Aircraft Ownership Costs for the Cessna 414A | VLOG #5 Part ONE
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- čas přidán 26. 04. 2017
- A subscriber who was interested in potentially acquiring a Cessna 414A/421C asked for a breakdown of expected ownership costs. Here's the video! These aircraft ownership cost videos are becoming more popular on CZcams, and are proving to be an excellent resource for aircraft buyers. Like, Comment, and Subscribe for more!
TLDR: $850-ish a month for each of: Hangarage, insurance, yearly inspection and debt service/opportunity cost.
$200/hr for fuel, $25/hr for oil change, $75/hr for engine overhaul (you either put it aside to pay for it, or lose it on the resale price).
So if you fly on average two hours a week (100 hrs a year, more in summer, less in winter) - each week will be a bit over a grand in costs.
At that price, the only thing I’ll be flying anytime soon... Is a kite.
This plane expenses cost $6700 a month. You should have about $400K annual income to buy it yourself.
Fair enough, looks like I'll simply have to fly a couple loads for the Cartel every year and have it for free!
Lmao lol
😂😂😂
good luck with that, bro... let me know how it comes out... I tried the import business.. once... it's a whole lot easier to work for a living... and safer.. I'm not really worried about safety, if you know what I mean... but there are places where you better.. or else
I was 21... just barely made it to 22... ;;☆》long time ago
I'm building personal sized dirigibles.. or trying to.. some day real soon.. they are radar transparent.. low altitude ones with electric ducted fans.. might make the job easier.. but don't tell em I told you
All I can say is ouch. Thank you for the breakdown which can be applied to any airplane you buy with the fixed costs changing of course.
This is the most honest cost brake down I've ever heard! Super to see someone who isn't sugar coating anything here.
I would like to hear about the 310R cost with the same honesty. Thank you so much for the video
Thanks Kirk! The idea behind this video was to be as transparent and honest about the costs as possible. So many people requested the topic, that I figured it wouldn't be fair to the viewer to try and water anything down or be misleading in any way. I can definitely try and break down the 310R numbers a little bit, but for a good start, take $20,000 per year off of each scenario, and that would be fairly close.
Bravo! Your brake down of costs was fantastic. Thanks for providing!
Hey Joe, I keep watching your vid on this particular plane-for some reason I’m drawn to this model. I could never afford it, but out on the horizon with it would be fabulous. Keep the wings up and be safe. Peace.
Great presentation. Got me to think the way I need to go!
Excellent video - really appreciate the cost break down
This was an awesome breakdown of the cost of ownership of that plane! I was once told to double the cost of any airplane you own.
Half of your money goes to purchasing the plane and half goes to operating the plane.
WOW! Much much more than I expected.
There is a reason you see all those Baron 55/58s for sale COST ! Fuel, parts, and more expensive than a Cessna 300/400 series.
Great video. Long but very detailed. Thank you loved it.
I love youtube as I use it as my trip into fantasyland - I'm a 74 year old medically retired(cancer) 1- school bus driver(10yrs). 2 - Carpenter (20yrs). 3-A&P mechanic (10 years off and on). 4 - four year Marine , two year Air Force. 5 - a ten year gap (spread throughout) of self imposed "bumness" ....... most of my working life was "under the table" for reasons you can assume (if you wish) and therefore my Soc.Sec.& disability total $1,000 @ Month ........ I therefore proudly announce that I can pay the insurance on this A/C (if I don't eat)................ gotta love the internet ...............
I'd much rather hang out with you, than the [insert word] Audi driver at the start of this video. Do they implant a 'shallow showoffness' gene into you when you buy an Audi, d'you think? Having said that, the aviation content of this vid was great. He just needs to realize that the "look at how successful I am, in my Audi" opening sequence, just isn't cool.
@@BobC250 Cheers ..... just sayin'
great video, fantastically put together by an obviously clever AND honest owner. Well done to you sir following frm Australia
Hello John, great job in explaining the ownership costs. At one time I've owned five airplanes, and can totally relate to what you are describing. Summarizing from your video, the hourly cost of owning and operating the C414A (100hr/year) would be around $700 per hour, considering you own the asset 100% (no loans) and you include engine reserves. Again, educational video explaining in real and simple terms, what it costs to own and operate a bird like that.
Hi Eduardo. Thank you for you compliments! The $700/hr figure on a 100hr year is pretty accurate for most people.
