You must buy a plane before your first lesson?! Yes, really. My secrets and prices revealed
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- เผยแพร่เมื่อ 28 ส.ค. 2024
- Thanks Chris for the comment. Here is my story of buying a plane before I ever took my first lesson. Turned out to be a no brainer* (as long as I bought smart)
spoiler alert
basically, it boils down to the difference between what I could buy one for, use it and sell it and rental cost.
$30k rental...so I just needed to lose less than $30k on an airplane and it works out better! Okay...just find an airplane for around $30k and that hedges my risk.
Send more comments and I would love to connect and hear your story.
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Here’s a breakdown of my numbers:
Rental for 150hrs @ $150/hr- $22,500 (local fbo rents a 172 for $189/hr)
Cfi for 70 hrs @ $40/hr - $2,800 (found most Cfo’s are $50-$70/hr now)
Dpe x2 (private & instrument) @$800 ea - $1,600
Tests/prep $420
Rental insurance $500
Misc $400
Total: $28,220
Hope that helps and would love to know what you’ve done to lower costs to getting in the air!
I just asked this question on the video where you introduced your 6 seater. Thanks!
Jimmy when you first read off your estimated cost of plane rental costs at 23,000 dollars I almost spit my coffee all over my screen it wasn't until i saw that you were considering 150 hrs of rental time. So my question is are you figuring 150 hrs Private training and Instrument Combined? I am currently in training for private for me currently without my own plane my Hourly Rate including Piper Warrior Rental and Instructor fee's is $196 going off the average private training time of 45-60 hrs (with 50 to 60 being the norm) i estimated my training to be roughly 11,000 if it took me the full 60 Hours
@@DocbritoFMF for sure. That was for BOTH PPL & IFR. and I had 65hrs when I completed my PPL. Well done! and keep going!!
I just called Spartan school of Aeronautics yesterday and for parts 61 pilots license to rent a plane is $205 an hour
@@georgemon7387 Holy moly!!! That will add up fast!
I'm 67 years young, and have wanted to fly ever since I was a teen. Never got the opportunity because family and money got in the way. But I encourage you to do this while you are still young and before you get old and look back with regret.
Your comment gave me so much support mr doug
Still doable. Get at it D
Well I'm 69 and after 36 years of not flying decided to get back into it...first thing get your medical and go from there.
I started at 63, bought a share in a DA40 (before i had my license ;-) and now still happy flying. As longs as health and funds are okay, just do it.
Old. Not young
Thanks for doing this Jimmy. I appreciate any TH-camr who is willing to listen and respond to viewers questions. Very informative and well explained. Keep up the good work!
You beat me to it!! I was getting ready to tag you! Lol. Thanks for the question and let me know what other thoughts you have along the way.
I did the same. Bought the aircraft before first lesson. An MFI-9, Swedish SEP from 1963.
Got a good deal because the Aircraft had been sitting for 17 years I a dry hangar. In total I’m in 25000$, think its worth maybe 30000$ but it took me ONE year longer to get everything fixed than planned..
Thanks for a great channel🙏🏼
Greetings from sweden 🇸🇪
I bought my PA28-140/160 ($27000) prior to my flight training. Probably selling to upgrade this year. Has proven to be a great economic decision.
Nice! That's a good deal on the pa28. Good time to sell, the market is red hot right now.
I am in Australia and started my aviation adventure at age 65. Bought a plane, a Europa XS tail dragger and currently halfway into getting my license. Wish I started earlier, but hey, better late than never. Love Jimmy's world.
80 years old was my oldest student. Here’s how it works out. From 15 years experience as a CFI and commercial pilot. If you’re 18 you’ll finish in 40 hours. Add an hour per year older than that. Till 50 and 2 hours past 50. So about 80-90 hours. Then add maybe 20 since you’re in Australia. Don’t rush it. Just realize it takes longer when you’re not young. You’ll be fine just don’t rush it.
@@buzzypeterson1147 Thank you for your encouragement. I am up to 37hours so far and have started circuit training. Maybe I am not doing too bad after all. I also sold the Europa and bought a Flysintesis Storch which I can use for my training now. The Europa was not factory registered and could not be used.
