How to BUY YOUR FIRST PLANE
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- เผยแพร่เมื่อ 29 ก.ย. 2024
- Should you rent or buy a plane? How do you choose a plane? How do you finance and pay for a plane? How do you find the right plane to buy? Should you buy an old or new plane? I'm talking to professional aircraft broker Philippe about how you can buy your first plane.
I bought a plane to fly around the world - it's EYZ a Cirrus SR22. I talk about why I bought this plane, and Should You Rent Or Buy An Airplane? Also how can you work out what does it cost to own your own airplane? Philippe helps explain ownership costs and what costs to expect if you're interested in buying an airplane.
Oh and if you're wondering how to buy a helicopter, this advice also applies!
CONTACT PHILIPPE ABOUT BUYING A PLANE
Contact Philippe at Lone Mountain Aircraft here: www.lonemounta...
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Him: You don’t buy a truck to bring your kids to school in the morning
Americans: *sweating*
Real Americans roll coal on their way to school.
lol.. being American I relate
finally, a true stereotype
Then imagine how it his is in a small town in Texas
Bro I’m from Texas and I thought it was normal
I can’t even afford a car why am I watching this ?
Welcome to my world. I've been trying to fly since I was 10. Still driving.
Because some planes are cheaper than cars
For inspiration I guess...
You don't REALLY want to fly because if you want something in life then take it or make it. If it doesnt work thats only because its not a priorty in life for you right now belive me. Im not a hater im only telling you a fact. Sorry for my poor english writing I hope there's not also grammar nazis reading this. Peace stay positive boys and fly safe.
@@patb686 exactly i dont own even a car but by early next year i know ill own a plane lol
Great great great advise and you hit every item on someone’s checklist on how to go about buying an airplane.
Niko's Wings advice unless it is a typo
I agree Niko, love your channel
Thanks! Just bought a plane for personal! Gonna whip this thang to school every day skrt skrt!
Jason: I brought my camaro to school
You: OH YEA WELL JASON I BROUGH MY PLANE TO SCHOOL BIAATCH
I'll probably buy an f4 for sure. Thanks for the tutorial.
Excellent video - highly relavent information delivered concisely in a short period of time.
Interesting video with a good input from Philippe. Sound advice but from my experience the permit aircraft i have owned have always appreciated in value over time. True, it might be cheaper to rent in terms of the hours flown but there again I can fly a short distance and spend a day on the ground without having to worry about block times etc. Out of lockdown I can also turn up and fly whenever and wherever I want.
It’s about how many hours you do but most importantly that you need a very bloody good reason to buy ie for an actual purpose ... after owning three aircraft in my 30yrs of flying if you don’t have a reason and I don’t mean “I just want to fly” then it’s not a good decision to buy. There can often be so many surprise expenses that come up at annual inspection time or worse just in general operation that it can really hurt especially if your not well set financially.
This is a great video and Philippe’s advice is much appreciated. Thank you for sharing Stefan!
Mission (type of flying) can also impact solely whether to buy or rent regardless of aircraft. Many FBOs have requirements for long distance. For example, one will not let you take the 2016 172/g over night and more than a few hundred miles unless you hav an IFR rating. Two reasons, first it is in more capable hands from a professional corporate perspective and two, it’s a populär rental. You would have better luck in the old steam gauge 172s but performance is down and they are pretty drab inside. The other place I rented when Ibeas a new pilot, let me take the DA40 overnight but
I also had a working relationship with them. Short version, even if you are flying a bit less than the numbers in the video, ownership may be the better option if the majority of your flights are cross country.
The only thing cheap with airplanes are the owners.
I'm liking the cows google image search
Excellent questions, thank you for the video, gave me a lot of perspective!!
Excellent video ... much appreciated. Thanks!
I’m interested in those kitfox planes with advanced avionics.
My plan is to buy my wings in the US where I will be for the next 2 years as Aussie is more expensive and less choice; right?
First few minutes, and thats Aussie video.. Lets do it!
Awesome you fly and own your own aircraft!
Great content and Philippe was awesome
My buy
Great information!
I wonder how much did you pay for your own airplane? What's the annual cost for maintenance?
