Reality Check
Hi all
first post, but hopefully the first of many!
I am looking at purchasing a RV-4 and just wanted some some information on operating costs, quirks, issues, praises etc from owners and pilots of this fantastic looking aircraft.
So any info would be greatly appreciated.
Thanks in advance.
Al
Al welcome aboard. That is a very general question and there are many good threads on cost. Try the search function for the VAF.net forums.
If this is your first plane and you not the builder these are a thumb nail cost of things you may not even think of. (I may be off because regions vary widely.)
Fixed cost accrued monthly if you fly or not:
Hanger varies widely but plan on $200 min. RV's are not really outdoor planes but you can tie them down. Tie down is about $30-$60 min.
Insurance? varies with time in type, total, tail-wheel etc, but it can be over $2000 a year. You can not insure the hull but you should have liability at min.
State Tax (one time and/or early) property, excises or luxury tax; some states can be free to very expensive, a percent of value of plane, which can be $600 or more every year!) This is the one that many don't count on. Even if you build it you can escape the state tax man. In recent year from reading the web it is clear many states have increased their tax collection efforts against plane owners.
Hourly
Maintenance, tires, brakes, oil & filter is not bad but price 7 qts of oil and a filter every 25 hours. Tires and brakes all depend on your operations. Plane on tires every few 100 hours and brakes pads every year or so (based on landings and surface).
Gas - ouch cry
figure around 8 gal an hour x $5 so 40)
Un-planned repair to engine, prop and electrical/avionics.
Condition inspection ever 12 mo. If you have a A&P or know one (A&P or AI) you can work with them to do a condition inspection. Cost can vary from a $100 to $600 bucks depending on who you bring it to and how much work you do. This assumes everything is OK and there is no major or even minor repair to engine/prop or airframe.
There are several ways to cut cost, but there are more ways to blow lots of money. The good news is a fixed prop/gear RV is one of the cheapest planes you can fly. It is efficent and goes much faster on the same gas (good MPG) than any factory plane you can get for the price. RV's are simple and rugged, plus easy to maintain. The access to components is very good, aka easy to work on. On the other hand there are cost we can't avoid, gas being a real eye opener. (I don't care that Europe and other countries have paid high gas for years; they tax the bageezzus out of gas.)
Things to watch for? Start learning, read as much as you can. Get a copy of the RVator, 24 Years Of The RVator, or what ever they are up to, latest edition. Read about all the small maintence issues. You will want to look at those areas on any RV you consider to buy. Look for fuel leaks. Not common but if you have one repair can be a pain.
There are great post on the RV-4. Being and early model there are things that changed during production. Known possible issues: lower engine mount weldment's and elevated cracking, in part due to design and/or severe operation. You can tell the newer improved parts are installed if you know what to look for. (search forums)
You really want some one who knows RV's to check the RV-4 you want to buy. And if they also don't know engines and props get another person to give the logs and engine a good once over.
Also an experienced RV'er to fly the plane would be a MUST, from the front seat. Sitting in the back with the owner flying is not going to cut it. Being really a single control plane it might be hard to get a solo flight. If you have no RV time I would not let you fly my RV for a pre purchase, unless you gave me cash deposit for the full value. You have to fly it to know how it feels, if its in rig, if it meets standard performance parameters.
As with all airplanes the engine can be the biggest ticking time bomb of potential cost.
Its a bummer to buy a plane, thinking its mid time engine that will go another 1000 hours, only to find it needs an immediate overhaul. The min cost for an overhaul is $12000 to $20,000. If a crank, case or cam are bad, it will hurt. Again get a PRO to check the engine out. You do know an engine that sits is bad, even if its low time.
So be careful but be realistic, owning a plane is expensive. If I scared you than I am sorry, but better to be fat than finding you can't afford the plane. Consider a partner? That cuts all the fixed cost in half which is substantial.
If you don't plan on flying 100-150 hours a year owning any plane is not cost effective. However we do things that are not practical. If you have the green than go for it. If you buy a nice plane and take care of it, value will will likely go up over time. I always sold my planes for more than I paid and flew the heck out of them, but I also put a lot of money into them. I did not "make money" except for my RV because I built it, so I got some value for time and effort put into it (if my building time is worth $7/hr).
Consider building, it will be cheaper. If you are a bargain hunter you might find a kit started and not finished. I have over 1,200 hours in a RV-4 and they are absolutely one of the best small planes I have ever flown. However the reality check is to own a plane you really need to fly at least 100 hours, more the better. So assume from my est and 100 hours you are looking at about $8,000 a year? Even if you don't fly at ALL, it will cost you at least half that much or more per year. I don't like writing it down but its worth it. People will tell you they save money, free hanger, no insurance, their dad owns the airport and gas pumps..................... Just be realistic.