I completely enjoy watching this adventure. What separates your channel from the rest is the humor and humility you use when speaking to all of us. In such a serious troubled time in America, your channel gives me a breather. Thank you for staying the course and continuing to deliver great content.
Jimmy...thanks for all these great videos, and I'm looking forward to more. I like your funny style...your no-nonsense approach...showing us all the details. GREAT STUFF!!!!
Cool, thanks
Thanks for doing this. Greatly appreciated. I'm 52 6 foot 5 250lbs and dream about flying ... my whole life.
I’m 54 and by 2022, I plan to get my PPL
My wife and I just bought a 1946 Ercoupe to do our training. Only 560 TT in 77 years. Always hangared with just 3 owners. It was flown for just a few hours every month in the spring summer and fall. So excited! Thanks for this video.
Thank you Jimmy for addressing this question and Chris for asking it. Its the very same question I have as I am at the beginning of the journey myself.
Glad it was helpful!
Me too! Vegas in the house!
As a rotorcraft & Fixed Wing pilot My advice is Get Gleim FAA Private Knowledge Test Prep / Study and Take on line practice tests when your getting 80%+ scores take your FAA written Test. After Passing then start taking flying Instruction Only 10% of pilots who start GET there PPL. Good Luck
Way to go Jimmy! Your moving up...I am so impressed. Since I issued you your PVT ASEL and your I-A.....I see you have a PA-32! Comm ASEL next?? Standing by on your course in being a pilot!!!!! Shawn
Thank you sir! You are truly an inspiration and I'm glad to know you.
I'm enjoying your content. We seem to have a lot in common. I decided to become a pilot about 18 months ago. Like you, I bought an airplane (1965 Cherokee 140/160) before my first lesson in November 2019. I have since used it to get my private and am currently working on instrument. Commercial will immediately follow. The Cherokee has been very good to me and the costs of ownership have been minimal. I would love to own a Cherokee 6 to cart around my wife and 4 kids. Maybe some day. Keep making videos, they're fun. :)
That's fantastic!!
Man I really like your videos and love your humor! Can’t wait to see your second plane finished.
Thanks a bunch!
I came for the planes, I stay for the humor. "Inundated with literally, a comment" made me laugh. Thanks
Another advantage of owning your own aircraft is that you have the ultimate flight simulator. You can sit in it, perform all of your checks and radio calls with your hands moving to the actual controls every time. Great for muscle memory.
It is both impressive and inspiring watching you purchase and repair these aircraft. I have been interested in flying since I saw my first airplane at about 4 years old. I would love to be able to restore old planes like these. I actually went to 2 years of airframe and powerplant mechanic school in California to get my A&P certificate but, as luck would have it I graduated less than 2 weeks before the 9/11 attacks happened and it decimated the job field in my area as so many things were grounded and there were experienced mechanics being shown the door due to lack of work. I was already out of work at the time and could not afford to pay for the practical exam time with the FAA certified instructor and never got to work a single day in the field. Watching you bring these aircraft back to life puts a smile on my face. Thank you.
Jimmy, I had no doubt that you knew what you were doing , it's quite obvious your a smart cookie . And by the way in 1966 at Monroeville airport in western PA. it cost me $ 15.00 an hour to rent a 150 with a CFI. Times have changed . THANKS
Ok. Your videos are real funny! I too have been kicking over this path and wondering what things on the plane i could fix myself and whether or not i was a maniac for even considering it. I have to say I appreciate you sharing this experience!
Nice!! and yes, you are a maniac!! welcome to the club!
This youtube channel makes me want to get back into aviation.
Lol I purchased my 140 before my first lesson on ebay of all places. Picked it up and flew out from FL to TX. Learned all about real flying on that trip.
Thanks for your video. I am planning to do the exact same thing as you.
Best of luck!