Uploaded 57 seconds ago, let's goooo xD
You guys are too quick!
Can you answer the question of how you use your aircraft personally? Do you use it to take vacation? Did you use to do your around the world?
should i try owning an airplaining to use for flight school instead of renting. sounds way cheaper
Hey Stefan! Came across your video while watching videos for my aviation maintenance school. I’ve definitely considered becoming a pilot after I’m graduated, and just wanted to say thanks for a great vid. Buying an aircraft wasn’t something I’ve ever considered but now I’m thinking about maybe making a purchase!
why so you wanna buy a plane?
me: to flex?
Second home, lakehouse and owning a plane.. 😳
My question is, where can i find some seeds to plant my own money tree?
What do you think about a lease back where you own the plane but lease it to say a flight school?
The is a good video for buying your first plane, if you made your first million dollars before you turned 30.
Use the right tool for the job.
Stefan, when you say managed by Blue Demon, can you explain what you mean? Is it that you pay them a charge to look after EYZ? Thanks!
What if you buy a plane and rent it out to other people, sure it isn't tempting at all but wouldn't it make it less of a liability and actually make you some money back?
Rookie question here ... if I buy a plane and then fly it to an airfield close to a national park or some other destination, do those airfields usually have facilities to rent a car?
Depends on the airfield, the larger ones do, but only normally when other airlines fly in. Smaller airfields may have a flying club that may have a car that you can borrow. Others have taxis or ubers. Stef often packs a fold-up bike or an electric scooter for the more remote fields.
So if I just wanted to say get 1000+ hours flying, to become a commercial pilot, should I but a plane or should I share one with the flight school?
I'm sorry this is the wrong video to ask this on ts more about your plans for your round the world trip. Could you do a video on some of the more detailed day to day planning like...1) how do you pee on a long flight. 2) what snacks to take. 3)how to remain comfortable sitting for hours at a time. 4)what if milkshake refuses to answer you in general conversation. *I fly with Rabbit (similar to milkshake)
I want an Airbus A380 via Amazon NOW service..
Bugging hill! I live locally and go every year!
*biggin
Fond memories of that place, spent many a day there as a kid.
Hey Steph! Quick question. Why does the Cirrus SR22 have a extended leading edge? Wouldn't that create a bigger chance of a tip stall?
No it means that the outer edges stall first while the inner sections stall last giving you a delayed loss of lift and as a result its not like falling off a cliff. Its a way to tame the stall characteristics of an aircraft.
@@gusbisbal9803 Ahhhh okay, thanks bud! 👍🏼
today i pass my ppl theory exam！still no money to buy plane
Did he say there are 20,000, 30,000 dollars planes? Where!?
I want an F35
Why did I read "How to BURY YOUR FIRST PLANE"
Can you fly wherever you want or are there heavy restrictions?
Depends on the country
Is he Thomas Nicolas's lost twine brother??
umma going to order pizza with your anz card. lols
👍
That plane is as old as I am
Very informative video. i wonder what that would be like here in Africa.
Step 1. Have money
Step 2. Have even more money
step 3 have even more money
Step 4 Have even more money than you had before.
Step 5.. have more money than step 4
Step 6. Add up money from step 1-5, and have more money.
step 7 if you think you have enough, sorry not enough need to have more more money.
Almost 10 years ago I almost got my PPL, so close. A few months ago I was unexpectedly spending a few days in hospital, watching life pass me by and Stefan you reignited the dream. I’m finishing it!
See you at YMMB one day.
Thanks :)
Hope you finish my dream. I’m currently in a cadetship program from British airways. Goodluck!
i'm over 50 and training PPL now. people ask me aren't you afraid of dying? I'm like Hell no, i'm afraid of not living!
Great dream to make reality. Are you flying now. How is it going?
Yes I got my PPL last year and I’m doing my PIFR now. I’ve been flying as often as possible despite all the covid lockdowns and loving it.
As someone who has recently gone through it and knows: does flight time ever expire when going for a PPL (I'm in the US, if that matters)? Given the cost and the reality that I don't see myself flying more than a few times a year even when I do get my license (life being busy, other interests, etc) my current plan is to just fly a few hours a year and in 5-10 years accumulate enough to have a license, but I want to make sure I won't have expiring hours or something.