Great video. Beautiful aircraft, It cost a lot to own one of those beauty. I wish one day Ill be able to afford just to get my pilot license.
Very interesting, many thanks for posting.
Excellent, very well articulated. Thanks.
Great job thourough and very informative. The Watchman
Great video on break down of cost.
Great video. Just proves why nobody wants to fly lol. Thanks for putting this together. Very good
Very informative and well done. Thank you.
Thank You Robert!
I thought that was a very good breakdown. Now I think I'll go out and learn how to fly a hang glider! Maybe I can afford that:)
Vid starts with guy turning up in a 100K Audi RS. From there you know it's not for normal people lol.
I wish it was an RS, and I'm glad it wasn't $100K!
I love that we included the crush washers in price haha
Great and presumably realistic cost analysis. Makes me 'for sure' realize I would have no business in an airplane like this. If I get a Bonanza I'm sure that will be plenty expensive enough..
Thanks, David. I didn't want to mislead anyone or try to make the airplane appear more or less expensive to own and operate than it really is. A subscriber asked for the video, and it would be doing him, and every other viewer a disservice to try and make it appear to be something it isn't. Boy a Bonanza is a sweet flying airplane! Beechcraft parts are unbelievably expensive. I'd probably get a Turbo Arrow before I'd get a Bonanza. They'll do basically the same thing, but one will cost substantially less to acquire, own, and operate, as opposed to the other.
Fantastic! Great video...
thanks now I know where I stand love that video great. I ,m in Puerto rico
Thanks Audberto. Hello from NY!
Awesome video - this has inspired a lot of wild thoughts about starting a charter service and business ownership! Of course in the end I will not act on any of them, continue to work my 40h/week job and keep flying my little single for the $100 hamburger. But... you never know!
Hey Joe. Starting a 135 Certificate is not easy, but it is not impossible either. Do some research into what it would take to get yourself what's called a Single Pilot 135 Certificate, which basically allows you and only you to fly your airplane on charter under op-specs that are issued to you by your FSDO. I think you'll be surprised to find out that it's easier than you might imagine!
It does not seem to be outside the scope of possible. Making money or even braking even on a charter operation seems like it would be extremely difficult. The saying I always hear from the grey beards around the airport is that in order to make a million dollars in aviation, you have to start with 2 million and know when to cut your losses.
It really isn't. Take it from someone who's been involved in the charter business for quite a while!
Great video, Thank you!
Great job are just some ballpark costs, keep up the good work
Well done and very informative
A Cessna 414 crashed a day ago in Cali and this is now recommended in my CZcams
I had a dream that a red and while Cessna 210 was spluttering low over semi open, undulating land and the plane crashed a mile away. And 3 days later it was on the news, everything the same including the single broad red stripe along the fuselage and white paintwork.
Excellent breakdown! Thanks for putting in the time to come up with some realistic numbers. I still think a 414 is great bang for your buck, considering a lot of new 4 place single engine piston aircraft are upwards of a million bucks now. You just get so much more airplane! That being said, I’ll probably never be able to afford a 414, at least on my own…maybe with a partnership, it would be a lot easier. I’ll probably be in the market for something like a Saratoga or a Bonanza instead.
Worth watching to the end, imho. Bottom Line?: If you buget and build reserves conservatively: $800/ Flight Hr. @ 100 Hrs per year. Another way to say it: If you have to ask, you can't afford it. 😜
excellent video!
A well built finally tuned engine will like fresh oil !
There’s a great benefit for it in the life of the engine .
Hello from New Port Richey , Florida . I was born in Yonkers , NY & grew up in Mahopac , NY . Moved here from Beacon , NY 10 / 97.
🎉amazing video, thx
Couple thoughts. Interest only is somewhat a good thing since well maintained aircraft appreciate in value generally. Tis a gamble though however, cashflow is always king. One can opt to pay down the principal if they want.
Second insight. If the owner becomes familiar and is handy and opens up most of the access work for the IA then he can shave off a considerable amount of hours on the annual. This of course is if you build a good relationship with this contractor. Lastly, a more interesting perspective is if one is retired maybe go to A&P school. You'll then be licensed to do most of the work, can do the 100 hour yourself, you can also double as quality control, you'll be a better pilot and at 12 grand a year, maybe saving 75% of that annual cost, one would make up their investment in 5 to 6 years. All pluses
As they say, if you need to ask the price, it's too much but, these however are creative ways of feeding that flying habit.
