Cirrus SR22 Cost of Ownership!
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- เผยแพร่เมื่อ 8 ก.ย. 2024
- Thinking of buying a Cirrus SR22? Wouldn’t it be helpful to know the costs of ownership from an actual cirrus owner.
Watch until the end where I breakdown all the costs of ownership
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Disclaimer
Ownership costs can vary widely depending on factors like location, owner pilot rating and experience, hours flown in a given year and on and on.
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Adding my two cents as a reference point, since I own exactly the same plane (2006 SR22 GTS). I'm a ~500hr instrument rated private pilot and my insurance is roughly $4k/year for $1M in smooth coverage on a $300k hull value. I budget $7k for each annual inspection since the base rate ends up being $2500/$3000 and I always end up finding a few things I want to fix, replace, or upgrade. Storage is by far my largest expense, at $650/mo for a spot in a shared hangar. I was a Mooney fanatic throughout most of my flying, until I hopped in a Cirrus and I've never looked back. They are fantastic planes, and the Cirrus Owners and Pilots Association (COPA) community is an invaluable resource.
Agree
Yeah it’s an unbelievable plane
Thanks for watching
So if you fly for example average 10 hrs/mo it will costs you something about $3000/month.
@@topdog1400 yes on average that’s correct
It’s raising a little now due to the cost of fuel rising
Thanks for watching
I don’t think it is worth it at those expenses. You could use netjets or something similar and that would be cheaper. You also would be flying in jet airplanes which are safer than a propeller plane.
@@mikel4272 that kinda defeats the purpose of owning and piloting your own aircraft though.
This is good info. I’m a huge Cirrus fan. I would love to buy one, as I would prefer to learn to fly in my own plane. This includes an IFR rating as well.
I encourage it
I Love flying for business and pleasure and the cirrus sr22 makes that enjoyable, affordable and safe
Thanks for watching and commenting
100 hours per year sounds like a lot for most pilots I know. Most I know only fly 10 or 20 hours a year after they get their license. The best plane to fly in all cases is somebody else's.
I agree
100 hours is when it starts to make sense to own
10 to 20 hours your better off renting
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so fun fact. i actually make these plans. i work at cirrus and i bond these together! so whenever you fly these or look at them, remember those planes are man/women made!
I love it
Thank you
These planes are amazing and a game changer in the industry
Thanks for watching
I actually am getting ready to put my name on the list for a new one
100LL is NOT basically kerosene.
My mistake
Thanks for clarifying
To clarify more, Jet A1, Diesel and Kerosene are more similar, Diesel having a 34H16C molecular structure and Kerosene being more an unstructured soup of Hydrocarbons. They have very different flash points to Gasoline and Avgas 100ll which are similar to each other again 🤓 Avgas 100lls lifetime comes to an end with the replacements unclear at the moment, which is also the reason that it's death struggle takes so long being so widely used. But it's a risk to keep in mind buying a Avgas powered engine. My home Airport has done away with the fuel truck for Avgas already as a first step.
Appreciate the input
I was confusing it with Jet A
@@BlueSideUp you would be a ton of fun having a conversation at a bar of it🤦🏻♂️
@@Captndarty a Bar full of physicists, absolutely 😝. Some of us can even adjust to their company 🤓
What a dream it must be to own this plane if you can afford it
Yeah, it does help. Thank you!
Great
Thanks for watching
Damn that is one fine plane. Beautiful.
Thank you
The purchase cost is a fixed number and how long you own the aircraft and how much you are able to sell it for at the end of your ownership produces the final number to add to total cost.
There are three major variable and recurring costs. 1. fuel 2. insurance. 3. maintenance (which includes annuals/repairs, fluids and cleaning products, hangars and tiedown fees, and oil changes).
Insurance varies based on hull value largely, then age, experience (flight hours as PIC) and retractable gear and age of aircraft. Incrementally, after age is considered there is a small delta between flying as a VFR/Private pilot and having other ratings, like instrument, commercial or ATP.
