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Airplane budget
- Brooks McNew
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- Posts: 77
28 Jul 2024 22:57 #1
by Brooks McNew
Replied by Brooks McNew on topic Airplane budget
I've been working on this as a project plane... so far the "budget" is "as much as I can handle" but I stopped keeping close track of the total once I saw the light at the end of the tunnel. I have all the numbers but am probably happier not knowing.
If it makes you feel any better, I'm 12 months into a 30-40 month hangar wait-list and in the mean time the coupe is living in a shared hangar at $150/week which is a killer. So if you're spending $200/month on a hangar you're already doing a lot better than I am!!!
If it makes you feel any better, I'm 12 months into a 30-40 month hangar wait-list and in the mean time the coupe is living in a shared hangar at $150/week which is a killer. So if you're spending $200/month on a hangar you're already doing a lot better than I am!!!
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- RPJ
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26 Jul 2024 00:52 #2
by RPJ
Replied by RPJ on topic Airplane budget
You could leave it outside and cover it in tarps. Or, you can likely have Bruce Custom Covers do a cover kit for your entire airplane for the cost of one years hangar rental. An annual can be done for $800. Find an A&P friend who can shadow your work and save on most of the labor costs. This will bring the costs closer to what you pay for a car.
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- Warren Hampton
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17 May 2024 21:00 #3
by Warren Hampton
Replied by Warren Hampton on topic Airplane budget
Wish I could find a hangar for $200. Gee, wish I could fine a hangar here around Reno!!!
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- Larry Snyder
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10 Mar 2024 10:18 #4
by Larry Snyder
Replied by Larry Snyder on topic Airplane budget
Where is the plane located? Two hundred a month for a hangar seems pretty good for most places. I had mine in a hangar at Batesville, Arkansas, and it was $195. It was $139 when I moved in there in 2010. I just moved to a large community hangar (4 airplanes) in Mountain View and I’m paying $100 a month. Currently my plane is the only flying plane in the hangar so no worries yet about moving them around.
If you find an A&P/IA who will work with you on an owner-assisted annual you can cut that way down.
My insurance is $500 a year. I have 1600 Ercoupe hours so that helps, especially since I’ve crossed the dreaded 70 threshold. Yours should go down as you fly.
One last comment (I know I’m not being particularly helpful) is that not flying the airplane will cost you more in the long run. I’m always amazed how things can break while the plane is sitting in the hangar!
You’ll have to go over your budget and see how you can fit the airplane in. I’ve dropped some hobbies because they were lower priority than the airplane. I even sold off my BMW motorcycle and my two extra banjos. There are tough financial choices for most retirees.
Good luck!
If you find an A&P/IA who will work with you on an owner-assisted annual you can cut that way down.
My insurance is $500 a year. I have 1600 Ercoupe hours so that helps, especially since I’ve crossed the dreaded 70 threshold. Yours should go down as you fly.
One last comment (I know I’m not being particularly helpful) is that not flying the airplane will cost you more in the long run. I’m always amazed how things can break while the plane is sitting in the hangar!
You’ll have to go over your budget and see how you can fit the airplane in. I’ve dropped some hobbies because they were lower priority than the airplane. I even sold off my BMW motorcycle and my two extra banjos. There are tough financial choices for most retirees.
Good luck!
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- Nathan Bissonette
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10 Mar 2024 09:10 #5
by Nathan Bissonette
Airplane budget was created by Nathan Bissonette
Do you have a budget for your Ercoupe? How much is it? Mine is:
Hangar rent, $200/month, $2,400 yearly total.
Annual inspection and repairs, $2,500.
Insurance, $1,200.
Looks as if I need to budget $500 per month just to let it sit, if I never fly it, more for gas and oil when I want to fly. I'm retiring in July. I don't know if my retirement income will support that. What do other people do?
Hangar rent, $200/month, $2,400 yearly total.
Annual inspection and repairs, $2,500.
Insurance, $1,200.
Looks as if I need to budget $500 per month just to let it sit, if I never fly it, more for gas and oil when I want to fly. I'm retiring in July. I don't know if my retirement income will support that. What do other people do?
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