When I was young my 'requirements list' for my bird was blue eyes, blonde, svelte and fun, now I am older and my 'requirements list' for my new bird is airspeed, range and glide slope ratio....
I'm watching this at 2am thinking "oh this is useful"... when I can't even afford a plane ticket at the moment with my business collapsing due to the pandemic... *sigh*
I hope it gets better.
I hope you can rebuild your business better than ever after this pandemic.
Don't loose your hope and confidants . We people are limiting our own skills and that's why we often think about quitting
@@kishoress4936 Thank you, I'm slowly trying to rebuild it :)
@@-paulmp I wish you the most success :)
"there's nothing like getting into the airplane and your headset is already plugged in" That is probably one of the main reasons I went with sole ownership of an SR22. Great video, great questions. I too went through my first purchase last year. It was enlightening, frightening, frustrating, enraging (met one sleaze bag I'm glad I didn't buy from), educational and in the end extremely rewarding.
I rented for a long time but got frustrated at not being able to do long trips. The only rental options were flight schools where students have to come first. Then there were the strict rental policies: a written exam to blow your nose, and a check ride to sneeze...
I set a budget that included most of the usual GA suspects: Cherokee, 172, AA5, Sundowner, etc. Something like an Arrow or a Cardinal wasn't out of the question. A share in an Arrow or a Cardinal would have me reaching for my checkbook. I ended up with a charming old Beech 23 Musketeer, bought from some nice local fellows who weren't flying it enough. Look over the plane and documents, test flight, research issues and ADs, pre-purchase inspection, deal! Along the way I flew a Citabria to get a taste of what taildraggers were like. A 152 would suit me fine except I'm a very tight fit and was concerned about getting out quickly in an emergency. The Tomahawk was interesting but there aren't many around.
Financially, it's utter nonsense. None of which matters when I line up on the runway. :-)
Right on! - This, and the promise of "Boring videos" (as per your About) made me click subscribe... 👍😎
The last line says it all..Happy Flying!!!
THIS IS A VERY GOOD CONTENT
thank you.
thank you.
I have just ordered my A-380. Thanks for the guide.
Lol I ordered my Boeing 757 because the a380 is going out of factories and is becoming obsolete
@@epicscout9826 u cannot even own a toy plane
@@epicscout9826 haha
i bought a 767
The old saying in aviation is to wind up with a million you need to start with 2 million.
“You don’t buy a truck to take your kids to school in the morning”
Lol, you’ve clearly never lived in California.
California is the last state on my list where I would expect that to be common, but as a Texan I'm a little biased
@@starlightfrontier2218 As a German who never left Europe (political borders not geographically (holiday in Madeira is inside political Europe but outside geographical Europe)) I must say we think all americans buy a truck for taking kids to school.
Starlight Frontier then you haven’t been to california’s central valley.
@@paboooj1 for real! I just found out some people dont know California has cows...
@@Sabrina-uw7wc Or if you're from Montana, being dropped off in a tractor
I was litterally about to buy a airplane when you made this
What is it?
@@skyforce2132 It's an adverb, but that's not important now.
Great video Stefan
I reckon
Step 1 - how much can I afford
Step 2 - how much do I actually want to spend!
Step 3 - Do I want to sink capital and have fixed costs? Also, can I afford to pay for an unexpected BIG cost - these can be very big!
The mission and list of must / should haves are really good tips but be honest with yourself. A good first question is - am I going to use this as a means of transport or just for the fun / challenge of flying.
I got my PPL after retiring early and was sure that I wanted to buy a plane for the freedom that would give me. Luckily I bumped into someone who was a part owner in a group of 5 that had a share for sale. I liked that they checked ME out as much as I checked the plane. I did the deal and have not regretted it for a single moment as availability is excellent and I only pay 1/5th of the fixed costs. The plane is a really nice Archer that has been well maintained and has IFR avionics. For a group I think the number 1 aim is to have like minded people. No good having one person who wants to spend as little as possible when the others want to have everything that needs doing, done asap. I really enjoy interacting with my co-owners and fly with one of them all the time. If you are looking to buy a share, try to find a plane that has had some money spent on it as the cost is never reflected fully in the value. Plus you should be able to buy a say 20% share for less than 20% of the sale value of the plane - not sure why that is but it seems to be the case.
