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  #1  
Old 05-30-2007, 02:19 PM
PeteJE PeteJE is offline
 
Join Date: May 2007
Location: SoCal
Posts: 12
Default Cost to own and operate

I made a quick back of the hand calc. on operating cost for the RV10. Does this sound reasonable, what are the real world number or even estimates other have found? (I have never owned before, so I may need some education here).

I am basing the numbers on a 150 hour flying per year.
(more hours would get less dollar per hr, but higher total per year for gas and engine fund)

Fuel 14g * 5 = 10500 yr = 70 hr
Maint. 1500 yr (est.) = 10 hr
Insure 3000 yr = 20 hr
Hanger 6000 yr = 40 hr
Engine Rebuld 2000 TBO = 15 hr (using 30K as a basis cost)


Totals on 150 hours per year =

Yearly total $23,250
Hourly total $155

Last edited by PeteJE : 05-30-2007 at 10:19 PM.
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  #2  
Old 05-30-2007, 03:54 PM
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Nick Nick is offline
 
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Location: Rosharon, TX
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Default

Looks about right. Think of it this way, with 172's comeing in around $100 an hour now, the RV is still super cheap.
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  #3  
Old 05-30-2007, 03:56 PM
PeteJE PeteJE is offline
 
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Location: SoCal
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Absolutely a good deal considering the airplane you get.

Notice I left out any financing costs..... won't be true in my case
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  #4  
Old 05-30-2007, 04:10 PM
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AltonD AltonD is offline
 
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$500/month for hangar rent! Wow, and I was cying about $150
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  #5  
Old 05-30-2007, 04:14 PM
xavierm xavierm is offline
 
Join Date: Aug 2005
Location: Los Angeles, CA
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Default ...

Quote:
Originally Posted by AltonD
$500/month for hangar rent! Wow, and I was cying about $150
That's cheap in SoCal.
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  #6  
Old 05-30-2007, 04:19 PM
TimO TimO is offline
 
Join Date: Feb 2005
Location: Wisconsin
Posts: 612
Default

When I saw the thread I was mentally prepared for someone who wouldn't have a good guess and would be way low, but it really looks like at least from a rough perspective you have it made. Good job being realistic with it all! Your numbers are not all that far off from my own, just differently weighted slightly.

I consider the hourly costs to be about $75/hr as about a minimum
then add on any hangar/insurance/non-routine maintenance to that.

Again, good job.
Tim
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RV-14 N14YT - Flying 6/2016 - 350+ hours http://www.MyRV14.com
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  #7  
Old 06-28-2007, 11:19 AM
etekberg etekberg is offline
 
Join Date: May 2006
Location: Oklahoma City area
Posts: 79
Default waht about interest?

To be fair and honest, you need to include either interest payments or oppurtunity cost on the money into your calculations. Ignoring them is just lying to yourself.
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  #8  
Old 06-28-2007, 11:30 AM
TimO TimO is offline
 
Join Date: Feb 2005
Location: Wisconsin
Posts: 612
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Very true....but if you included opportunity cost nobody would want to build.

Actually though, that's a great point. During the construction especially and when you are pre-planning your build, it pays to consider how the money you are spending on the kit will NOT gain interest on it if you buy your parts too early. I get builders that ask me if $X,XXX per month would be good for building an RV-10, and I have to discourage starting the kit sometimes, because if you actually start building and buying parts, and plan to stretch the build over 5-8 years just because of cost, you're really losing out. You could save the money, let it grow in interest, and then buy the kit and do the normal 2-4 year build...and put yourself less at risk while you do it.

By luck, I have no loan or interest payments to consider on my plane, so it's just the opportunity cost of the money that I could be earning interest on that I'm losing. But the "opportunity" that I took to build them is the opportunity that I wanted anyway.

Tim
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RV-10 N104CD - Flying 2/2006 - 1400+ hours http://www.MyRV10.com
RV-14 N14YT - Flying 6/2016 - 350+ hours http://www.MyRV14.com
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  #9  
Old 06-28-2007, 12:05 PM
Baja_Traveler Baja_Traveler is offline
 
Join Date: Jan 2005
Location: San Diego, CA
Posts: 225
Default

Quote:
Originally Posted by TimO
Very true....but if you included opportunity cost nobody would want to build.
Tim

I dont know - If I figured out the opportunity cost of the hours I spend sitting on the couch right now, I should be saving a huge amount of money by spending my time building! Hmm... might be a good argument against the wife- figures don't lie (but liers can figure).
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  #10  
Old 06-28-2007, 01:23 PM
jclark jclark is offline
 
Join Date: Jan 2005
Location: Columbia, SC
Posts: 804
Default Just a different "account" ...

Quote:
Originally Posted by TimO
Very true....but if you included opportunity cost nobody would want to build.

Actually though, that's a great point. During the construction especially and when you are pre-planning your build, it pays to consider how the money you are spending on the kit will NOT gain interest on it if you buy your parts too early. I get builders that ask me if $X,XXX per month would be good for building an RV-10, and I have to discourage starting the kit sometimes, because if you actually start building and buying parts, and plan to stretch the build over 5-8 years just because of cost, you're really losing out. You could save the money, let it grow in interest, and then buy the kit and do the normal 2-4 year build...and put yourself less at risk while you do it.

By luck, I have no loan or interest payments to consider on my plane, so it's just the opportunity cost of the money that I could be earning interest on that I'm losing. But the "opportunity" that I took to build them is the opportunity that I wanted anyway.

Tim
Another way to look at things is that the funds were transferred to a different account with a different interest bearing structure. Over the life of the plane's usage by you, if you subtract what it would have cost to reant a "similar" plane, from the resale value of the plane at the time, if that amount is greater than what the money would have earned (minus the cost of renting) then you have gained!! :-)

Call it justification or rationalization or real financial calculation ... its my story and I am sticking to it!! :-)

James
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