Did you know that there are over 113,000 airline and commercial pilots in the U.S? And without a doubt, there are even more recreational pilots as well. Are you thinking about buying an airplane?

If so, you’ll want to know the cost of owning an airplane since it can be an expensive hobby to have. That’s why today, we’ll break down the basics of airplane ownership so you see if it’s feasible for you.

Cost of an Airplane

The first aspect you’ll want to consider before owning an airplane is how much buying one will cost you. For example, on average, a used aircraft will cost you between $30,000 to $50,000. Of course, you can always haggle the price, but don’t expect to pay any less than $30,000.

If you rather have a brand new airplane like the Cessna 172R, you’ll need to put down over $200,000. However, there are other planes you can consider:

• Jordan Lake Air-Bike LS
• CGS Hawk Arrow II
• Cirrus SR22-G5
• Piper Saratoga TC

Now that you know how much owning a plane will initially cost you, you can decide if having one is right for you.

Maintaining an Airplane

Owning a plane is only the start, as you’ll need to make sure to keep it well-maintained. The price range for maintaining a small aircraft is from $600 to $1,200. So what should you expect during your airplane’s maintenance?

• Engine check
• Propellers
• Avionics
• Airframe

If you would like to learn more about common engine expenses, be sure to visit the previous link. Additionally, a good piece of advice to follow is to create a fund dedicated to your plane’s maintenance. That way, you can always be ready for unexpected repairs or replacements.

Airplane Insurance

Just like car insurance, you’ll also need insurance for owning an aircraft. Airplane insurance usually covers damages for both inside and outside of the plane. You can expect to pay up to $2000 a year for an insurance policy that covers everything you need.

Plane Fuel

The final cost you’ll need to consider while owning an airplane is gas and oil. You’ll need to change your aircraft’s oil at least three times a year or every 50 flight hours. The price of oil varies for each state, but it’s usually below $100.

If you’re a frequent flyer, you can expect to pay quite a lot on gas. For example, an average small plane burns five gallons per hour of flight, but some may burn up to 10 gallons per hour. In addition, aviation gas is usually more expensive than automotive fuel, so expect to pay more per gallon.

The Cost of Owning an Airplane Made Simple

Hopefully, with this post, you know the cost of owning an airplane. Of course, some of the prices may vary slightly between states but expect to spend a good amount of money if you end up buying an airplane. So, are you ready to own a plane?

If you found this post helpful, be sure to check out our other automotive articles. We’re sure you’ll find another one that will catch your attention!