Great information
Very good presentation and the numbers must be quite similar for a Aero Commander piston model.
Very clear !!!
How times have changed $$. In 1970 I got my multi engine land rating. The aero club rented a Piper Apache for $15 per hour wet the instructed was $4
No idea what fuel was then but I think it only burned about 18 gallons an hour. I think the ramp parking was free as it was at the Naval Air Station.
Wow! I'll stick to my powered unbrella and free medical exams by the TSA. Love the plane though.
Nice 👍
Great video on the 414AW ownership costs, thank you. Obviously things have changed a little bit five years down the road. But, I’m wondering if you actually have an outline or printed version of your 3 models? Also, this one was listed as Part 1, was there a Part 2 follow up with additional info?
I love the detail of this. The 414 is on my list for a twin. Do you have any plans for the 340 review? So far the 340a ,from my research fits my budget and needs better than the 414.
I think I'll stick to my little Cub. Thanks!!
Great video thanks for all of that info. Can you do a video about chartering the 414 to off set operating costs?
As you wish!
great! thank you
soo.... how do you make your money back? if it costs $80,000 just to keep it and fly 10 hours a month, how much do you charge/or how do you charge? is it $1000 an hour or is it charged by mile? even then, that's not making much money... how much does this aircraft bring in annually?
Lion's Head Enterprises ii
what does that mean? they give them x amount annually?
Joe....great video !!! As an aircraft owner (C-172..night and day difference to 414) but I believe the basic steps you covered are spot on. Giving several scenarios adds to the overall costs of owning (its how you figure it). If I may, the only thing I thought you might have also mentioned was avionics existing and currently installed vs. cost of upgrading. Avionics upgrades are unbelievable expensive !!! In smaller/much less expensive aircraft, avionics upgrade/repair are even proportionally much greater...lastly hangar costs at HPN in greater NY are SIGNIFICANTLY higher than in a small airport in Florida thus altering that number greatly. Having said all this I think you have done an outstanding job in adding insight into owning ANY airplane...well done !!!!
it would've been great to see the numbers you mentioned listed on screen!
Next time!
Nice Aircraft!
He explained the plot in a clear and interesting manner, wow...😊
How did he do that? 😌
I'm now getting into CZcams,l; this is like the 3rd time I've watched your video. Now I actually "liked" and leaving this comment! I've always been impressed by your breakdown. I've always thought about ownership, but I realize that it's a bit out of reach right now unless you're doing it not just for recreational. It will be smart to l, as you eluded to, something like chartering the airplane. Still doesn't mean someday I can't do it, but for now I'm only a dollar and a dream away from achieving my life goal! 😉 I see you're in the NY area. I learned to fly out at KISP. Where are you located, and is is possible to come out to see the airplane? I'm a big kid always wanting to learn more!
This is why I fly a PA28 pay $1000 a year for Ramp parking spot change the oil every 50 hours and get about 7.7 GPH and fuel is $3.80 a gallon here. Flying can be as cheap and as expensive as you want it to be.
You're absolutely right Dillon. It can be as expensive or inexpensive as you want it to be, but with lower cost comes lower capability. We wouldn't be able to take four adults from NY to Naples, FL in an afternoon (Which is a trip we make 5-7 times per year) in a PA28. Nor would we be able to cruise at FL250 and 220 knots true, in pressurized comfort. Not to mention deal with serious IFR weather, convective weather, icing conditions, etc. While it would certainly cost us substantially less to own an airplane like a PA28, it just doesn't suit or mission. We pay for the more expensive airplane because we require the capability that comes with it.
Dillon Harper have you googled your name recently?
Protip: make sure safe search is disabled haha
Dillon Harper i doubt you can fly more than 200 miles.....
piper arrow seems to be the best capability for cost ratio i've seen. decent range, decent lifespan, fairly cheap used, decent fuel and can still carry 800 lb load with fuel. anybody sees a better one let me know. (plus they are super sexy imo and they have retractable landing gears so it counts towards complex aircraft hours.)
WOW 83 dollars a month for a ramp spot? I think were 10 or 15 at KPRB where are you tied down, must be a large airport.