If you are not sure of your mission then I think a non-equity group is a good place to go as you fly the same plane every time, it is likely to be much nicer than a typical rental and you can walk away if the plane ends up not meeting your mission or you just fancy something different
Great video and advice! I have owned an airplane where it was located at an airport nearby and I now own an airplane and I live on an airpark. I cannot tell you how incredible it is to just pull your plane out, take off and go where you need to go. It is pure freedom. And the ability to just step into the hangar at any time to tinker with the plane, polish it, work with the avionics, etc is completely next level in the aviation game. Good luck with the SR22. Gorgeous plane!
50% Of these viewers are celebrity’s , 40% Entrepreneurs , 10% random poor people on TH-cam at 3 AM
Nice video!
I will get my ppl licence next year and my father wants to buy me a cessna like a 172 or a 150.
So, from where and from whom can I buy it?
I would prefer a new plane if possible, if not a plane in perfect conditions.
Considering a budget of 100k advise me as fast as possible.
I am seriously interested for the next 2 years.
Please answer me as soon as you can... thnx 😊
Most people watching this aren’t watching it to actually buy a plane but because it’s cool.
tax deductions? Buying a plane and placing it on flying line at a flying school or GA for others to learn and rent. Get some profit
And have students beat the crap out of your airplane. No thanks. Leasebacks are never worth it, especially to a flight school. The only time a leaseback night work is if you are in a flying club.
When I finished my PPL I was lucky enough to buy a piper Tomahawk for my hour building. Then sell it 25 hours later for my dream airplane, a comanche. I will never go back to renting. The rewardingness and the freedom of flying my own plane far outweighs the cost benefit of renting.
Extremely helpful! I’ve been loving your content recently, and found the flight sim week hilarious to watch! Add Utah to your round the world flight, we’ve got some incredible mountain flying over here 🤙🏻
I like to fly every week and wanted a plane that didn't cost me my first born! Plus I like it clean and neat and don't share well. Thanks
Drinking game: take a shot every time he says “eChO yAnKeE zUlU”
Biggin Hill is a fantastic airshow, I was so disappointed when it ceased happening a while back. Thankfully it was reintroduced fairly recently, one of my favourite memories was seeing The Reds in formation with a Virgin Atlantic 747-400. Miss Demeanour was always a crowd favourite with her colourful livery!
Why am I, a 13-year old, watching a video about how to buy a plane
Because in 10 years you'll be a professional pilot.
SO refreshing to learn how some real-world questions can be unpacked, when seriously considering ownership or rental. Thanks, Stef. CAVU. 😎👍
Thanks for watching Mike, glad you found that useful.
The TBM 940 meets every requirement I could want out of an aircraft. Unfortunately my budget is Cessna 152 money. All I have to do is start my own, lucrative business and become a millionaire.....GOALS
This is extremely informative. Thanks for a great video Stef. It hits home for for me because I know, living in the Adirondacks of NY, I know my ultimate goal is a STOL and water capable aircraft so I can find remote beaches relatively near me, so cross country speed is not my concern at all. I need back country performance and fuel efficiency. I have the fortune of being good friends with an A&P mechanic that can help with pre-examining an potential purchase. Still a long way away, but that's the goal. Thanks again for the encouraging content.
Somebody isn’t very loyal to Milkshake....
Bahahaha! CowHub?
@@Mike_Costello he was looking at other cow pics on his desktop
Another thought ( because I’ve been here): if you’re buying an older aircraft intending to restore it then it’s far far cheaper to buy someone else’s restoration. You will never get your investment dollars back.
Great video. Another factor against renting is that it’s hard to find most planes available for rent. Sure you can find a Cherokee, a 172 or an SR20-SR22T even, but I haven’t seen anything beyond that typically for rent. So if you need a different plane, renting is not an option.
