8ta]

G'day, I'm new and only just started getting my licence underway but I'm wondering about the average cost of owning an RA registered plane. I'm very interested in purchasing an aircraft but have little knowledge of annual costs involved.

 

 

[ayavner]

here is a good place to start, pretty much shows the full range. Others can speak on insurance, hangerage, fuel costs, maintenance, divorce, etc...

 

http://www.raa.asn.au/market/

 

 

[Av8ta]

here is a good place to start, pretty much shows the full range. Others can speak on insurance, hangerage, fuel costs, maintenance, divorce, etc...http://www.raa.asn.au/market/

Thanks, but I'm more interested in the cost once I've purchased the aircraft. Ball park is good, $2000? $4000? $6000? Per year?

 

 

[rdarby]

I worked it out roughly like this. I'm in the Virgin lounge so can't find my actual numbers.

 

You need to look at fixed monthly costs, such as the hangar. Then you have hourly costs such as fuel.

 

Monthly:

 

Cost of finance. Say $300 a month for a $30k plane? I can't remember my exact figure. If you buy outright, you need to consider the lost interest on that money as a plane is a depreciating asset.

 

Hangar, say $160 a month or $40 a week.

 

Insurance, depends, my quote was about $1,500 a year.

 

Registration to RAA. I think it was a bit under $200?

 

Hourly:

 

$20 put aside for a new engine every 10 years

 

$20 an hour for fuel

 

$10 an hour for general wear and tear like oil, tyres etc.

 

Most people on this forum have indicated that you need to fly over 100 hours a year to break even. I agree with that. I have found that for me I need to be spending over $1000 a month on hire before owning costs the same, else owning is more expensive. I don't spend anywhere near that much.

 

If you can get a cheaper aircraft, and do some maintenance yourself, and if you are lucky to have land to have a hangar on, then it can be cheaper. It isn't for me.

 

But I still want one as it's convinient.

 

 

[503]

To much now I have a aero chute that fits in the corner of the shed .just add fuel and go

 

 

[Av8ta]

Thanks rdarby, It seems a whole lot cheaper than my bloody boat and when I was racing bikes. I see your point on hire vs own but where I live theirs only one plane I can hire and I'm an impatient man and don't like waiting, so I think I'll go with owning. Time to sell the boat me thinks! Thanks again for your comprehensive answer.

 

 

[Kyle Communications]

The overwhelming advantage of owning your own aircraft is I can go flying when ever I want picking whatever weather conditions I want to fly in. My costs are 400 per month for hangar and insurance that will come down 10% per year for the next 3 years so it will come back to about $310.00 per month fixed costs. The fuel I dont take into account at all as I use so much anyway in my job and off times its just a cost that everyone must pay no matter if you are going for a afternoon picknick or fish and chips down at the beach. The only other costs would be engine replacement. I dont really even consider that because 2000 hours is a hell of a lot of flying and I doubt I will ever get to those hours in my Sav it will be sold as I want to build another aircraft at some stage . Oil and filters every 25 hrs isn't much either what so 30 bucks for oils and 20 bucks for a filter.....hell I take the mrs to the movies and you blow 50 bucks without trying. There is no better feeling than owning your own aircraft whether you built it yourself like I did or you buy one. it just depends on how flush you are in the first place. To each their own for their own reasons

 

Mark

 

 

[Av8ta]

The overwhelming advantage of owning your own aircraft is I can go flying when ever I want picking whatever weather conditions I want to fly in. My costs are 400 per month for hangar and insurance that will come down 10% per year for the next 3 years so it will come back to about $310.00 per month fixed costs. The fuel I dont take into account at all as I use so much anyway in my job and off times its just a cost that everyone must pay no matter if you are going for a afternoon picknick or fish and chips down at the beach. The only other costs would be engine replacement. I dont really even consider that because 2000 hours is a hell of a lot of flying and I doubt I will ever get to those hours in my Sav it will be sold as I want to build another aircraft at some stage . Oil and filters every 25 hrs isn't much either what so 30 bucks for oils and 20 bucks for a filter.....hell I take the mrs to the movies and you blow 50 bucks without trying. There is no better feeling than owning your own aircraft whether you built it yourself like I did or you buy one. it just depends on how flush you are in the first place. To each their own for their own reasons

Mark

Thanks mark, you sound a bit like me. I don't count things like depreciation as I count that as the enjoyment I got out of whatever it is that has depreciated. My boat costs a fair bit each year for insurance, running costs ie fuel, engine maintenance, registration would cost more than a plane I reckon. Not including fuel, it sounds like the ownership of a plane would be with hanger, insurance, reg, maintenance (not including engine rebuild) would only $4000 or $5000, whichs seems ok. The privledge of being able to own and fly your own aircraft is a real blessing and you can't expect it to be free. Im not gonna rush into it, like I did with my boat!