I would have never borrowed 60k to buy an airplay before having a pilots license. So I bought an airplane for 5k cash. Bleeding money slowly is the way I prefer. I have a pilots license now. Changing an aft stub spar and upper spar cap on my 64 m20e. Lots of work, learning a lot, met amazing people. I should have her in the air in 2-3 yrs.
I really enjoy your videos. You remind me of a good friend of mine, is is the crazy cat lady of airplanes. He just can't stand it if a derelict airplane doesn't have a home.
Keep up the good work!
Ya I like u too Jimmy and just to let everyone know I bought a plane too first before any lessons. Keep the videos coming Jimmy . I liked and subscribed right away. Thanks Scotty from The Rock St. John’s Newfoundland.
I took a similar path. In 1970 I bought a Cessna 150 from a flight school for $4100 which included 30 hours of dual. I learned to fly, got my PPL, owned it for 2
years. We flew it to the Bahamas from Northern California and back. Had some other great adventures. Sold it for $4000 to a CFI. Not a bad deal.
That’s a smokin deal
Damn, your energy and determination are invigorating! Have you considered motivational speaking engagements? 😎
Thanks man, great compliment. My first speech would be titled, "How to lose money in the plane market". It's gonna be HUUUUUUGE!
I'll buy the first block of front row seats!
Here in Argentina you can get an hour of flight for as low as $60. The thing is, average salary here is around $326.49 haha
I paid 165.00 an Hour for My Lessons in 2016. You are Right about Buying a Plane then take Your Lessons. When Your Lessons are Complete. You have an Airplane. Good Luck Renting One. I’m in Instrument Training Now. And I have 2 Planes. I plan on Selling Dakota in the Spring Though. I just discovered Your TH-cam Channel and Love it. Thanks.
What part of the country are you in?
@@therealjimmysworld I keep Planes at Pontiac Michigan. KPTK.
@@Pilot.Lindsay Nice, what's winter flying like?
Usually smooth. If it’s not Overcast.
Love what you're doing. Thanks for the content.
My pleasure!
I went though the same research when I started. My first PPL lesson was a ferry flight from Indiana to Florida when I brought my new plane home. It saves SO much money buying. Especially if you buy something you plan to keep.
well done! Where at in FL are you based?
Quincy 2J9
@@dvsmotions nice! If you ever get down this way, let's connect.
Where are you based? I used to make a lot of flights to Tampa area. Whitted is my favorite.
@@dvsmotions KPCM. Love Whitted
I too purchased my plane on May 28th, First lesson on Jun 2nd. A Cessna 172H. I think it is a good way because the plane is there when I need it. My insurance was similar too.
Nice! Great plane!
Jimmy I’m 72 and scared to fly, your channel is helping ease my fear
I'm 67 also, and like this other gentleman I can't get this idea of flying out of my head, I'm mechanical and have been a heavy machine operator all of my life, and I know if a 18 year old kid can do it I can do it.
Really enjoy all your videos! I bought a 1963 Piper Colt this spring to get back into flying after almost 18 years after getting my private certificate and having to take a flying hiatus. Purchase price was around $12K. It's airworthy but not the prettiest plane. However, it may be the slowest on the ramp and last to make it there on a cross-country. Since I've had it, I've had to replace the vacuum pump ($400) and do 1 oil change ($24). Fuel consumption is around 6 GPH so figure about $32/hr for fuel. It took about 10 hours of instruction for my flight review/knock the rust off so $450 for the CFI. My hanger runs $145/mo and insurance is about $65/mo. I think this is about the cheapest flying I can find in a certificated aircraft and likely almost as cheap as experimentals and ultralights. I'll resist the allure of a 4 seater and faster aircraft as long as I can but I'm already considering a partnership to fund my next hole in the sky to throw money in.
I think i can speak for many many pepole that you live the dream we all have .so cool.
Not sure how I found your channel but I’m hooked. Very informative and entertaining. I would love to buy a plane and fix it up. I’m an A&P and CFI.
