Purchasing plane for training

[ncskier]

I am considering purchasing a C152 for my Private training, inst, comm, etc...basically as much as I can do, then using it to build hours taking quick trips w/ my son. Has anyone else done this? What are the advantages/disadvantages of this approach. Yes this is my first post and I look forward to interacting with the community here. Thanks in advance for all of the help.

[KC Jake]

You could use it to do your private and instrument, then build time up close to commercial minimums. But, you cannot use it to get your commercial rating. You need a complex airplane to do that.

Otherwise, it's a great idea. My dad and I bought a 172 to get his instrument, as well as my private and instrument. We put it on lease back so others could rent it. It flew quite a lot when we weren't flying it so it wasn't that much of an expense. Just make sure it's well maintained and others always fly with an instructor so they don't wreck it...trust me.

[ncskier]

What sort of expenses are associated with owning such an aircraft? What is the cost for an annual, 100 hr service, etc.?

[PatrickCPS]

Expenses vary depending up what you own and where you keep and maitain it. Best advice I can give: buy the best plane you can afford as it will be cheaper to own when you factor in maintenance.

[esa17]

Originally Posted by ncskier

What sort of expenses are associated with owning such an aircraft? What is the cost for an annual, 100 hr service, etc.?

Depending on the type and complexity of the aircraft annuals will cost anywhere from $250 to a few thousand dollars. You can save yourself a TON of money but doing owner assisted annuals. You won't need a 100hr inspection unless you decide to rent it or lease it back to a flight school. Renting it out you will find is very cost prohibitive when you factor in wear and tear and insurance.


An annual on a 152 shouldn't cost more than $800/yr if you don't do owner assist and the airplane is in good shape. I just recently sold a 150 that I owned for over three years. My hourly expense were about $45 when you figure in fuel, oil, hangar, insurance, and misc expenses. I earned my IR and built 200 hours in a year including 100+ XC which launched me into my commercial. My younger brother earned his private, instrument, and built nearly 250 in it. Last week I sold her for $1,000 more than I paid for her. Even though I ended up majoring the engine I still came out WAY ahead than people who go the rental route. Owning your own plane grants you a freedom most will never know and as far as I'm concerned its the best way to go bar none.

Another benefit of owning your own plane is you WILL without a doubt become a better aviator. Gone are the "no landing here, there, or anywhere on turf" restrictions most schools have and gone is the willingness to "fly it like a rental".

[BillErvin]

Originally Posted by ncskier

What sort of expenses are associated with owning such an aircraft? What is the cost for an annual, 100 hr service, etc.?

There is a club for the 150/152 http://www.cessna150-152club.com/ as well as forums on yahoo. Between those you can get a real good idea of costs.

I own a 77 150 and as far as I'm concerned it was one of the smarter airplane buys I've ever made. My costs are a lot lower than most because I live on an airpark and my partner is an A&P so I can't give a good comparison.

Bill

[ncskier]

Where can I obtain insurance as a student pilot and what can I expect to pay?

[esa17]

You can get it from the AOPA or any other aviation insurance firm. There are plenty of ads in aviation magazines. I've always insured through the AOPA since its so painless. You can probably expect to pay around $800 as a student on a 152.

[BillErvin]

Originally Posted by ncskier

Where can I obtain insurance as a student pilot and what can I expect to pay?

For a student, expect to pay $800 to $1000+ for the time your a student. Then the next year It'll be better. When you get you IFR ticket it'll get better yet!

[ncskier]

So what is the process for purchasing a plane, transferring ownership,registering with the FFA, etc? Also what instruments do i need to meet IFR requirements?

[esa17]

Pay for the plane and sign the forms, they get sent to the FAA and in a few weeks you get your new registration. Both of my birds have the old registrations in the logs.

G enerator
R adios (nav and com)
A ttitude indicator
B all - slip indicator
C lock (dash mounted)
A irspeed
R ate of turn indicator
D irectional gyro
(D) ME for above 24000 feet.

IFR cert on the plane every 24 months.

[BillErvin]

Originally Posted by ncskier

So what is the process for purchasing a plane, transferring ownership,registering with the FFA, etc? Also what instruments do i need to meet IFR requirements?

There are a few more things to worry about when buying a plane than paying for it and signing the paperwork

1. Go to the website I told you about, Join, and ask questions. You can also buy the book on 150 & 152s in the online store. Its one of the best books ever on 150/152 series aircraft

2. Find the plane

3. Find an independent A&P to do a pre-buy inspection (don't use the owners A&P ever Never Never Never use the owners A&P. A pre-buy is sort of a quick annual inspection. It'll cost you some bucks but its worth every penny

4. If you don't bother to follow the above instructions, you might get lucky and find a good solid aircraft or you'll spend a lot of money down the road and wish you'd followed them.

5 pay for airplane

6 sign paperwork send it to the FAA

Good Hunting
Bill

[DE727UPS]

To buy a plane, you write the owner the check. Then, you both fill out and sign an FAA bill of sale form. You send the form to the FAA with a check for 5$ and they record you as the new owner. Many states have sales tax. In my state, you have to pay this tax to before you can register the plane with the state. There is a big fee if you don't do this. Each state is different, I'm sure. Also, there is the FAA registation form which you should send in with your FAA bill of sale to Oklahoma City.