Great video Steph...it would be interesting to know your figures for EYZ to get some idea of how much it costs to own and maintain a cirrus.
and I was just about to sign on the dotted line ... Good vid Stef, Philippe is a cool guy!
I bought my first plane off ebay for $38.
I bought my second one off barnstormers for $99
I got my third one for free.
I got my forth one for free, and said no thank you, I already got three.
Then I switched to flying FPV digital quadcopters, which are more fun and fully aerobatic. Cheaper and safer too, and you can carry them in your hand, unlike an airplane that you need a 20ft trailer to haul that monster around. Now I'm the best aerobatic pilot in the world :)
So, I got three airplanes I don't need or want any more... they're big, obsolete, costly, dangerous, and basically boring and obsolete... I want to fly in a boring straight line like I want a hole in the head...
Stef I’ve been listening to the Australian Aviation magazine podcasts and they had a good discussion about private pilots getting out there and still flying. I think you consider it now too.
Stefan - Great insight! Can you also do a video on your experience owning the SR22? What have you liked? What's been a pain with respect to maintenance or financially? That's the bird I would like to own but would like to know your experience. I thought I heard you make a comment that you have a management company that oversees that. Thanks for the great content!
Hi mate. Thanks for this explanation. I would have liked to see some more specifics on financials, but I understand why you wouldn't want to present then :) The metric at the end about flying hours and your point about a flying school /rental place not wanting to rent you an aircraft for 4 hours flight time for 4 or 5 days is a key point. Thanks, great video. Subscribed.
First step: Have a steady job that pays you shit ton of cash.
Second step: Get your pilot license.
Third step: Buy your plane with that large amount of cash.
Fourth step: Become a TH-camr so you can show off to the hardworking middle class you have a plane that you fly maybe 5 times a year when the weather is clear. Hopefully the views and ad revenue can help you with the hangar and maintenance cost.
Fifth step: Profit?
This is pretty timely. COVID_19 has pretty much crashed (pardon the pun) the second hand airplane market in the US and there are deals to be had, especially later this summer going into the winter. Ive begun my search for a G2 or G3 SR22.
p.s. er, whats with the cow image search? haha.
Please just no just no please excuse yourself that pun suuuuuuuuuuuuuuuuux
I’m jk that was pretty good it made me chuckle
I can't even imagine how would I afford SR22. Reading up online from various owners it's around $20k a month! The plane itself costs around a million dollars!
I will definitely be buying an aircraft some day, but my fiance says we need a home first!! Hard to argue with her when she's so supportive of flying though!
Buy a big enough plane and it can be your home.
@SpeedyCM can't argue with the logic
@@SpeedyCM now that's big brain thinking!
Off topic, but where is the most affordable place to do a PPL in 2024. I n Europe or North America, or South Africa. Thanks
I'm planning to do my flight training by buying my own plane and hiring my own instructor. This video really helped me gain that confidence to buy.
How to buy an airplane?
1. Don't be poor.
End of tutorial.
Note: that (less than 20 yo) Cirrus SR22 in this video costs around 300k USD right now
My 2 are the Archer 181 2007 upwards and the Cirrus SR22 also 07 upwards
1:07 🤔 wasn't that KJN (kilo Juliet November)
hope you see this comment!
who is that at back in black&white photo frame ?
stefan i need to tell you something very important, what is your email? ITS VERY IMPORTANT
There's a lot of folks this side of the Atlantic who'd disagree with that "buying a truck to bring your kids to school" comment. Like, a LOT. Just sayin'
I have no idea why I'm even watching this, I have £600 a month pension and nothing else. I can barely afford to go and see my mum (Covid rules permitting).
Normal people cant buy airplanes anymore. 60 year old single pistons with mostly original equipment are selling for high 5 and six figures. Maintenance and rebuilds are ao costly I dont see how to keep up.
Multi pilot partnerships seem to be the only way average people can do this now.
Great information.
- renting
- shared ownership *
- non-equity group *
- outright ownership
- part-owner
* I like the shared and group with options to fly specifically for various activities.
Excellent information. Autism-inducing pseudo-music that is repetitive, intrusive and metronome-like.