The Cost of Ownership? (Vashon Ranger Cascade)
The obvious question you should ask first is how much do you plan to fly. Most experts advise that if you don’t fly at least 10 hours a month you are better of renting or join some kind or shared ownership arrangement.
When I bought my airplane I had made the assumption that my son would be flying it those 10 hours month or more. Well, those plans didn’t work out the way I thought they would.
So, these are my costs.
The cost of the airplane was $180,000
My ongoing fixed annual expenses $22,447.43 This airplane is tied down outside at $55 a month . If I were able to find hanger space it would run $500 to $2,000 in my area. The $500 is your basic shared you can park here. The $2,000 space is an air conditioned 30X40 space you can call your own. Good luck finding hanger space these days.
My variable per hour expenses are actually fairly inexpensive at $45 an hour.
My initial plan would have put my cost per hour at $232 per hour. The reality is it’s cost me $686 per hour to fly since my time flying has been closer to 3 hours per month.
Your Costs may vary.
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