Wow! I've always liked the Cessna 414's... But after hearing the cost breakdowns, I think my budget is more along the lines of a 3-way partnership in a ratty old Cessna 152... LOL! :)
The devil is always in HOW you calculate your operating costs. There are several ways to look at it, but in the end, everything costs the same no matter who owns it. I tried to keep this as realistic as possible and didn't want to be misleading or try to make things appear more or less expensive than they really are. Although as the saying goes, you get what you pay for! Its an expensive airplane to own, but the cabin space, performance, etc. make up for it.
You might as well buy a Weephopper outright. You can do just about as much traveling.
Is there an SB/AD mandating props to be overhauled? Usually that's on condition.
Nice video. Thank you
You're welcome!
A great attempt at being thorough. Can I review this as if I was your consultant so you can truly know your estimated yearly cost?
Your explanation
Annual cost for this plane based on his summation for part 91 and not chartering and taking out a loan for 50% the value(but missing some major major pieces below from my finance brain) Fixed costs:Assumptions 100 hours per year, Gas at $5.00. $225 Hour Direct Cost for Fuel/Oil = 22K, Annual=$11K Gremlins found on the annual yearly = $????($2K?????) Insurance = $8.5K Hangar= $12K Other inspections/unscheduled maint = $5k. Allocations: TBO Engine reserve = $60k/1600 = $37.5/hour or $3,7K x 2 engines per year reserve plus labor or $75 per hour x 100 hours = $7.5k per year. Prop cost per hour = $5/hr or $500/year. Borrow for 20 years $200k at $10k per year in cost of that money for 20 years (or a freaking $400k in financing costs).
The first scenario is not real and you stated you know it, as it just hides from the true costs and kicking the can down the road. The second with paying without borrowing at his stated $70k per year. The third is with borrowing 1/2 costs $80K.
On the third scenario and as a financial analysis, you tried hard but are missing another 30% in yearly costs. I would look at three things that are in the end direct costs and cannot be ignored. First, if you are borrowing money, you have on the other side the opportunity cost of the cash $200k being ignored. Your $200k can generate at 7% $14k per year. You loose that. Put it on your analysis. Second, I know the cost of regular upgrades to the flight instruments are crazy costly. Say $50K every 10 years conservatively? That is $5k per year in reserve. And last, liquidation cost and depreciation. This plane, being up to date with equipment as an assumption will be worth in 20 years or in 10 years? $200K in value? Say you own it only 10 years and you loose $75k in value (if you upgraded the avionics) That is $7.5K per year. And last, do you pay a company to sell your plane? 5% of the value of that $325K? That is about $17K or $1.7K per year? My total now for cost of ownership in your third scenario is another $28k per year or $108k per year in your third scenario a full 30% above your figure. That is the true cost. I feel pain if this is not a chartered plane just eating up this money.
Mark H Well, you're entitled to your opinion, but nobody really calculates their cost of ownership this way. Your additions to my breakdown make quite a few assumptions, not the least of which is that aircraft owners dump $50,000 into their avionics every year. This just simply isn't the norm. In fact, we've owned this airplane for 18 years, and haven't touched the panel at all. Haven't needed to. I think your breakdown is a bit misleading, which is exactly the opposite of what I intended to do. Finally, good luck getting a 7% return on $200,000.
I also like your comparative analysis of the C414A versus the C421C, very similar airframes, with different engine power plants. Granted the C421 has a higher operational cost due to its higher fuel consumption and increasing engine overhaul costs. However the asset acquisition cost is lower for a C421 than a C414 of comparable vintage and conditions. Around 100K lower according to my research. So this is something to bring to the ownership equation as well. Reading the articles of Jerry Temple, he asserts that Cessna launched the C421 Golden Eagle to compete with the turbo-prop market. If that was the case, Cessna had relative success, given the number of Golden Eagles produced from 1968 until 1985. I think it is important to mention that the geared engines on the C421 turn at lower RPM in cruise, (around 1800 RPM) versus 2400 RPM for the C414 which makes for a very quiet cabin, one of the great advantages of the C421 over the C414. The other being the higher payload available on C421 a direct consequence of the higher horsepower engines (375 HP per side). Off course all these features come at a price. Another point to remember: TCM is not producing the GTSIO-520 series that equip the C421 anymore. So what is out there must supply the market needs. Therefore the cost of replacing one of these engines is only going to increase as supply decreases. A few companies have tried to re-engine the C421 with turbo props, including ex Cessna president Jack Pelton. The Excalibur project did not go as planned due to unforeseen engineering challenges and costs involved.
