Cost of ownership for RV 4, 6?

[rjbob]

Originally Posted by Neal@F14

Rule #1 - Don't bother trying to cost-justify owning a small personal airplane. It is not possible.

Rule #2 - Never ever add up all the money you've ever spent on owning and flying a small personal airplane. You don't want to know.

Agree with Rule #2,
Disagree with #1...Without my RV-7, I would be spending money on more motorcycles, more guitars, rifles & camo gear, darts, golf stuff, camping stuff, and a psychiatrist.

HMMM...some (or most) people believe I need that last item,regardless.

[David Paule]

Just a side comment on hangars. In some places you can buy a hangar. If you do, then there's hangar insurance to add and possibly property taxes and a ground lease. Sometimes you can offset part of that by renting out part of the hangar, and if you're lucky, the hangar itself might be an appreciating asset.

There's also the cost of the hangar itself, of course. If you borrow money for it, that'll add to the monthly cost. If you buy it outright you're committing money which might otherwise be used for other purposes, so it's an opportunity cost.

Dave

[RV6_flyer]

Originally Posted by Neal@F14

I've always simply believed in and followed the "Two Fundamental Financial Rules of Personal Airplane Ownership" and despite only having the income of a city employee, have somehow managed to learn to fly, owned and flown a Cherokee 140 for nearly a decade, sold the Cherokee and now have bought, owned and flown my RV-6 for nearly 3 years.

Those two rules are:

Rule #1 - Don't bother trying to cost-justify owning a small personal airplane. It is not possible.

Rule #2 - Never ever add up all the money you've ever spent on owning and flying a small personal airplane. You don't want to know.

My comment on Rule #2 above.

IF I were to add up all the costs of owning and flying my RV-6, I would find out that it was very cheap to make all the friends and experiences that the airplane has provided. IMHO, the friends and experiences are worth twice what the above number would come to.

[rbibb]

Trying to justify owning versus renting is like comparing being in a relationship to, well, hooking up via an escort service.

One might be cheaper overall but the other provides benefits (and headaches at times) well after the transient deed is done.

I doubt if one would decide if getting in a relationship is worth it based on economics. I know you can't do it on owning an airplane.

[Jaypratt]

Cost of airplane ownership.
This question has been around many times.

Aviation has given me more than I have ever given it. The rewards are seemingly endless. Countless friends, experiences, adventure.

But ,, if,, you must know, it cost all the money you have to own and fly an airplane, it takes all the money you have, plus all you can borrow and steal to own a helicopter.
But about a hundred dollars an hour is a good start, maby a little less,, or more?

[GeneL]

Rule #3: If you do add it up DON'T let the wife see the total!

[humptybump]

Originally Posted by Neal@F14

Rule #1 - Don't bother trying to cost-justify owning a small personal airplane. It is not possible. Rule #2 - Never ever add up all the money you've ever spent on owning and flying a small personal airplane. You don't want to know.

I'm in a relatively high stress job and have been for years. When ever someone says "that's a pretty expensive hobby" I simplely reply, "cheaper than therapy".

With a national average of $90-$150 per "50 minute hour" for thereapy, our planes are a sound investment.

[Infidel]

Never feel sorry for a Man that owns an airplane.

[morganjp]

It is less expensive to fly an RV 6A than to watch a bad pro football team.
The Atlanta Falcons just announced the personal seat licenses to watch their team in the new stadium opening in 2017. $45k per seat for the right to purchase a season ticket at $380 per game per seat. So if you and the wife want to watch the Falcons from your prime seat that's $90000 for the rights for 2 seats over 30 years with the money paid up front and then $7600 for your tickets for 10 games each year.

That's $10600 a year even if you spread the seat license over 30 years!
My RV is one incredible bargain in comparison to that.

If you like flying better than bad football or whatever else you might enjoy then just do it and don't concern yourself with the cost.

John Morgan

[rv7charlie]

Cost per hour doesn't mean as much to me as cost per year. Just add up all the fixed costs (ins, hangar/tiedown, payments/lost income for the price of the plane, annual, etc), then decide whether you have money left for operation (gas, oil, maintenance reserve, etc).

I've flown so few hours lately that I really don't want to know the cost per hour.....