Fuel is obviously dependent on frequency of flight and where you buy the fuel.
Maintenance also varies dependent on where you get your annuals, how hard you are on brakes and tires and the engine, and how careful you are avoiding damage.
Great synopsis
Love it
You are absolutely correct
There are tons of factors that play into the costs
The working man worked hard all his to getting a Pilot license back years ago and that 172 you got is one of the best seller on the market right now so if I can buy it with two others for the cost you are paying for the SR22
I learned on a 172 in the late 80s
I’m actually going to sell my 172
If your interested in it message me
Video was a big help...lol means I will not be owning a Cirrus SR22 🤣😂🤣😂
Thanks
You can always rent one and only pay for hours used
It’s an amazing machine
And fun to fly
If you're not running loads for the Mexican cartel ALL these costs are coming out of your pocket; So much for the joy of civil aviation!
Thanks for watching
It’s not cheap but there are ways to make aviation pay for itself
I may do a video on how I have my airplanes pay for themselves
@@aviationguys247 How do you get your airplanes to pay for themselves?
The absolute awesome thing about newer Private Aircraft is they can have Chutes Installed, take off, Fly, Land Auto systems, Voice control systems, Fly higher & Longer. It's absolutely Fantastic.
Yeah they are pretty automated
After hearing how much you have too pay, I will never complain about my hangar, insurance, fuel or Maintenance on my Piper Archer III.
Much more expensive than I thought. This is a hobby I will not be taking up (though I imagine its a TON of fun).
It’s not cheap but there are ways for them to be a business expense and an asset
Thanks for watching
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Hope my thumbs up and viewing your channel helps a little paying for this magnificent bird. 😀
Yes sir absolutely
Thank you
First thing you have to have a major well-paying job in order to afford the aircraft and all the maintenance and storage and so on and so on. Average guys not going to be able to do it that's for sure. I'm not a pilot but that is one pretty plane.
It’s for sure expensive
Appreciate your input
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Have to think outside the realm of being simply an employee who receives a paycheck bi-weekly for this type of ownership. Business ownership or executives with compensation packages that include annual significant stock is probably the lense to view Cirrus ownership through.
I actually rent this one to a company that covers the cost of ownership
Charles. Well done
Thanks Sean
Great info. Thank you for sharing.
$30K per year. My golf friends spend more than that belonging to a country club.
To each their own
The cost of ownership is all relative, for some it’s super expensive and others chump change. Thanks for watching
Yeah, but it probably doesn’t cost them nearly a million bucks to join the club.
Sounds about right.
This is what it costs me for this 2006 cirrus sr22
My hanger fee is high but that’s just our choice
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@@aviationguys247 I, at least, do like your content, so since you asked so nicely; liked, commented and subscribed!
Appreciate it
Great video... Keep on keeping on 😁👍👍
Thanks for the input and thanks for watching
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Thank you !
Thanks for posting this I was looking at a cirrus and a Lancair (kit)… can you make a video about why you chose a cirrus 💪🤙
I will thanks for the tip
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how are planes financed? I've looked in the web but cannot find it. In terms of what's a good down payment %? Rates? length of loan? etc. Thanks! Just found your channel, loving the content
Thanks for watching
You can finance a plane thru your local bank or there are specific plans finance companies.
Look in aviation magazines like Aopa pilot or flying magazine.
I think the typical down payment would be around 20% but would depend on a lot of different factors like your credit score and age and type of plane.
5 to 15 year loans
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Thanks for this video. I’m learning to fly and the SR22 is my dream aircraft. Always wondered what the running costs where. Helps to plan for the future.
Thanks for watching
I hope you achieve you dreams
A gas 100LL is NOT kerosene. Don’t put kerosene in you engine.
Yes I realize the error
I appreciate you watching and your input
I knew the costs for purchase and maintenance would be quite high but I wasn't prepared for the actual amount - blimey!