 

 

[J170 Owner]

G'day, I'm new and only just started getting my licence underway but I'm wondering about the average cost of owning an RA registered plane. I'm very interested in purchasing an aircraft but have little knowledge of annual costs involved.

Hangar costs, insurance, rego, licence, maintenance etc costs me about $4200 per year averaged over the last three years. That does NOT include flying, that's just owning the thing. I understand children cost far more so I guess I cannot complain. (Donations are welcome for those who are so inclined!)

 

 

[Guest Escadrille]

I have my own as I just love the freedom to fly whenever you have time for it! Flying 50 hours a year (running) costs me approx $112 an hr. i.e. hangarage a month. insurance, pilot and rego fees, oil and filter 4 times a year, plugs once a year and fuel (avgas). gliding and hiring is probably cheaper but an absolute pain in the B### time wise...

 

Go get your own plane av8ta.. you won't regret it..if you do your homework that is..

 

FWIW...

 

Andy

 

 

[Tomo]

All depends on the type of aircraft really... Mine hardly costs me anything, fuel and oil I suppose, mind you doing all the maintenance etc... myself helps a lot. And not having to pay hangarage as I just put it in the trailer. Haven't bothered with insurance as it's cheap enough to survive without it.

 

Like anything, if you own something that's worth $100k it's fair enough to say it'll cost 10% or so of it's worth a year to look after it!

 

 

[Guest nunans]

I think it can be fairly cheap or very expensive depending on what you want to do and how much you want to spend. Hangar space at my local aerodrome is $100/month, insurance is only if you like spending money on that kind of thing (I don't, but I can see if your plane was financed the lenders may insist), maintenance can be done by the owner if you don't want to hire or instruct in it so it's just the cost of the consumables and your time. Rego for RA is very cheap compared to vehicle regos when you add in the green slips etc.

 

In the end the view looks the same whether you're in a thruster or a eurocopter so it's up to you. Flying can be done cheaply in this country and it'll be a great change from boating that's for sure.

 

I'm lucky to have a strip and a hangar that costs me nothing, my plane was very cheap (I sold my motorbike to buy it) I do my own maintenance and don't insure so i'm flying for very minimal cost. My fixed costs are just RA license and rego, My Hourly cost is fuel, oil and spare parts for 100 hourlys etc.

 

 

[rankamateur]

Planes don't seem to depreciate anywhere near as fast as bikes or boats, that is a big plus, haven't seen a plane down to half price after three years.

 

 

[Av8ta]

Thanks guys, I've got six kids at home so being 5000ft up in my own space for an hour or two a week is worth every cent. I love my kids but it's never quiet at my place so some time up there in my own world will be great. Their aged 1, 3, 4, 6, 10 & 11, and very noisy!!!

 

 

[rankamateur]

You have been busy, do it quick before they get any older, and you really start putting out the coins.

 

 

[Guest nunans]

Thanks guys, I've got six kids at home so being 5000ft up in my own space for an hour or two a week is worth every cent. I love my kids but it's never quiet at my place so some time up there in my own world will be great. Their aged 1, 3, 4, 6, 10 & 11, and very noisy!!!

Wow, maybe you need some earmuffs They'd sure keep you busy you do well to get time for flying! But I suppose you're making time for it rather than having time..

Good on you I say.

 

 

[Av8ta]

Wow, maybe you need some earmuffs They'd sure keep you busy you do well to get time for flying! But I suppose you're making time for it rather than having time..Good on you I say.

Been putting it off for years, getting married, trying to get established, working, having kids, also a foster carer. A fella I met the other day who flys c-130s said "just do it, their will always be a reason you shouldn't, so just do it"!

So I am, Making time, don't live for ever. Kids are clothed, fed and warm and excited, wife's happy and I'm stoked.