I purchased my Cessna 172H before I ever took my first lesson! It is a strong incentive to learn how to fly. It also gives you the freedom to fly when you want after getting signed off for solo flights. I burned a lot of holes in the sky before I took my Private Certificate check ride. Buy the plane then go fly!
completely agree. if you can afford even a flying 152, get it for training! renting one now is too expensive and you going to need way more than 40hrs
Yes Jimmy, I agree on other viewers on the humoristoc approach make such often tough financial decision, more lightweighted. Great you share your advice and opinions with is is an -I guess- sincere way!
Very useful.... might actually get me off the fence and into my own plane. Ran out of time and money after my IFR and trying to figure out how to get to still get commercial and CFI.
Thanks for the video and information!
You bet!
Great advice Jimmy, but you should have told everyone about being careful buying an airplane with lots of airframe and engine hours, some of the FAA required airframe inspection fees can be very costly. It's just something first time buyers need to be aware of
Jimmy I got my private Pilot’s license in 1976. I paid 14 dollars an hour for a Cessna 150 wet and 7 dollars an hour for my instructor. I got my license in 40 hours 19 of those under instruction. My how times have changed. Unfortunately I didn’t go any further and stopped flying around 1981 when my job moved me halfway across the country and took up all my spare time.
Love the Ba rium Co balt Nitrogen Tee shirt.. YUM !!
I love this aeroplane. I dream all my life with aeroplane. But as poor brasiliam guy is just one dream 😢. Make so happy watching yours videos . Some time I close my yes and imagine my self with you in the cockpit. I love cessa 1972 high wings. But like you to f16 is my preferred aeroplane. But I have long list of iconic planes. Never star my day without see yours vídeos. God Bless you and your family
And while not flying it, you can loan it out to be used by the school and get paid, which further offsets the cost of your training.
Hey, Jimmy. Are you supposed to park you plane in front of a hydrant? Just kidding. LOL. LIKE your vids, man!
Thanks man!
That's how you get the water to wash them.
Good information for the prospective pilot! I coulda woulda shoulda, but I am old and can't get medical. Hey... what's with the Barium Cobalt Nitrogen on your shirt. To me, they are good modifiers for a Tantalum alloy... very expensive.
Great videos and channel! Good luck with everything going forward!
Even if all the money spent didn’t cover the whole cost of the plane… if you plan on flying anymore whatsoever then all your “getting into flying” was a major down payment in your new hobby/passion. Great vid and info.
I think buying an older C150 is a great way to learn to fly It’s very economical fun to fly and when you’re ready to move to a faster more complicated plane you can sell it without much loss
Very useful. Thank you so much. I always thought it was a bad move without working with the numbers *( lazy I guess)
You're the man Jimmy
I’ve really enjoyed your videos. I followed a similar path as you. I started aviation young soloing a glider at 14 and accruing a couple hundred hours waiting to test for my license. In that time i also took about 30 hours in GA power instruction. So we bought a share of a glider for me to fly and I had a airplane before my first car. Then as all teenagers do I found interest in other things. As an adult I have just recently come back to GA a few months ago and started flying power planes making myself a promise to finish my license. I found a good deal on a PA-28 and made the investment. My thoughts are financial savings and safety. I’m not sharing my airplane with a bunch of other students banging it around with hard landings, breaking stuff and piling on hours with the plane flying all the time and I don’t have to worry about scheduling. I can fly whenever I want to…
Jimmy, the same question that was asked and you answered I wanted to ask, so therefore thank you for answering the question!
oh wow you are blowing up! I subbed like a week ago at like 400 subs. Good luck man!!
I know right!! bunch of psychos want to see me lose all my money ;)
@@therealjimmysworld keep makin the videos they are really interesting.... remember me when your famous lol
@@comet2164 I tell my wife that I'm a TH-cam mega star but she still won't make me a sandwich...
I don't fly but it's cool 😎 that you are following what you want to do
Not a bad plan. might have missed it but didn't see hanger cost. Average monthly hanger cost is $500-$700 a month in Sarasota, FL - I might add, there isn't any available. Tie down if your lucky and that is still $300+ a month cooking in the sun.
