Share vs. Hire - Pros and Cons?

[kgwilson]

I know it is normal to be in debt but I have always hated owing money even though I had a mortgage for years. I ended up paying my first 25 year mortgage off in under 10. Then I bought an investment property. More debt but it was paying for itself, at least when it was tenanted. Then I engineered a redundancy & got a good payout, but hey the bloody bank wanted a penalty for paying off the loan early. Sod them so I did the same as Poteroo. They gave in. Then I bought a business for cash. Needed a bigger base so bought a building. Borrowed more using the house as collateral. Sold the business & again the Bank wanted a big payout to pay off the loan. Told them to stick their so called deferred establishment fee up their axx. They said no. I said no fee or bye bye to my accounts. They gave in. Moved to Corindi. They didn't have a branch or EFTPOS within 30k. Closed all accounts. Got a new bank & keep bugger all in it. Now move cash around to whoever pays the best 4 month bonus interest & close the account when the rate drops.

 

I HATE BANKS & DEBT.

 

 

[chrisb]

I tried to get another loan with a bank I already have a loan with, made an oversight on the form and they refused the loan. Canceled the existing loan and went to another bank, one year later they offered me a permanent discount on there loan rate if i return with both loans.

 

Cable TV, how much to move the service, $xxx. No cancel it cause I'm bored, how about we install the service for free, ok then.

 

 

[M61A1]

It will depend a lot on the type of flying that you want to do. I have a cheap 95.10, it owes me around 5k, I put $10 worth of fuel in it every few weeks, and do an oil change every few months. It lives in a trailer in my back yard. So I can' take a passenger, I go everywhere at 55kts, but I fly with others who do the same. I could go very long distances, but mostly I chug about my locality. If you like your flying like that, you can do it for much cheaper than any of the numbers I'm see thrown about here.

 

 

[Bob Llewellyn]

It will depend a lot on the type of flying that you want to do. I have a cheap 95.10, it owes me around 5k, I put $10 worth of fuel in it every few weeks, and do an oil change every few months. It lives in a trailer in my back yard. So I can' take a passenger, I go everywhere at 55kts, but I fly with others who do the same. I could go very long distances, but mostly I chug about my locality. If you like your flying like that, you can do it for much cheaper than any of the numbers I'm see thrown about here.

If it's not a personal question, wottiz it? (the 95:10, this is not meant to be philosophical!)

 

 

[M61A1]

If it's not a personal question, wottiz it? (the 95:10, this is not meant to be philosophical!)

The lovely German guy who built it, imaginatively called it a 95.10 in the documentation. As far as I am aware, it is a one off. The wings pivot at the rear spar, and fold rearwards with the struts remaining attached. It could use a little more power though, but it sounds really good with the Guzzi V50.

 

 

[M61A1]

A pic with the wings folded & in the trailer.

 

 

 

[coljones]

The home loan is the first thing to payoff, so they all say, as you don't claim the interest. Inflation helps you though. I don't know anyone who doesn't borrow to buy a house, but the interest sure adds up. (Imagine making the last payment) nev

No - the first to pay off are the credit and store cards and always pay them off in full by the due date,

the 2nd are any hire-purchase loans and personal loans

 

the 3rd are any vehicle loans

 

You might even think about increasing the mortgage or an offset account to pay off the above

 

and last of all is the mortgage but given the low interest rates you might do the sums and defer paying off the mortgage and toss a lot of money into super as salary sacrifice.

 

Between the taxation advantages and high super returns you can get the bank and taxpayers to pay you money instead.

 

 

[Bob Llewellyn]

The lovely German guy who built it, imaginatively called it a 95.10 in the documentation. As far as I am aware, it is a one off. The wings pivot at the rear spar, and fold rearwards with the struts remaining attached. It could use a little more power though, but it sounds really good with the Guzzi V50.

sounds neat! market research here: Do you use the wing folding much?

 

 

[M61A1]

sounds neat! market research here: Do you use the wing folding much?

Only every time I fly it.......I don't have a hangar, so I park it in the back yard and drive the 15 mins to my local strip.

Rigs/derigs in under 10 mins- 1 clevis pin each side of the horizontal stabs, 2 pins each wing, clip the aileron cables into the pulleys, latch and pin the cable over-centre latch. Then preflight and go.

 

From what I'm reading, no hangarage saves me a lot of money.

 

 

[Bob Llewellyn]

Only every time I fly it.......I don't have a hangar, so I park it in the back yard and drive the 15 mins to my local strip.Rigs/derigs in under 10 mins- 1 clevis pin each side of the horizontal stabs, 2 pins each wing, clip the aileron cables into the pulleys, latch and pin the cable over-centre latch. Then preflight and go.

From what I'm reading, no hangarage saves me a lot of money.

absolutely - but the Skyfox wing folding seemed to never get used, and then the ailerons went soggy and the aileron hangers (arse of ribs) went rotten. As a frustrated designer, I've long believed in folding wings, but after the 'fox experience, I thought nobody would use 'em.

 

 

[Mriya]

I've never actually sat down and worked it out ,but at $107 per hour it leaves me a bit of room before I'm cheaper to rent, and if I find someone to share the hangar( at YCEM ,anyone???) my costs come down a fair bit again.