 

 

[cscotthendry]

Been putting it off for years, getting married, trying to get established, working, having kids, also a foster carer. A fella I met the other day who flys c-130s said "just do it, their will always be a reason you shouldn't, so just do it"!So I am, Making time, don't live for ever. Kids are clothed, fed and warm and excited, wife's happy and I'm stoked.

I waited until my late 50's to get around to flying and owning my own plane. I wish I had done it much earlier in my life. I always found other things to do with my money and time, but always had the urge to fly. Now that I've accomplished it, I find it's not as expensive as I imagined, or maybe it's just that I consider what I spend is worth the pleasure.

+1 what Mark Kyle said about being able to fly when it suits YOU. But also, when you're hiring airplanes the cost is right there in your face and a lot more noticeable. When you own, the big expense is soon forgotten and then it comes down to running and maintenance costs which you get in much smaller doses than $200.00/hour. At least that feels better to me.

 

An added benefit for me is that, having built it, I also tinker with it. There's always something I can think of to improve it just a little. I know every nut, bolt and rivet in it. Can't do that on a rented plane.

 

 

[Kyle Communications]

Scott is right. I built my own as well and because you do it this way you can do all maintenance yourself. THAT is the big cost saving. It really is only your time and that is part of the experience as well, keeping the aircraft up to scratch fixing a small problem or even a large one is at my time cost. I dont have to pay a L2 $100 plus an hour to do anything on the aircraft. So the direct in your face costs are the hangarage and insurance if you opt for it. All the other stuff you do with your car or your boat and in real terms those costs are never counted. if you are hiring a "wet" aircraft then it is in your face. Mine first flew on the 27th of May this year I have 26 hrs of flying time that is just over 4 months so that is 6 hrs a month flying. If I was paying for wet time then that would be around 6 hrs at $160 so it would be $1000 per month direct flying cost. I certainly havent paid that only $400 a month plus fuel...so around $172.00 worth for fuel for 6 hrs and so far $30 for oil at 25 hrs and $20 for a filter. My figures are looking pretty good so far when over 4 months that has cost you $4000 for wet hire. The other thing is I have only flown when I wanted to not blowing its head off or stinking hot or wet looking weather. I think the owning part has way more advantage...especially if you build it my aircraft in actual cost to build just in parts and no time counted was around $55,000 an that includes all electronics and efis ,wiring as mine is all wired in tefzel not automotive wire and paint etc. The satisfaction I got from doing the build was worth every cent of it.

 

I also fly radio control turbine engine models...some guys have models they fly worth $40,000 and the average cost of a model is $10,000 so in the scheme of things my cost to build and fly is a bargain

 

Mark

 

 

[Av8ta]

I would like to build my own, but that can definitely wait till I don't have as many kids at home. I'm more time poor than financialy poor, I dont have heaps of money but I have more money than time.

 

 

[rankamateur]

I would like to build my own, but that can definitely wait till I don't have as many kids at home. I'm more time poor than financialy poor, I dont have heaps of money but I have more money than time.

By the time they all leave home you may find time is all you have left.

 

 

[dazza 38]

Im looking at buying again.Because the person who dies with the most toys wins.

 

 

[rdarby]

Where around the Brisbane area can you get a hangar space for $100 a month? I think the key is to get space, then be patient and find the plane.

 

I don't think it will be a good idea financially, but I am suffering from not knowing where I will be able to hire from in the future and that is making me look closely at my bank balance and the classified adverts!

 

 

[boingk]

Here is what I am factoring in (actually paying) after purchase:

 

Fuel: $24/hr [15L @ $1.60/L]

 

Maintenance: $5 hour

 

Hangerage: $50 per week

 

Use of aerodrome/landings: $12 per week

 

All up assuming two flying hours per week average you're looking at $6240 per year.

 

The way I maintain my 'maintenance fund' is by actually putting $5 an hour aside in a lockbox, topped off at $500 if and when it gets there.

 

Of course the more you fly the less the hangerage and aerodrome costs factor in, so more flying gets a cheaper effective hourly rate up to a point. It works the other way, too, being that you still have that $2600 per year hangerage cost no matter if you fly 1 hour or 1000.

 

Cheers - boingk

 

 

[Sapphire]

I plan to get a plane with fold up wings to trailer around requiring no hanger. If it doesn't have fold up wings, a hack saw and some door hinges will solve the problem