I did that math and while yes owning your own plane and training in it can be cheaper. Most people outgrow their first cheap trainer plane after completing classes and make the mistake of dumping a bunch of money into the plane they will never get back. I advise people to get your PPL first. If you decide to go further such as IFR, dual, CFI, etc. By that time you will have some experience in a rental plane and have a better idea of what aircraft you want to purchase and fly for a while - years.
Planes are like everything else, they depreciate the more you fly them. Engine time eats the value away. Typically if your not flying over 100-120hrs a year, its not worth owning a small plane. The issue becomes, when you graduate to twins, there are few for rent reasonably priced. The math starts to change as much as the maintenance starts to double. Many that go to twins never want to return to a single. You start looking a big money, many times out of the reach of the average person.
I once had to pay $275 for an hour when fuel prices were through the roof. Funny thing is my first lessons were $65 an hour fuel and instructor included. It was in an ancient cessna 150, the paint was so faded they called it the great pumpkin lol.
I'm getting ready to go for my PPL. My son will be going for his in a few years when he's old enough. My math is telling me it will be better to buy a plane we both can use to get our licenses, and then sell (and buy a better plane!) after that.
Just bought a plane with only 7 hours under my belt because of this video. If things go south I’m telling my wife it’s your fault haha
Hahahaha! Nice!
Thanks Jimmy, I love your videos. Your doing it...
Air jimmy also the cheapest for repairs and parts don’t care is low winged or high gets the best fuel cost
Thanks buddy! Getting me inspired to start flying again!
Totally agree with your video but I would say go experimental much cheaper on parts and Maintenance
My son and I are just starting on our journey to get our license. My plan is to buy a plane and was unsure if I should buy one before I got my license. This video really helped with my decision. Now the big question is what type of plane to buy??? Thanks for the great content keep up the good work!!
Terrence, this might help you figure out the answer to that question...What do you foresee your mission profile being? That drives all the other factors. How long do you expect your flights to be? How many passengers? Once you set those, the search for the right airplane begins 😎 Good luck!
I love you are following your dreams
This is a great video! Thank you very much
I know. After the 40 hours of dual to get my solo thats about the
Price of buildin my own plane. So I need practice anyway and my ticket was to show demonstration of abilitys. After the written test pass of course.
The vids are very informative, cause I’m wanting to buy a Cherokee 6... I’m pretty close to my solo but I don’t have my own plane...
that's great you're close. Keep going, it's been great to have my pilots license.
Thanks for the break down I knew private planes were expensive to own and for up keep thanks for the real numbers.
My goodness you’re a funny guy 😂 here’s the cost and then the pages drop like a welcome mat at the airport
WOW !!!!! I got my ticket in the very early 90's... and I would rent a 152 wet for $27hr. LOL I think the 172 was about $35hr... the 182 was $44 hr.... and the 177 (for high performance and IFR) was $56hr.
And it could still be those prices if the gov't hadn't luxurized aviation some years back.... it was the same for me in the late 90's $39/hr wet c152ii +$20 dual cfi..... ahhhhh, they claim insurance this and that and a dollar or two more for a gal of fuel.... who needs insurance? What are you going to taxi into..etc.?... if you crash and die insurance not gonna help you..lol
Well I absolutely agree with you, Just answer one thing Mr Smarty pants .....On the block where I live in Brooklyn New York, They have alternate side Parking, Sooooooo are you gonna come every morning and help me to move it from side to side?
dude, you are funny as hell. Cost of running a plane 😀 several sheets of paper drop down.
Garmin hammer to fit paint to match
Just love your channel. Avgas addict
I’ve been watching your videos for a year so educational and you make it easy to understand and I always wanted to learn how to fly and finally took the first step and did my first hour of flight School and I loved it.” Thank you so much!!
Cool video, great information your channel popped up on my feet, after watching a few of your videos I am now a subscriber 👍.
I had a question that I couldn't find answered by a lot of the guys that are private owners, is it just like owning a car where you can go into your hanger or spot and feel like going out of town as flexible as a car or does it have to be a schedule type deal like flying at a big airport? That question always crosses my mind. Thx
Fly when you want! (Weather permitting). That’s the best part about owning a plane!