Hey Eduardo. You are correct in all respects. However to many people, the cost of operating the airplane is more important in the long run than the cost of acquisition. Overall, the benefits offered by the 421C are either totally convenience based (for example, the reduced cabin noise) or are only recognizable in limited circumstances. There's a reason that the 414A has held its value better than the 421C, and it is generally considered in the market to be a more desirable airplane despite the slight reduction in performance over a 421C. There is no question that the 414A is a less expensive aircraft to own and operate than the 421C
Hi John, agreed as well and thanks for sharing all these operational information.
It gears down prop rpm. Actual engine rpm is higher then a no gtsio engine. The tach measures prop rpm in 421. Engine rpm is higher. The prop has a 2.3:1 reduction.
@@torqueranch4396 - Yes but cabin noise (especially at altitude) is generally down to prop noise, not engine noise. So the lower RPM point relating to engine noise is certainly valid.
Up until the point you touched that prop at the 17:25 mark I legitimately thought you were sitting in front of a greenscreen. Great video though.
Corps. have been overpricing aviation since it started , government also.
It certainly ain't cheap!
When he spoke about financing he mentioned a 20 year Amortization Loan with a 5 Year term. I would strongly recommend that anyone who is thinking about financing this type of aircraft not consider a 20 year Amortization but a 15 Year Amortization. Yes it will cost you more in terms of your monthly payment but with a 20 year loan you will not have paid that much down on the principal and with the additional 500 hours on the airframe and engines you may well find yourself upside down in the aircraft when it comes time to refinance. Just a thought.
I dream about owning something like this, sadly I'll never even come close to affording the cost of one. Just the annual inspection alone is to much for me.
New game, the airplane challenge every time this guy says airplane you have to drink a shot
or how "big/massive/complex/etc" it is......
I liked it very good is that you're playing
Wait a minute. $25 per hour for oil? Each engine takes 12 quarts, and shouldn't burn more than 3 quarts in 25 hours. That's 30 quarts for both engines, or 2.5 cases if you don't buy in actual bulk. At $90 per case, that's $225. Add $50 for a pair of filters, and even $125 to have someone do the work. That's $400, or $16 per hour. $25 per hour comes out to $625 every oil change, and the cost of materials doesn't change much, so that's a difference in labor cost. Some mechanic's helper somewhere is billing $350 in labor to do oil changes on both engines. That's just criminal.
I am getting my private pilots license now! Loving the 414 vibes
Thanks John! It really is a truly fantastic airplane!
The costs you quote are reasonable. I budget $50k/yr. for our 601p, which is faster and more efficient, at the expense of cabin space we don't require. We generally just fly about 50 hours a year though, so we usually end up well under budget. Your insurance cost is about 80% higher than ours, a fair amount of that is the difference in hull value.
One thing you left out was opportunity cost. Our airplane was not financed, but $200k-$300k @ 6% after tax investment return is another $12k-$18k/yr. "expense" that is accrued, even if it doesn't stand out on the balance sheet.
PA60 Pilot Very true. We considered an Aerostar to replace our 310R when we purchased the 414. The cabin, as you know, is quite a bit smaller and we just really wanted the extra room. The biggest turn off for us with the Aerostar was the maintenance. While it seemed to us like most of the systems were pretty well built, and the airframe was undoubtedly well built, the engine installations didn’t make a whole lot of sense to us. Having to pull the engine off the airplane to get to a rear cylinder or accessory seemed odd. The cost of the Lycoming overhaul is also substantially higher. But with all that being said, nobody can argue the efficiency of the Aerostar. Especially the 601P. Not to mention that they’re probably some of the best looking piston twins ever made!
hi Joe, great video, what about depreciation of it for a year ?
Started out looking into Mosquito helicopters and wondered what it would cost to own an airplane... Going back to Mosquito vids...
Thank You.
So pretty much you gotta be rich to fly that SOB .
Thanks for the info . I know the 182t is more in my wheel house once I get through all requirements
Thank you very much!
Anytime! I hope I covered what you were looking for!
You covered more than I knew existed. There were a few extra hidden costs I never thought about. Sounds like It costs a little more than I expected. It's a great informative video though for those looking to buy an aircraft of this type.
nice plane buddy, I like it...
