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Benefits of aircraft Ownership vs. Rental
Pilots usually learn to fly on rented or club aircraft, and after having earned their license most pilots continue to rent airplanes - often from their former flying school - or they join a flying club. After a while for many pilots the disadvantages of flying rented aircraft or club aircraft become clear: Availability often is a problem, especially when the weather is great or around public holidays. Also, it is usually not possible to take the plane away for a couple of days and to leave it parked at the destination without minimum hour charges becoming applicable. As far as the equipment itself is concerned, often rental planes look a bit worn out and aren't particularly caringly looked after. Usually they don't feature the latest avionics equipment that you would love to see installed.
Clearly, becoming an aircraft owner has some obvious ADVANTAGES:
The aircraft is always available when you need it.
You can take it anywhere for as long as you want.
You can equip it and style it exactly to your needs and preferences.
You and your aircraft become one, as you know every aspect of your machine inside out.
If you fly a lot, it can be a lot cheaper.
But keep in mind that there are DISADVANTAGES
You have to consider many things that a renter doesn't, such as insurance, where to store it, etc.
You are responsible for the maintenance.
If something breaks down, you have to arrange for it to get fixed - and you will have to pay for it.
Owning an airplane means less variable costs, but you have fixed costs: If you don't fly a lot, the hourly cost can be higher than the rental rate.
Disclaimer: The intention of this document is to provide potential aircraft buyers with some general awareness of points to be considered when buying an aircraft, provided in the hope that it may be useful, but without any guarantee whatsoever for completeness or applicability in a specific circumstance. The information provided in this document is of general nature only and not intended to be complete or definitive, but is intended only to point out some of the aspects that you should consider when buying an aircraft. Be aware that buying an aircraft requires many considerations and that the particular circumstances, applicable laws and regulations vary greatly on the type of aircraft, its registration, and the legislations under which the transaction is carried out. Please make sure that you familiarize yourself with all legal, transactional, and tax requirements before buying and flying your new aircraft.
