Q: What are the two happiest days of a pilot's life?
A: The day he buys his first airplane, and the day he sells it.
I've been saying for years now that sole ownership of a recreational airplane is a money-wasting extravagance for 90% of the pilots out there. Even "affordable" airplanes have fairly high fixed costs, meaning that your very first hour of flight time is 5 to 10 times as expensive as the rental rate for an equivalent aircraft. Renting is more cost-effective than sole ownership for anyone who flies less than, say, 8-10 hours a month - which is virtually everyone I know who flies for fun. A huge portion of the GA fleet doesn't fly more than an hour or two a month. Besides the inefficiency of it, the disuse is hard on the airplanes and their engines, adding to maintenance costs and woes.
Despite all that, most pilots dream of owning their own airplane, and many present owners seem to be continually looking to trade up to something bigger, faster, and yet more expensive. I'm no exception; for years I've made a daily habit of perusing barnstormers.com, particularly looking at 4-place taildraggers. Don't get me wrong, I like belonging to the Yellow Cub Club. I've had a blast flying the Cub, and the flying club arrangement appeals greatly to my thrifty nature. Having a bunch of pilots to share the fixed expenses means that flying clubs are cheaper than renting after only 2 or 3 hours a month, and you generally get better maintenance, more flexible scheduling, the camaraderie of the club, and a measure of the pride of ownership. It's still not quite as good as owning a plane, though. I got a taste of that when I was flying the Cessna 170A. I missed having a plane guaranteed available whenever I felt like going flying, with the flexibility to take it on longer adventures. I missed having four seats, night flying equipment, and a measure of cross-country capability. The Cub is based at Airlake, a 45-minute drive from our house; I missed having a plane at Flying Cloud, only 15 minutes away. And frankly, I kinda wanted a plane of my own merely for the sake of being able to say, "She's mine."
When I talked to Dawn about this, it turned out she feels the same way, even though she loves the Cub as much as I do. Like me, she prefers flying a classic taildragger over a modern spam can. Had there been a local flying club or partnership formed around a 4-place taildragger at FCM, I probably would have gone in that direction; the cost advantage over ownership outweigh the occasional inconveniences. But there are no such clubs in the local area, and I couldn't find anyone looking for a partner, either. So our choices were to continue with the Yellow Cub Club, or buy a plane of our own.
I did some investigation and ran the numbers:
Next post: The Search. To be continued....
A: The day he buys his first airplane, and the day he sells it.
I've been saying for years now that sole ownership of a recreational airplane is a money-wasting extravagance for 90% of the pilots out there. Even "affordable" airplanes have fairly high fixed costs, meaning that your very first hour of flight time is 5 to 10 times as expensive as the rental rate for an equivalent aircraft. Renting is more cost-effective than sole ownership for anyone who flies less than, say, 8-10 hours a month - which is virtually everyone I know who flies for fun. A huge portion of the GA fleet doesn't fly more than an hour or two a month. Besides the inefficiency of it, the disuse is hard on the airplanes and their engines, adding to maintenance costs and woes.
Despite all that, most pilots dream of owning their own airplane, and many present owners seem to be continually looking to trade up to something bigger, faster, and yet more expensive. I'm no exception; for years I've made a daily habit of perusing barnstormers.com, particularly looking at 4-place taildraggers. Don't get me wrong, I like belonging to the Yellow Cub Club. I've had a blast flying the Cub, and the flying club arrangement appeals greatly to my thrifty nature. Having a bunch of pilots to share the fixed expenses means that flying clubs are cheaper than renting after only 2 or 3 hours a month, and you generally get better maintenance, more flexible scheduling, the camaraderie of the club, and a measure of the pride of ownership. It's still not quite as good as owning a plane, though. I got a taste of that when I was flying the Cessna 170A. I missed having a plane guaranteed available whenever I felt like going flying, with the flexibility to take it on longer adventures. I missed having four seats, night flying equipment, and a measure of cross-country capability. The Cub is based at Airlake, a 45-minute drive from our house; I missed having a plane at Flying Cloud, only 15 minutes away. And frankly, I kinda wanted a plane of my own merely for the sake of being able to say, "She's mine."
When I talked to Dawn about this, it turned out she feels the same way, even though she loves the Cub as much as I do. Like me, she prefers flying a classic taildragger over a modern spam can. Had there been a local flying club or partnership formed around a 4-place taildragger at FCM, I probably would have gone in that direction; the cost advantage over ownership outweigh the occasional inconveniences. But there are no such clubs in the local area, and I couldn't find anyone looking for a partner, either. So our choices were to continue with the Yellow Cub Club, or buy a plane of our own.
I did some investigation and ran the numbers:
- $25k Airplane, $15k financed at 2.99%/60 months: $280/mo
- Liability & Hull Insurance: $65/mo
- T-Hangar at FCM: $200/mo.
- Annual & Routine Maintenance: $125/mo
- Fuel: $45/hour
- Overhaul Fund: $10/hour
Next post: The Search. To be continued....













