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3 Answers

Non-Standard Aircraft Ownership

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General Aviation

First, thanks for all the volunteer work all of you do. I've taken only a few hours of lessons when I was a grad student in Boston.  Loved it.  Totally lit a fire.  I have about a year left before I finish my degree and return home to Texas.  I am strongly considering the Buy-A-Plane-to-Train model.  A C150 or 172... I'd likely be fine with owning something simple like that for the rest of my life (maybe a 172).  I'm not picky, and would just like to have some fun and putter up to Oklahoma, or South Texas, etc.  So, the next logical question becomes ownership.  Yes, I've read tons of websites laying out the cost... however they ALWAYS include insurance, plane payments, hangar fees, association fees, fees, fees, more fees. Can someone mention aspects I may not be considering for my unique case, or correct my logic?

  1. Hangar and Storage: $0.  I have a 100 acre farm with smooth pasture land and two huge barns with massive doors.  May consider putting in a turf strip one day when my degree pays off.
  2. Monthly Payments: $0.  I would be paying cash 10k-20k just something small and basic... for myself and my partner to maybe go up to Oklahoma or Arkansas to visit friends.  If I upgrade later, let's assume that's cash as well and it wouldn't be anything outrageous, maybe an older Mooney just to go further more comfortably.  But for this hypothetical, let's stick with a 150 or 172.
  3. Insurance.  I need help here.  If I own the plane, I'm basically able to forgo insurance all together, right? (not suggesting such is wise, just that it's an option). I could also go with ground-only insurance right?  Can someone clarify the insurance requirements and options in cases where you OWN the plane outright?
  4. Annuals.  A plane in ok shape with good compression... is is fair to say $500-$1500 a year?
  5. Fuel.  I do't mean to start an auto STC debate, but assuming I elect to go with the auto fuel (which I have storage tank and pump for at the farm), my fuel changes will be quite reasonable a well.
What am I missing? I realize ownership can be very costly, but when you buy a plane in cash, and you have a massive barn for hangared storage... I just feel like that's such a different scenario... a much more affordable one.  No hangar fees, No monthly payment, No or minimal insurance, just Annual and Fuel.  THAT, to me, is attainable and reasonable.  Then again, maybe it's over simplified?  As a farm boy, I'd likely take advantage (and enjoy) performing the limited maintenance that the FAA permits owners to perform as well. Is this scenario to dewey-eyed an unrealistic?  LOL Just looking for constructive realism.  Thanks a bunch!
  • Ryan

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3 Answers



  1. Mark Kolber on Jan 21, 2016

    I’m not really sure what you are asking, but I’ll take a shot and what I think you are asking about insurance.

    There is currently no federal requirement for GA accident insurance. But some states do require some level of liability insurance in case of injury to people or property other than yours. Fortunately, that insurance tends to be relatively inexpensive.

    Nothing that I am aware of requires you to have insurance to protect hull damage (the more expensive part of aviation insurance). Just like car insurance. I’m not aware of any state that requires one to have collision or fire and theft coverage. When insurance is regulated, the concern is about other people, not you.

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  2. Nibake on Jan 21, 2016

    Not sure what is meant by “non-standard” in the question title.

    Yes, you can get a 150 or 172 for that price range, but a decent 172 will run higher. You will also likely be getting an airplane with a high time engine for that price, so expect a $20-30k+ overhaul and if it runs for a while without one good deal for you! Even if the engine isn’t high time, if it sat around for a long time it might not make it anywhere near TBO.

    Insurance isn’t overly expensive as an owner, so I recommend checking into it, especially for the time when you will be training. You’ll find that insuring your own plane for training is a lot cheaper than an “open” policy for renters.

    Fuel – Peterson STC still requires 25% be 100LL, but yes, you can save a lot on fuel. Oil is expensive, too.

    Annuals, depends on the market, but at that price you are getting a steal on an annual with no discrepancies. It’s not uncommon for an annual with discrepancies to cost $2-3k.
    You’ll have to talk with other owners in your area.

    You’re right, your scenario is much more affordable than many. Do you have a good runway on your farm? As long as you are ready to dish out some cash for annuals and repairs and some real CASH for overhaul, ownership doesn’t have to be for the rich only.

    I was able to buy a C150 for $9, spend $2 on parts and 600 man hours on labor and get a very nice, cheap airplane.

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  3. Nibake on Jan 21, 2016

    BTW, I meant $9k and $2k, haha. $9 would be a cheap 150!

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