Personal Aircraft: Rent or Buy?

If you've been taking flight lessons or you've gone so far as to obtain your pilot's license you may be toying with the idea of purchasing a plane for your own personal aviation. Since this can be a big purchase, you may also wonder whether it would be better to purchase your own plane or simply rent one. Which is cheaper and which is better?

That decision, of course, has a lot to do with your own individual needs and interests, but there are several factors that you should take into consideration before making a firm decision to either buy or rent.

First, recognize that purchasing an airplane for your own aviation needs is a huge financial and personal responsibility. Not only do you need to make arrangements for a large outlay of cash at the beginning but you will also be committing to a long term financial responsibility. This includes constant maintenance and possibly repair that won't be cheap.

Many people make their decision based on how much time they actually spend each year flying. For example, if you spend less than 50 hours per year flying it might be better for you if you simply rent an airplane as opposed to purchasing one. If; however, you spend more than 75 or so hours per year flying, it could be that you will find numerous advantages in purchasing an airplane, depending on the type that you purchase.

Beyond the initial amount of money that you will spend on the potential purchase of an airplane, you need to consider how much the maintenance will cost. Rented airplanes have no commitments in terms of upkeep or maintenance. You never have to spend any time worrying about it, it's all covered by your rental fee. You're free to enjoy your aviation skills and time in the air with no problems. On the other hand, when you purchase an airplane, you take on an immediate responsibility, both in terms of money and time. Of course, that's not to say that you need to actually perform the maintenance yourself if you don't have time or you do not have the skills, but you do have the responsibility of paying for it as well as making sure that the work is performed properly. People with very busy schedules may find that this factor alone makes renting more advantageous.

In addition to maintenance, you need to consider the other fees that could related to the responsibility of owning an airplane. For example, you'll need to pay for insurance as well as storage and any airport fees that apply. You will also need to pay for fuel. The amount of money you plane costs in terms of these expenses will vary according to the type of plane you own and your own personal needs but it's not uncommon to spend upwards of $3000 per year on these costs alone. Some pilots find they may even spend as much as $10,000 per year.

Of course, renting an airplane can never quite provide the same factor of pride that owning your own plane can provide. Throughout your aviation lessons, you may have dreamed of owning your own plane and this should not be discounted. If this is important to you, it should definitely be taken into consideration in your decision.

So, what's the right decision for you? It really is an individual decision based on your personal desires, preferences and financial considerations. Consider all the factors listed above and weigh your options to find the right fit for you and your lifestyle.

About The Author:
Jason Petrina is the Editor and Publisher of Article Click. For more FREE articles for your ezine and websites visit - www.articleclick.com