I thought the cost of the aircraft to buy up front would be about £100,000 new - absolute tops. The other associated costs are knee trembling.
Still, I suppose it keeps out the riff-raff.
Yeah it’s certainly not cheap
Keep in mind these are my costs and some of there costs could be trimmed a good bit
Thanks for watching
@@aviationguys247 No worries. Thank you for explaining it. It was very informative.
So to simply put it set aside 10-20% of what you paid for it a year and you can afford it. If you can’t well you can’t afford it.
That's about right!!!
@@aviationguys247 that’s what I live by. Boats, off road and planes. I can afford them all because of that rule.
100LL is gasoline not kerosene. JET-A is a refined kerosene.
Yeah I got them mixed up
Thanks for letting me know
I plan on updating the video
Thanks for watching
Go 6:05 for stats.
Its still cheaper than having kids! Guess which one I gladly chose over the other!!!
That’s for sure
I would not trade my kids for anything
@@aviationguys247 No, I chose NOT to have kids!
I dont think ive ever seen a cirrus on the ground with its doors closed.
But what’s the payment / depreciation? Seems like that would at least double those figures for a $400,000 plane would it not?
Jeez I have a diamond Da40 and 600 hrs and I pay 800, yes, 800 a year (AOPA). My annual is 1800. Cirrus not for me.
Wow that’s awesome
I’ve never flown one
I’ll have to check them out
How about reserve for engine TBO? 2,000 hrs. I think
Yeah I think it’s 1800 but I’ll have to confirm
I’ll have to do a follow up video with FBO costs
Curious, where are you are that a hangar is $1500/month? (granted its a larger hangar). Thx.
Yes
5 offices and 2 bathrooms and a kitchen
I’m in charleston wv
It also includes utilities
A t hanger at crw is $400 a month
Why get such a big hanger? Wouldn't a T-hangar be way cheaper?
Yes cheaper but that’s what’s available and we have 2 planes and we have space for other stuff and office space
Thank you for the info.
What state?
West Virginia
Did i hear you say 100LL is basically Kerosene? Because its not.
Correct
I would love an SR22 but unfortunately only gazillionaires can afford them 😢
I agree
They are expensive
Average person cannot afford GA but maybe that’s good!
Yeah
It’s expensive
There are ways to get into ga on a budget
Thanks for watching
By a different plane. GA IS cheap if you want it to be.
That’s for sure
It depends on you mission
I have a variety of planes and when I just want to go ip and sightsee or go up in expensively I take the Cessna 172
If I want to get somewhere fast by my self the cirrus is the way to go
Ive been wondering how much a newer plane like this cost!
1mill
It honestly doesn't make sense (to me, anyway) to buy new. Unfortunately, over the last 1 1/2, prices have gone up, but you still can find a Piper Meridian, which will do 300 knots with a decent tail wind, for $750K, while burning about 35 gph. Why buy this plane, which is not nearly as capable, for $250K more?
100 LL is not kerosene
Yes I misspoke
I made an updated video where I corrected errors and added some omissions
Thanks for watching
Kerosine??? 😆 time for an edit!
Yes
I screwed that one up
I missed a few things I plan on updating
Thanks for watching
400k? 🤯
Likely; used aircraft prices are crazy high, with a nicely equipped 50-year-old 172 coming in near a hundred grand.
Can probably save money by getting rid of that parachute
Agree but it’s what helps resale
In my opinion
You have to be wealthy to own this small plane... my gosh!
It can be expensive
But it can be owned for much less of its owned the proper way
Piston engines burn gasoline, Turbine engines burn kerosine.
Yes sir
I realized that after I published the video
Thanks for watching
Appreciate the input
Kerosene and Jet A and diesel are comparable. 100LL is Gasoline.
Yes sir
My mistake
I was confusing the 2
Any rich person out there want to give an old guy his dream plane then plz 🙏 feel free 😁
How much is the cost to the environment too, BTW?...