@@therealjimmysworld thanks for the quick response and great answer. That's what I figured but since most people I know here in Oklahoma who are aviators are kind of stuck up when I asked them questions it's kind of hard for me to learn lol. I'm planning to do exactly what you did before this year ends wish me luck, any advice that will help me would be greatly appreciated. Thank you for your time sir.
I’m kinda doing the same thing. I’m trying to buy a 3 million dollar Ferrari for $20. So let me get this straight if I can buy a plane for half its value and then sell it for twice as much as I pay for it that can pay for my training? Why didn’t I think of this? Genius!
Hi Jimmy. Love your content. I like the idea of buying a plane to get my license, then keep it for long term flying. I have my eye on a Mooney M20C, E or J. Is it realistic to get a PPL and then Instrument rating in a 'complex' single?
Thanks Jimmy for your viedos.
I took flight lessons in a 152 Cessna- (5) hrs, then switched to a PA 38 Tomahawk 10 hrs. I soloed in 10 hrs.. The experience between the two planes were different. The flight rules from each plane was not the same. I think you should buy a plane and learn to fly it. The FFA rules are the same, no matter what plane you are flying, (IFR) or VFR. But you need to know what equipment you are working with.
I’m glad you broke the numbers down for me because my rough math justified purchase of a plane as well. Which plane is it behind you? I’ve been looking at Piper, Cessna, and those types of planes that are listed as good trainers. I recently found a 1969 Cessna 150 J for $37K that’s been stored in a hanger with it’s bigger sisters for decades has an overhauled engine with only 102 hours and a propeller with only 212 hours. Avionics include a Garmin GNC300XL, Garmin 495, Garmin GTX327 and King KX155 radios. Thoughts?
Good plan
Would settle for a sport license a bit cheaper have to stay on a budget
Interesting subject and close to my heart. For comparison purposes, what part of the world are you in?
Central Florida USA.
I feel old, I think it was $38 wet for the 152 to rent when I got my PPL. Or as we called it the dollar52
I want that t-sirt!
I like your T-shirt
Purchase a flight simulater and a flight instructor manual and study study . you will cut a lot of air time. now get a CFI you are ready.
I agree it is more cost effective to be in your own aircraft, but buying before starting training. What if you don’t have the knack? How do you know if you will prefer high vs low wing? I purchased my Piper Cherokee after I soloed. I think that was a sound strategy.
My brother in law bought a twin engine plane to get flying hours in to get his commercial pilots license.
My dad was a pilot and had a patient (he was a Chiropractor) so I could have gotten my license for the price of the gas but found out after I made plans to move to Montana and never got it.
Cost to own over time? Depreciation? Inspections? AD’s , realistic hours to reach PPL.?
That’s my cost from the day I bought it till today. (6 months) I did buy it with a fresh annual, so that cost got pushed. And I finished all my training in 5 months. Which helps. The longer you own one, the more expensive they get.
I think I paid something like $2400 for my private pilot license in 1978 LOL. $30k now is just insane! Now I am kicking myself for not completing my instrument rating back then as well.
Hi Jim,
Love your channel great stuff 👍 .....what the price of a CFI for gaining your PIC in a plane you bought ?
Bought my PA28 before my first lesson. Got my license then sold it 5 years later for a profit. I learned to fly for free.
I'm 22 and got 1 year of college left. Debt free thanks to scholarship but being a pilot is something I always wanted to do since i was little. People told me the only to afford the training is the military but I'm not really a military type of guy.
with about 30k rn I could save around 50-60k by this time next year and be done with college. Idk man just seems balsy as hell to spend my entire life savings on an airplane. Wouldn't the storage fees be just as expensive? If my situation gets sticky how long does it take to sell an airplane?
Nice little plane Jimmy
Wow I regret not getting my license years ago when it was like $2800 to get your private license renting a plane. Instructors must be in cahoots with the airports or something to get them more plane rentals. I mean it would seem otherwise with the current $180 - 220 rentals I see you could give lessons in your own aircraft for $100 per hour and have students flocking to you. Just make them rent one when they solo.