I had someone drop in asking whether there was any hangar space for an acrolite last week + another aircraft hangarage query in Dec. Did your other hangar sharing plan fall through?

 

 

[M61A1]

absolutely - but the Skyfox wing folding seemed to never get used, and then the ailerons went soggy and the aileron hangers (**** of ribs) went rotten. As a frustrated designer, I've long believed in folding wings, but after the 'fox experience, I thought nobody would use 'em.

I've never folded the wings on a skyfox, but the simplicity and speed is the key here I think, also that it can all be done by one person, it has sufficient strength to support itself, even when not connected.

I've tried to reduce my Drifter rigging time, but it doesn't seem to matter whether I've got 1 or 2 people, it still takes around 40-45 minutes.

 

 

[Bob Llewellyn]

I've never folded the wings on a skyfox, but the simplicity and speed is the key here I think, also that it can all be done by one person, it has sufficient strength to support itself, even when not connected.I've tried to reduce my Drifter rigging time, but it doesn't seem to matter whether I've got 1 or 2 people, it still takes around 40-45 minutes.

ok, so if it can be done by one person in less than 5 minutes and then fits onto a trailer, it's a goer?

 

 

[M61A1]

ok, so if it can be done by one person in less than 5 minutes and then fits onto a trailer, it's a goer?

It would be for me, I reckon 15 minutes would be OK, but there are other criteria also, mainly that I need to be able to afford it, unfortunately for me that means I usually have to make it, labour costs are huge. I was fortunate with the 95.10, it came along at the right time, at the right price. Same with the Drifter, they were both fixer uppers.

 

 

[metalman]

I had someone drop in asking whether there was any hangar space for an acrolite last week + another aircraft hangarage query in Dec. Did your other hangar sharing plan fall through?

Yeh, I've got another Kitfox coming in there soon,

Matty

 

 

[flying dog]

Hi all,Just got to thinking, as I am convinced I will never be able to afford my own aeroplane, the options available to me are either hire or purchase a share. So this got me to thinking, as one who has sat through the full 4-hour time share condo spiel in Mexico and ultimately rejected the idea.

 

The basis of the share was I pay whatever $$ up-front, then i have access to use the condo whenever I want. Which sounds great until I work out that a) I'd have to visit and occupy the room a helluva lot of times to make up the cost vs just renting a room and b) they seemed to be playing me on the idea that accomodation was as rare as hen's teeth, and best to have this available in case my holiday is spoiled due to lack of availability.

 

I have never found, with adequate planning, any shortage of great rooms at a reasonable price, so ultimately it wasn't for me. And it would also lock me into that destination for the foreseeable future if I wanted to see a benefit. Some people love it. Dunno.

 

Now - back to aeroplanes. Is there some facet of the share scenario which would make it beneficial vs. just hire? I can imagine it is nice to be one of a known number of people flying it, and all that but...

 

a) reduced rate? is the difference between the reduced rate and normal hire price enough? Still seems like you would have to go up a lot to recoup the cost of the share in hire rate difference.

 

b) if 5 people are sharing a plane, is it that much likelier to be free on a given day that I want it?

 

i am sure there are other considerations, but is this just under the surface a status thing? What else is there to consider? I can be swayed one way or the other, would like to hear from others who have either done it and love it, done it and hate it, or considered it and rejected the idea, or are still considering.

 

should this be a poll?

 

adam

Sorry for the big quote.

 

Haven't read all the replies.

 

Alas "been thre, done that".

 

It is not pretty what happened.

 

You say share. That isn't really a good term. Do you mean SYNDICATE or you just rent the plane?

 

SYNDICATE - unless you REALLY EALLY REALLY know the people, foreget it.

 

Even the: Foregtit.

 

Like marridge, money destroys syndicates.

 

You said something about a condo with lots of room always available.

 

Weird how after the papers are signed things like that change to "hardly ever available". Be it from other people using it or you just not having the time to fly.

 

I used to do 6 hours a month. Now I am lucky to do 2 hours a year.

 

That is a big difference.

 

I strongly suggest you BITE THE BULLET, and RENT WHEN NEEDED.

 

If the plane is booked, go else where for that trip, or use another plane.

 

Committing yourself to that plane carries a lot of problems you can not imagine.

 

Sorry if that is a wet blanket, but it is the truth from my experiance.

 

 

[ayavner]

Nope Sue, syndicate is what I meant and I really value your thoughts here!

 

its been a long time since I opened this thread, but lots has happened since then - I've passed my pilot test, navs, and Pax, and am starting on my PPL. I am inclined to agree with you. Right now my thoughts are either rent when needed as you suggest, or buy an inexpensive plane just to flog up for hours.

 

Still a ways off yet, once I get my PPL I can fly an RAA aircraft out of Bankstown which is very close to me, which may really kinda solve all problems.

 

 

[flying dog]

Good to hear yoyu pased the test, nav etc.

 

Sorry for the bad typing/spelling,but windoze is a slow machine and it is just killing me with my typing skills.

 

Good luck and all the best for the future.

 

I have to go to Wollongong to fly and that is 1.5 hours each way.

 

 

[ayavner]

Hah, that is where i go - about the same distance away.. what area do you live in? I'm in Winston Hills, just outside Sydney. do you rent from Bruce down there?

 

 

[flying dog]

Yup.

 

I drive there and rent from Bruce.