RV Operating cost/partnership questions

[Sig600]

Gents,
A buddy of mine and I are tossing around the idea of buying our Boss's RV-6, and going 50/50 on a partnership.

In tossing generic details around we were trying to spitball the operating cost. Rounding up, we figured about $50/hour in fuel costs, but whats a realistic amount to sock away for maint. costs and unexpected stuff?

The motor is an 0-320 with about 800 hours on it, an I'll run it past TBO as long as oil analysis and compression checks are good, first hiccup I'll look to overhaul/replace.

[RV8iator]

The obvious ones are the debt service, (loan payments) if you are not going to pay cash,
insurance, on my 8 hull value 95k is about 1850/year
hangar, depends on where you live but from $100.00 to 400 a month is not unheard of,
taxes, if your state or county has ad velorum or property taxes. Mine in GA are about $500. annually

you can do all your own mtc except for the signing of the conditional inspection. I do my own and have an A&P double check EVERYTHING and he charges me less than $300.00.

replacement parts will vary wildly as needed. I've been flying my purchased 8 for 3 1/2 years now and have had very low mtc costs. Tires, tubes, alternator, filters.

Obviously, engine and prop overhauls are the big ticket items and some folks sock away an hourly premium to be ready and others just have to cough it up when the time comes. That's your decision to make with your partner.

[Ron Lee]

Fuel: 8 gallons/hr times local cost

Oil changes: ~$50 USD

Hangar cost: Check locally

Insurance: Depends but circa $2000 annually (call an agent to get better numbers)

Other stuff: Condition inspection, fix what breaks when it breaks. Tires, tubes, brake pads.

Final cost: what it is. What you get is something you can't buy.

[Sig600]

Got another buddy in our squadron that has a C-180, and wants to split his hangar (which runs him 225/month). So we're looking at $50 a piece.

As far as insurance, neither of us has any tailwheel time. Got friends in the insurance business that are looking into it for us.

We're looking at putting an operating cost on it, and we'd just be obligated to put $X into a savings account per flight hour for incidental big ticket items. X is what I'm trying to figure out.

Two F-18 pilots with an RV-6... what could go wrong?

[Jerry P. Sheppard]

Here is my math. Just ruff #'s for 1 month. This math gives me 15 hrs per month. Since I am on my own I simply eat the big stuff when it comes up. Key to all good maint plans - do a good post flt. Keep the plane clean and the problems will jump out at you. Do not let the to do list grow to over 1 item. Fix stuff or it WILL cost you more down the road. He may be your boss - but do the pre-buy. Or you WILL pay someday.

Payment 600
Fuel (15 Hrs) 500
Hanger 110
Insurance 105
XM 40
Parts 100


Per Month 1455
Hrs 15
$ Per Hr 97

[bkilby]

The F18 is alot easier to fly than the 6 at least the simulator is.

Originally Posted by Sig600

Got another buddy in our squadron that has a C-180, and wants to split his hangar (which runs him 225/month). So we're looking at $50 a piece.

As far as insurance, neither of us has any tailwheel time. Got friends in the insurance business that are looking into it for us.

We're looking at putting an operating cost on it, and we'd just be obligated to put $X into a savings account per flight hour for incidental big ticket items. X is what I'm trying to figure out.

Two F-18 pilots with an RV-6... what could go wrong?

[Dean Pichon]

...I deposit $550 per month into my "RV-4 Account". This amount remains unchanged since I finished the plane in 2001. It covers all aircraft related expenses including my EAA membership renewal. For me it works out to about $100 hr.

[WAM120RV]

A method often used in the Uk ( possibly USA as well), is to work out your annual ground fees first, by that I mean everthing you need to pay for before you fly

Example:

Hangarage.......... 2000
Insurance 2000
Permit renewal 400
Other fees 400

Total 4800 then divide this by 12 (months) 400 per month, then devide this by the number of owners so 200 per month.

Then work out the average fuel cost per hour, perhaps 50 per hour, then add say 25 per hour to this to buld a fund for your maintenance fund. That way whoever flies the most pays most for the maintenanace. The ground costs are shared equally.


I hope this helps.

Wam

[Mark7986]

The plane is payed for so we split Hanger, insurance, and cost of condition inspection. We feel all of those are just protecting our investment. A/C rent is figured on a dry airplane. The airplane is put away full of fuel, windshield cleaned and bugs removed from the plane. Then we figure an hourly rate and settle up when we do the condition inspection. If one of us don't fly, we end up with money in our pocket. We don't save for big items. We just put in a new autopilot and split the cost. We feel it just adds to our investment.

Mark
Fairmont MN
RV6

[twsurveyor]

Originally Posted by Sig600

Gents,
A buddy of mine and I are tossing around the idea of buying our Boss's RV-6, and going 50/50 on a partnership.

My RV-6A has 500 hours on it in 4 years. Based on that, my cost in round numbers are:

1) Fuel 125 hr x 8 gal/hr x $4.00/gal = $4000
2) Insurance/yr = $1200
3) Hangar/yr = $1800
4) Engine reserve = 125 hr x $6.00/hr = $750
5) Oil (changes & comsumption) = $200
6) Maintainence = 125 hr x $8.00 = $1000
7) Charts, Satilite service & subscriptions etc. $1000
__________________________________________________ ____
TOTAL $9950/yr ($80/hr)

(Note that this does not include any notes or interest etc.)

Hope this helps!