RVs, Renting and Cost.
speed said:
Getting an RV10 is not the issue, its the month-to-month $$$ that seem to add up over time.
Can experimentals be rented? Borrowed? Short of getting a few friends to build and maintain an RV, how is the best way to leverage an experimental for intermediate pilots?.
You cant legally rent an experimental in any way. There is a waiver for a CFI giving instruction in an experimental aircraft but is very restricted.
Yes you could borrow a RV, but the chance is slim. You could consider a 2 or 3 person partnership in buying a completed RV or doing a whole building project. The people you partner with better get along. Lots of books on setting up these flying partnerships, but best between friends where everyone pulls their weight and pays their bills.
The obvious advantage of renting is fly it and forget it. No real worry if the engine has a valve problem, radio does not work or oil change is due, write it up and walk away, pay as you go with no exposure to unexpected problems. Also when not flying you are not paying for hanger, insurance, tax or anything except may be monthly flying club dues. Not flying your own plane for 2 months could still cost you $1000.
Unfortunately after you fly a RV flying a C-152 is not super exciting. Nothing wrong with the C-152, especially when learning, just that it is no RV in feel by a factor of 10,000% and in performance by a factor of 4. (Min-Van vs. Ferrari or Turbo Porsche)
The good part in experimental aircraft if you are going to own a plane is they appreciate in value, in general. Also you save money on maintenance, routine and annual inspections (called condition inspections on experimental aircraft). A Cessna or Piper annual may cost $600 or $6000. RV?s are fixed gear, easy to maintain relative to factory planes. If you do buy an RV (experimental), you can work on it but will require an A&P to do the condition inspection. If you assist them and do most of the work it should not cost more than a few hundred dollars.
The joy of owning an experimental is working on it. After you finish building it you must still work on it. Even if it is built real well there are still areas that seem to always need attention. Mostly things that rattle under the cowl form the shaking going on. For every 2-3 hours, you might work on it 1 hour, but it is an enjoyable hour.
Besides pride of ownership, if you only fly 10 hours a year you are in for a real bad cost per hour ratio no matter what you own. However if you own your own plane you tend to fly more. SO if you have the personal time and money to pay for gas you will be in the air more. If you build a simple RV with used parts, park it outside, do all maintenance, live in a state with no personal property tax and don?t have airframe insurance, you can have a very cost effective airplane. However most RV's are 60-80 grand assets, in hangers and most fully insured.
Insurance, will cost you because you are a low time pilot in a high performance airplane. You thought the FAA determined what you could fly. No. The insurance companies thru statistics, and insurance premiums determine what you can fly (or afford to fly).
No tail dragger time? Ouch. You may be looking at $2,000-$2,500 a year. If you are willing to be ?self-insured? than you can just get liability or not. There is no forced liability insurance for planes as there is for cars, as far as I know. However your ass is hanging out if you hurt someone or their property.
Most states will tax your RV either one time initially, like a sales tax, even if you built it or in many states, property tax is paid annually based on the value forever! So you could be talking a one time $2,000 or say $600 a year, every year.
What I am saying is, fixed cost (hanger/insurance/tax) and hourly cost (fuel/oil/tires/plugs/brakes) will determine how many hours you must fly every year to justify the cost over renting. That annual flight hour number to break even can be real high. However we are talking about an experimental that you cant rent and the joy of owning and maintaining. There are a lot of books out there on how to set up partnerships and fly for less money. In the end I have always done very well with my planes, flying the hell out of them and selling them for more than I paid, but I also flew 120-200+ hours year in&out and had the ability and desire to work on them. So hourly costs were not bad, but you have to spend $9,000 to save $4,000.
Cheers George