Thanks Paul!
Part of the "Dig Me" / "Check Me Out" series
The guy with the 172 did a great job of getting to the point. I guess he assumed that clicking on a video titled "ownership cost" was sufficient explanation for the viewer as to the why of doing said video... Hint to other's, there are no actual figures in this video. Just many many why's and reasons...
@ 10:14 Our syndicate Vixxen A32 is $9500 (Aus) or $6700 usd for insurance. The rates you are quoting are perhaps from some years back?
The figure I discussed here is what we're currently paying. Insurance premiums vary wildly depending on many, many factors.
That is one expensive airplane to own. I appreciate you Making the video. I believe you're the only one out there who has made a video on the 414. In regards to the other twin Aircraft in its same class and relative size, would you say this is a more expensive aircraft to operate, or one of the cheaper of the twins to own?
I'd say its probably right in line with what to expect from any cabin class, or even light twin. The benefit to an airplane like the 414A, is that you get a lot of airplane for the money. The cabin is enormous and comfortable, and it has more storage space than you'll ever need. I'll cover the great features of the airplane in Part 2, which is coming up here in the next few days. For example, a Cessna 340 is a smaller airplane, but it would cost roughly the same (or maybe even a bit more) to own. The 300 and 400 series Cessna's, Aerostar, Navajo, etc. are all going to be roughly in this price range. Other airplanes can be deceptively expensive too. Like a Baron. On paper it appears to be less expensive, until you see the price of Beechcraft parts. It might actually be more expensive to own a Baron than a 414.
Sounds good. Thank you again for the video and I look forward to part 2.
I can imagine! Especially with the price of Beechcraft parts...
I used to own a motor home and loved to travel in it. Same arguments as airplane ownership and flying. I could have driven a car and stayed in four star hotels for less. You do it because you love it, to because it makes financial sense. If you love it and can afford it, do it. If not, forget it.
Sky True Amen Sky True! While this airplane is also an important business tool for us, we certainly love having the ability to load it up and go get away somewhere! Thanks for saying hello!
How much are landing and handling fees ---
not only at the home airport but also at the other airports you end up flying to and from along with storage fees at those locations. .
He starts talking about prices at 9:18 .. Geez man, get to the point already!
Well Pablo, when you don't understand the context that the figures are being presented in, they are meaningless. Hence why I wanted to explain where the numbers come from, and the specific way that I calculate our operational costs, which may differ from the way that others do.
THANK YOU!.. for those that don't want to listen to blah-blah... you are looking at around $80-100k per year... only the rich need apply! LOL.. guess I'll stick to my car!
Thanks for actually summarizing the costs. I got tired of listening to all the rambling, I mean "context droning".
To do a good analysis it takes detail definition, which he did a really good job at. C'mon fellas you have to have more attention span than it takes to watch a super bowl commercial to appreciate the content provided.
Ralph Malone that’s just called poor communication, being concise is a virtue
I calculated my geographic location in and came up with about $84,000/yr.
100LL@$6.30/gal. and my usual luck with older airplanes and annuals accounts for the discrepancy...
very informative, i own a baron 58. Is there any video you would recomend?
For some reason, I can't find that Baron video anymore. Maybe it got taken down?
Long story short.....you need to pretty much be a millionaire.
Not hard...just start a quality small business.
Yea no shit right lol
Truth's Knight, says someone that has likely never had a small business.
High Light
To be a millionaire is a good idea 💡
In general
Airplane or not
In my case i was flying before becoming a millionaire
And stop after becoming millionaire
I am worth less than that and I own a superstar 700
since his company owns the plane, it also pays the expenses. Expenses are deducted from revenues as business expenses. If you have 0 net profit, you pay $0 in taxes. So in lieu of paying taxes, the company pays for the plane. This is the secret of incorporation.
GO TO THE HEAD OF THE CLASS !
This video is actually a bad video on the actual cost of ownership because...
What about pilot training costs? Crewed? Owner flown?
Pilot gear i.e. headsets, IPads Jepsons etc.
Travel expenses for pilot training?
Lost earnings on the capital costs tied up on the "investment" in the plane and the expenses for each year?
Brokerage commissions on the buy/sell transactions?
Pre-purchase inspection fees?
Title searches for the plane?
Legal fees for transactional and counseling services related to the transactions?
