How Much Does It Cost To Buy A Small Plane
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Single-engine planes will typically cost between $15,000 and $100,000. Although single-engine planes are more expensive than ultralights, they can hold multiple people and are still relatively economical compared to other aircraft.
Multi-engine planes are more expensive and can cost up to $300,000 or more, depending on the features. The higher cost pays off with increased safety: if one engine loses power in flight, the other engine can still allow the pilot to navigate to a suitable landing location. Additionally, multi-engine planes generally have higher speed and performance.
If you choose to buy a factory-new small plane, J.A. Air can help you reduce the cost by negotiating on your behalf to ensure that you obtain the best value. Our team has a wealth of market knowledge and will gladly work with you to prepare a budget for a small plane that meets your needs. Reach out to us for more information on our aircraft acquisition services.
Although the initial purchase price of a small plane can be substantial, you can reduce costs by purchasing a pre-owned plane. For example, Plane & Pilot Magazine reports that a good-quality used Cessna 150 is easily obtainable for as little as $30,000.
If you choose to purchase a pre-owned plane, make sure to get a thorough pre-purchase inspection. A pre-owned plane may have hidden defects that cost thousands of dollars to repair if they are left undetected, and a damage history may lower the resale value of the aircraft. Our team at J.A. Air can assist you with inspecting a plane that you are considering; simply contact us for more information about our inspections and other aircraft acquisition services.
Planes must be stored in a hangar or outdoors. If you do not own property suitable for storing a plane, you will need to rent space from an airport. According to a 2021 article from Investopedia, the average hangar cost is $350 per month, plus $100 for tiedown gear.
Inspection costs are another expense to consider, as small aircraft must be inspected annually. Honeywell reports that annual inspections range in price from $750 to $2000, with higher costs for specialized planes with retractable landing gear.
The Federal Aviation Administration (FAA) requires all aircraft owners to register their aircraft and re-register every three years (for a $5 re-registration fee). In addition, some states have small plane registration requirements and associated fees, so be sure to look up the requirements in your state.
J.A. Air has over 30 years of experience in assisting local customers with finding the right aircraft for their unique wants and needs. Our acquisition consultations are always free! Let us answer your questions and help you navigate the specific costs of purchasing a small plane. Call us at 800-323-5966 or fill out an online contact form.
Single-engine aircraft such as the Cessna 172 are typically what come to mind when referring to a small plane. These aircraft are more expensive than ultralight aircraft and require a Private Pilot Certificate to operate.
Multi-engine aircraft will typically not be found with an upfront cost of less than $75,000. Multi-engine aircraft have the greatest price range of any small plane, with many multi-engine aircraft for sale at over $500,000.
While this cost could be much higher or lower depending on the company, it shows you the difference between flying on a private jet and a commercial flight. For bookers who prefer first or business class, it might not seem much different to go on a private jet. But for commercial flyers in economy, this price might seem very high. It depends on the type of flier you are.
The cost of a brand-new plane might be higher than that of a used plane. However, the model and size of the plane also determine the cost. In general, older planes cost significantly less than newer ones, although keep in mind any additional maintenance, insurance or upkeep costs.
With a personal loan, you can borrow money from a bank or credi