If you recently completed your pilot’s training and got your license, you may be wondering what your best option for flying is. Should you buy a plane or rent one when you want to go flying? Depending on your finances and how often you intend to fly, it probably makes more sense for you to rent a plane. There are several reasons why it is better to rent than buy a plane.
1. Maintenance is Easier
If you own a plane you are responsible for your own airplane maintenance San Francisco CA. You will have to find and pay for a mechanic for routine maintenance or if your plane needs a repair. Routine maintenance is required every 50-100 hours of flying, which can be often if you fly frequently. When you rent, the rental company takes care of the maintenance.
2. Insurance is Cheaper
Unsurprisingly, plane insurance is quite costly. Renters are required to have insurance before going up in the air, the cost is significantly less than owner’s insurance. Renters insurance can be around $100 a year, as opposed to $1000 for the owner. Insurance for airplane renters has liability coverage for injury and property damage.
3. Storage is Expensive
When you are not flying, your airplane has to be stored away. They can either be stored in a hangar or outside. Outside is cheaper than a hangar, but there is still a cost involved. The average cost of a hangar rental, if it is even available to a small aircraft owner, is $275 a month. This doesn’t include the $100 for gear. If you rent, you won’t need to pay for storage, as the plane owner is responsible.
New pilots should rent planes to get a chance to try out different types of planes. Unless you know you will be flying every day, it is more economical to rent instead of buy.