I figure my cost of ownership this way.
A. Cost of being able to say I own an airplane:
1. Hangar -- $65/month -- $780/year (helps keep insurance &
inspection
low)
Often more expensive near cities. I drive 40 minutes to my
airport.
2. Annual inspection -- $1,000/year (often includes an
improvement)
3. Insurance -- $650/year (much less for liability
only)
B. Cost of flying
1. Fuel @ 5.4gph -- $6.75/hour for auto fuel -- $11.88/hour for
avgas
(for high speed cruise) Takeoffs, landings, local @4.5 gph.
2. Oil @ 5-10 hours/quart @ $4.00?/quart = $.60/hour
3. Overhaul fund figured on $8,000 in today's money.
$8,000/1600hrs=$5/hour.
(I paid off my overhaul about five years ago. Don't expect to
need
one
till about year 2010+. Hours/overhaul figured low to allow for
top.)
Summary:
$2,430 -- Bragging rights of ownership,
$7.35-12.48 /hour flying time.
Eat the overhaul when it comes due -- invest max money in diversified
funds.
--
Ed Burkhead
Peoria, Ill.
N3802H
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