When does it make sense to buy?

Or when you want to fly something cool like this
 

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I spent months running numbers on break-evens and yadda yadda on my co-ownership. At the end of the day, it hasn't been cheaper than renting, but I wouldn't change a thing. It turns out, no matter how much you analyze it, you either want to own or you don't.
 
Quote:
Originally Posted by bahama flier
Don't do a joint ownership, some work out, but sooner or later most will be a problem with repair costs, family issues, death survivorship...too many problems waiting.


Ken Ibold said:
This is so wrong. Partnerships are like marriages. Some work; some don't, but to say that most will be a problem is excessively pessimistic.
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Meh, I''ve been in a partnership ten years now, and it works very well. We're all laid back about it and don't sweat the small stuff. It's great to have a capable airplane and yet halve (or better) your fixed costs. And, the plane flies more often which is key to having a good, low MX bird.
 
I agree with some others, if you can Afford it, buy it. I look at it as just another toy, like a motorcycle, hotrod, boat, camper etc. If you tried to justify owning those no one would own them.
 
Bill Jennings said:
Meh, I''ve been in a partnership ten years now, and it works very well. We're all laid back about it and don't sweat the small stuff. It's great to have a capable airplane and yet halve (or better) your fixed costs. And, the plane flies more often which is key to having a good, low MX bird.
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I am in a partnership that exists for about 20 years through 2 different aircraft, a wreck, an engine failure and three overhauls. I only joined 2 years ago, but so far my experience mirrors yours.
 
Dean said:
I agree with some others, if you can Afford it, buy it. I look at it as just another toy, like a motorcycle, hotrod, boat, camper etc. If you tried to justify owning those no one would own them.
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I have never met someone who calculated the cost per nautical mile of owning his sailboat. Recreational powerboat owners may know what the cost of a fillup is, but most choose not to. Its a thing they want to have and as long as there is food on the table for the kids, they keep it.
 
Fearless Tower said:
Entirely environment dependent. There is plenty of rotting garbage in hangars too.....you just don't see them.
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Not really true in my fifty years around airports. Even in Arizona where it's very dry, the sun ( uv and heat)still plays hell with an airplane .most, if they are of any value are at least under roof with open sides. Here in the east, if humidity is a big problem, it probably means you don't fly enough to counteract the conditions. If this is so, you'd better rent. If the hangar leaks and is actually wet, move!
 
weilke said:
I have never met someone who calculated the cost per nautical mile of owning his sailboat. Recreational powerboat owners may know what the cost of a fillup is, but most choose not to. Its a thing they want to have and as long as there is food on the table for the kids, they keep it.
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If people figured up the cost of ownership on all their toys they would probably have a stroke. My philosophy is, if it breaks fix it, needs fuel, fill it up and if I can't afford to do either, sell it.
 
Why did you buy a car? You could have rented one every day you needed to drive one for less than the cost of owning one.

Same analysis.
 
I think it makes sense to buy when you have enough spare money and spare time, which surprised me.

I found ownership really takes up a lot more time than I expected. In my case, I bought a nice 30 year old, well equipped Grumman Tiger and I'm doing as much of the maintenance myself as I can.

A 30 year old airplane is nothing like a new one. Every time I open anything up, I can almost count on doing collateral work to make things the way they should be. If for no other reason, things are just old.

I got very few hours out of my first 8 months of ownership. Honestly though, after seeing the lack of attention to detail on mods done by independent A&Ps, I'd much rather do all the electrical work myself.

It's no mystery to me why Garmin only allows service centers to do their mods. Most of the non production wire crimping work on my airplane looks like hell. With the exception of the Garmin install anyway.
 
skynewbie said:
Looking for my first plane and after sifting through lots of planes with missing logs and past major damage history as well as calculating hangar, MX, insurance, fuel and purchase costs, I'm wondering when it becomes better to own then rent. Would love to hear experiences from owners. I'm looking at complex high performance single piston aircraft under 100K like Bonanza that will serve me well for advanced ratings and long XC trips average 500-2000nm along with the occasional $100 Hamburger run.
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I've been in the flying game for 15 years and still haven't convinced myself to buy. I'm in a club with 2 nicely equipped Archers & a 172, and renting an Arrow from another FBO. The only time I think it makes financial sense to own is when you fly on business, with business tax advantages, etc. Some companies actually allow employees to fly their own a/c on business trips and reimburse them, mine doesn't. :mad: In my case a/c ownership would be purely recreational and I just can't justify that. I know, I just need to start a business with clients in far-away places! :)
 
comanchepilot said:
Why did you buy a car? You could have rented one every day you needed to drive one for less than the cost of owning one.

