Starting now in HS. How long would it take me to save to buy a decent SEL airplane? Used or new. Is new out of the picture? Do you basically need to have a rich family to be able to purchase a new plane? And where is the most reliable place to find a used airplane?
Thanks. Id like to own a plane by the time I am 25 ( I’m 17 now). I’m a Student Pilot.
Yes owning a plane is expensive. There is more to it than just the purchase price. Maintenance, insurance, fuel, and tie down fees are also quite costly. However on the bright side if you purchase a used aircraft there is very little depreciation as the price does not drop very fast and you actually could see appreciation. I have owned 6 different aircraft now and am currently looking for my seventh as a hailstorm damaged my current Mooney beyond repair, and every plane was sold for more money than was payed for it. If you start with a Cessna 150 or simular aircraft you could own a good used one for around 20,000. They are cheap on fuel and are great little birds for gaining much enjoyed flying time. Now if you consider the cost against buying a new boat or other toy, flying is actually not much more money as I guarantee that that 30000 dollar boat will be worth about half in two years. Flying is rewarding. If you set your heart and mind to it anything is possible.
You could look at the websites www.controller.com or www.trade-a-plane.com, or www.barnstormers.com. These sites have hundreds of used aircraft for sale. If you find one and want to buy it, always get a maintenance shop to do an inspection of the aircraft, and not the shop that was used by the prior owner. Hire your own mechanic! If this isn’t agreed to by the previous owner chances are that he is afraid of something being revealed. Move on there are hundreds of planes out there. Good luck and have FUN.