Accounting services to keep tract of the transactions and tax filings?
Landing fees?
Overnight parking fees?
Overnight hanger fees?
Deicing fees?
Aircraft cleaning/washing fees?
Catering fees for meal service, if needed by passengers?
Tips to the line crew?
Ground travel not available from FBO?
Depreciation in excess of book value?
FAA enforcement risk?
Estate planning fees to accommodate aircraft ownership?
Air Worthiness Directives Risk?
Aircraft management fees?
FAA flight training fees?
FBO parking fees?
His estimates of cost of oil, fuel, overhaul etc. are understated?
Inflation risk on foregoing expenses?
Imputed time value for your time and emotional angst to manage all of the above?
If you calculate all of that, $1,000+ per hour all in is low.
If you had your AMT Lic how much would you save in Inspection/Repair cost? Just curious... Thanks
Hard to say. Depends on how much of the work you could do, and would actually want to do. You need an A&P with a fair amount of experience on the type to really work on it properly, and there are a lot of unique systems in the airplane that a run of the mill A&P doesn't or has never seen. A good example would be the Janitrol fuel-fired heater. Not to mention all of the specialized tooling and equipment, like the jacks with a weight capacity to handle the airplane, etc.
Misleading? I think not. It's called simple interest. Maybe the guy with the 172 wanted to invest his 30k into something with a better ROI than a used Cessna, and found a way to own one for a hundred bucks a month.
Precomputed interest rate loans use actuarial, pro rata, or rule of 12/78's for payoff so the simple interest loan was the smart choice.
Thanks for the video, thumbs up...
Yep! I’m still flying coach!
Hi, thanks for the time and info. I have been watching videos of c414s in general and wanted to know how come I have never seen any c414s with the g1000s? Is it too expensive or is it another reason? Thanks
HI! The biggest reason you won't see a G1000 in a 414, is because there's no STC for a G1000 installation in this airplane. So basically, it isnt approved for this airplane.
Thanks. I always wondered wondered why the c172 was compatible but not the c414 . The g1000 would look nice though. Too bad. Thanks again for your time.
Thank you for taking the time to do this video. I’m sure you could of been something more productive for yourself.
Thanks George!
The cost you discuss is rather high, what percentage of the time do you use the airplane for business which would be deductible. I think I'm going to keep my 172 because I own it outright and I only use it for pleasure.
GA has never been a cheap date. The challenge is justifying the expense: what do you have to do v. what you have to spend. Putting up with driving or Southwest is tough to beat.
Planes, or at least piston planes, should be in a similar series of price brackets as cars. Maybe a cut above for the avionics.
Not orders of MAGNITUDE above.....
Cause they're using engine designs that are 70-80 years old.
Nobody flies just for fun anymore because its unaffordable, by a long shot!
Great job explaining the cost. That's a ton of money to fly. Do most charter to offset it ?
I would say that those owners who charter to offset are a relatively small minority of owners. Getting your own 135 certificate if you have no experience with Part 135 isn't easy, and it can be a very, very lengthy process depending on what FSDO you deal with. Not to mention that most pilots don't want to have to fly with the feds every six months to do the required 299/297 ride.
S4 Aviator thanks for the insight. That's a great deal of money for a hobby. I would imagine then that most use planes like these for business and claim them as such.
What are your thoughts about the 340A? I’m still in flight training, but when I get my PPL I’m going to go for my MEI endorsement.
Its a great airplane. It's actually slightly faster than the 414A. From a value standpoint, I don't think it offers the value for the dollar that the 414A does. A 340A is going to cost the same, if not more to own than a 414A. The cost for anything associated with the engines will be virtually identical, but the airplane uses several older systems, like the electric gear, and the bladder fuel system, that are going to cost more to maintain than the newer systems found on the 414A. So a 340A has a much smaller cabin, and costs the same if not more to own. Considering the cost factor, I'd rather go 10 knots slower and have the enormous cabin of the 414A.
Ok thanks S4 for the reply! I’ll definitely keep that in mind as I go through flight training. Thank you for posting the videos to. I’m going to keep watching.
Since buyers guides are getting more popular on YT...please show interior overview as well.
I didn’t think that guy was gonna finish this video.... he just kept adding cost the ENTIRE length of it. You know what they say if you are asking how much it is you probably can’t afford it.
Seems like $800 per hour