Same analysis.
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Well, not quite (IMHO). Depending on where you live and whether you really need a car. In Boston or NYC you may not need one (it makes perfect sense to rent those few times when it's actually needed), here in Detroit it's an absolute necessity. When you have to drive to work, the car is an income generating tool / enabler. Some people with businesses and clients all over the place, they consider an a/c a necessity, it's their enabler. A core necessity needs to be owned, not rented.
 
skynewbie said:
Looking for my first plane and after sifting through lots of planes with missing logs and past major damage history as well as calculating hangar, MX, insurance, fuel and purchase costs, I'm wondering when it becomes better to own then rent. Would love to hear experiences from owners. I'm looking at complex high performance single piston aircraft under 100K like Bonanza that will serve me well for advanced ratings and long XC trips average 500-2000nm along with the occasional $100 Hamburger run.
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My plan (actually serious about it): I'm not an owner (a close friend is), but having been around mechanics and shops long enough, I've seen and heard enough to be quite suspicious of maintenance practices out there, and on occasion dealt with the aftermath first hand. Having an engineering background, my plan is to earn an A&P, and only then get into the ownership game. With a/c getting older, more and more things need closer inspection, etc. I want to do it myself, have complete say over maintenance, and save a bundle in the process.
 
slavinger said:
My plan (actually serious about it): I'm not an owner (a close friend is), but having been around mechanics and shops long enough, I've seen and heard enough to be quite suspicious of maintenance practices out there, and on occasion dealt with the aftermath first hand. Having an engineering background, my plan is to earn an A&P, and only then get into the ownership game. With a/c getting older, more and more things need closer inspection, etc. I want to do it myself, have complete say over maintenance, and save a bundle in the process.
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Why not spend the time it would take to get an A&P and build a plane? You get similar learning experiences but end up with a new plane.
 
slavinger said:
Well, not quite (IMHO). Depending on where you live and whether you really need a car. In Boston or NYC you may not need one (it makes perfect sense to rent those few times when it's actually needed), here in Detroit it's an absolute necessity. When you have to drive to work, the car is an income generating tool / enabler. Some people with businesses and clients all over the place, they consider an a/c a necessity, it's their enabler. A core necessity needs to be owned, not rented.
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Given your analysis, I stand by my comment. :yes::D:lol::lol:
 
If you really only have 4-5 hours a week to spare for flying there are realities. 1-A good rental is a great deal. 2-Flying probably isn't going to be a way to tour all 50 states and do all manner of traveling. Aviation has a huge footprint in my life. I'd rather be down the field than doing almost everything else. I do wish I had flown more over the past year. Year 2 of ownership will be much better.


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Why do I want to fly everything? Variety is fun and the best way to develop skills in opening choices for aircraft to rent or buy. Hardly anyone rents a retract aircraft so it makes things easier to rent at the last minute. Warbirds are just way cool and fun way to experience history. Tail draggers make you a better pilot and open up choices to learn aerobatics. I did not learn to fly to rent a go slow Cessna 172 that my car is faster on the track.
 
txflyer said:
If it flies, floats, or fvcks, ... it's cheaper to rent. :D
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But ownership gives you certain rights that renting doesn't provide...and to the fellow that said that he wants to experience all forms of flying ... well, Las Vegas (or the environs) does the same for that genre.

Jim
 
For me the question has always been one of utilization rate and availability, and not one of affordability. The underwater cost delta vice renting is accepted as the opportunity cost of gaining availability. For some this will be worth it, for others it will not. That's really where you need to frame the question of buying an airplane.

For me, sole ownership has been the only available solution to my travel needs when accounting for the remote location of my domicile, where partnerships nor renting of consequence is available at all, and my flying requires dedicated weekends and holidays without compromise.

Good luck!
 
To be frank eating red meat, having sex outside of reproduction, drinking alcohol or soda, or much of anything outside of water, making small talk, and having relationships, etc doesn't make much sense in the grand ROI of life, yet we still do all that.

It makes sense when you want to own and can.

Besides I've never heard a person say "I wish I saved more money" on their death bed.
 
Did Ben ever actually purchase an aircraft or a share in one?
 
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