Good point
It would be interesting to know the difference between a plane and a car of the same size
@@aviationguys247 Personally I'm not opposed to aviation as I find it very interesting - I wanted to get my pilots licence many years ago. However, I am opposed to unnecassary carbon emissions too.
I square my apparent lurch towards hypocrisy by hoping fliers take to the air with a mind to how their emissions start to harm the environment beyond their right to enjoy their fulfilling pastime.
There was a military pilot on a YT presentation this week, scoffing and laughing when throttling up his fighter jet while giving some anonymous journalist a spin (literally), "there you go, burnt another couple of dinosaurs for yuh!"
It's this gratituitous abuse of the privelidge and environment I take umbridge with.
@@MarkHopewell seriously? Go watch environmental videos. This about piloting and owning an airplane not worshiping the Earth. Smh.
@@a-a-ron4679 Is there a law against commenting in a wider context?
@@MarkHopewell law? Absolutely not but no one wants to hear your guilt laden environmental nonsense. People are getting sick and tired of the climate cult trying to force their Earth religion on the non believers. Save it for some other video.
Did he just say 100LL is like kerosene?!
Cessna lot cheaper is it not
Yes a 172 is a lot cheaper to own and operate
I will stick to my Microsoft Flight Simulator and pretend. My wallet can’t stretch any further.
Wow redoing airbags just because it’s aviation.
Yup
Every 5 years
And $5000
100LL is not basically kerosene 🤦🏻♂️
GA? Ha....this kind of money does not feel like GA to me. 45-60 year old Pipers, Cessnas, and Bonanza V-tails is my GA world. You breath different air than most of us. Kudos to you....but most GA pilots can only dream your dream. Excluding unforeseen maintenance/expenditures your cost is roughly $255/hr assuming 100hrs flown/yr. My old, outdated 6 pack Arrow is about $100/hr less. The big cost that prohibits most of us from "the dream", is the acquisition cost. Hence the market for ugly, 45-60 year old airframes is strong and will continue its upward trajectory as more and more are removed from service for whatever reason...
I agree 100%
The market is crazy now
You definitely can get the cost down
By just moving to a different hanger and airport I could save a substantial amount of money.
I could also find cheaper annuals
I love avation and love sharing my passion
Thanks for your comment and for watching
In Greece, your costs are halved.
That’s great
We spent our honeymoon in Greece,
You have a beautiful country and great people
Can’t wait to visit again.
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That is simply not true. First of all fuel is extremly expensive. I paid in 10/2021 between 3,50 € and 4,3 € per Liter, which are between 15 and 18 USD/gallon. Landing fees on airports can be also very high. With 100 USD you are on a cheap one. And most airports have only open between 2h before and after scheduled flights, so it needs very good trip planning getting from A to B, especially if there are scheduled flights only 4 times a week e.g. Don't get me wrong, flying in greece is a great experience and adventure. But it is, as far as i know, the most expensive location for that in europe and can only be seen as an adventure today.
How much? Alot. Next question..🤣
That’s for sure
So i'll keep on flying it in Microsoft Flight Simulator for free😉😄
Perfect
Yeesh. I could maybe do it in a partnership with 9 other owners... but on my lowly $80k salary, there's no possible way. You didn't even cover engine and prop overhauls. Buh-bye dream plane...
Thanks for watching
A flying club is a great way to make flying affordable
Comm, inst, multi, CFI-II and you said 100 octane gasoline is basically jet-a?!? I hope that was a brain fart on your part, that won’t be repeated…
Yes for sure
I did an updated video and corrected a few mistakes
Thanks for watching
cost of owning a cirrus thats hilarious......
Yikes
geez way too expensive only for the overly rich
Just like all things aviation, you had better be fucking wealthy. It's a rich man's hobby. Your love of aviation doesn't count.
That’s for sure
It’s not cheap
HOW IS THIS MODEL WITH FLOATS ADDED FOR A SEAPLANE?
I’ve never seen one with floats
Not sure you can add floats