How Much Does A Plane Cost? Let’s Find Out!

How Much Does A Plane Cost Let’s Find Out!

How much does a plane cost? Well, thank God you asked because I would have never thought about it either. My bank account would never permit me. However, this is indeed a fun thing to talk about. I mean, it feels good seeing at least someone thinking about buying a plane.

If you are a pilot already, I can imagine the dreams you’ve had about owning your own plane. Like, imagine walking up to the ramp and pulling up to your own flight, jumping in, and flying wherever you want. Sounds like a dream, doesn’t it? But can this dream ever come true?

Well, planes are no doubt expensive. However, with a little research and planning, that dream may be achievable. Yes, it is true. There are some planes that are more affordable than you can probably imagine. In this article, we shall discuss how much does a plane cost and everything else that you need to know about buying an aircraft.

Key Takeaways

  • A private jet may cost you somewhere between $2 million to more than $100 million.
  • There are certain ongoing expenses that you need to take care of as well. These expenses include the salaries and expenses of the flight crew, the cost of its regular maintenance and unplanned repairs, rent for the hangar, and definitely aircraft insurance.
  • Alternatives may incorporate private jet charter services, partial ownership of the jet, and membership in any private jet club.
  • Travelers may as well charter flights with the agent of the jet company or with any broker.
  • Rates for charter flights can vary from the lowest thousands to more than $10,000 for a flight per hour.

How Much Does A Plane Cost?

How Much Does A Plane Cost

Well, there is no solid answer to this question. So, let us start with the rough numbers for anyone who dreams of owning a flight one day.

As the rule of thumb, you may get a clean, and yet very old, four-seater, and single-engined flight for something around $60,000. This depends on the model, make, and the exact conditions of the plane and its features. The same aircraft, which is probably new in the assembly line, would be somewhere around $500,000, or maybe even more.

There are multiple sites on the internet, like Hanger 67, Controller, and Trade-a-Plane, where it becomes a lot easier for individuals to do a little online shopping.

These are classified services when it comes to aircraft sales. Hence, you can browse as much as you want and find something that fits your budget. You can find your answer for how much does a plane cost. You may also go to eBay, as the older aircraft are generally sold pilot-to-pilot.

Brokers would usually handle the newest and most expensive of the models. Therefore, getting the prices for those aircraft may get a little tough.

However, we went through some of these websites and drew some similarities between the types of aircraft, their age, and the over-price range they are being listed for today.

Remember that the prices you get to see online are only asking prices. Hence, there is a chance that the sell price for these aircraft would be 80% of these exact values.

  • “1970s two-seaters (C152, Grumman Yankee, etc.) $50,000 – $80,000”
  • “1970s four-seaters (C172, PA28-140/150, Grumman Cheetah, etc.) $60,000 – $90,000”
  • “1990s – 2000s four-seaters (C172, Diamond DA40, PA28-180, Socata TB9/10, Grumman Tiger, Cirrus SR20, etc.) $100,000 – $400,000”
  • “2010s two-seat LSAs (C162, SportCruiser, Pipersport, Tecnam, etc.) $100,000 – $200,000”
  • “2020s newer four-seaters (DA40NG, Cirrus SR22, etc) $600,000+”

Things To Consider While Buying A Plane 

Things To Consider While Buying An Aircraft

You cannot just wake up one morning and decide that you need to buy a plane. You have to know how much does a plane cost? There is a lot of research and decision-making that goes behind the purchase of an aircraft. You are not making a paper plane that would be a decision for a second. There are many things you need to consider if you wish to buy an aircraft.

Here is a list of the factors you need to look into while purchasing an aircraft.

Hourly Rate 

The first practical question that comes here is, how much do you fly? Any aircraft vendor would tell you that if you are at least spending 200 hours in the sky per year, it is still feasible for you to purchase an airplane. However, keep in mind that they are also trying to sell you one.

Your Travel Routine 

The kind of travel you associate with is a lot more important than your air hours when you are buying an aircraft. If, for example, you have to frequently schedule one-way flights, then you may have to end up paying for the cost of sending the flight back along with its crew.

Ongoing Costs Apart From Plane Cost

Regardless of how frequently or where you are willing to fly, jet owners face a lot of ongoing substantial expenses. These expenses may be anywhere from routine maintenance to on-the-ground downtime.

There are also unpredictable repairs. For instance, just a blown tire may cost you $2,000 to $3,000 for replacement. Then there is also the hangarage, the salaries of the crew, and definitely the aircraft insurance. If you finally end up buying a private jet, you will have to pay for all these expenses without a question.

How Much Does A Bigger Plane Cost? 

How Much Does A Bigger Plane Cost

While we were till now only talking about private jets as those are more common, you may as well wish to buy a bigger aircraft.

Keep in mind that these bigger planes are nothing but a business asset. They serve as a status symbol.

As a result, the price for these flights may be at the price peak. So, it is better if you just call your accounting department before making that purchase.

While I was only talking about the purchase price of these aircraft, the maintenance and operating expenses are untouchable.

If you wish to buy a bigger aircraft, you will have to recruit a full-time cabin crew, pilot, and even an aircraft manager who would do some scheduling and plan for the maintenance. The parking is not so easy either. You would have to pay a comparatively larger sum if you want to park a plane that big.

The maintenance for these flights is also different. They are also tracked by their takeoff and landing cycles, and not flight hours.

Frequently Asked Questions!! (FAQs)

Q1. What Is The Cheapest Jet For Sale?

Ans. The Cirrus Vision Jet is the least of the expensive jets that are for sale these days. It has a sticker price of $2 million only.

Q2. Is A Private Jet Considered A Good Investment? 

Ans. If you are spending somewhere around 240 hours in the air every year and you can make up for the purchase price by chartering your plane, then yes. Aircraft is a pretty good investment.

Q3. What Are The Ongoing Costs Associated With Owning A Private Jet?

Ans. The multiple ongoing costs that come with owning a private jet include repairs, maintenance, fuel, storage, and a lot more. The total ongoing costs may range from somewhere $500,00 – $ 1 million every year.

The Bottom Line 

How much does a plane cost? Well, I am hoping it is clear to you by now.

Purchasing an aircraft is no joke. It needs, first of all, a lot of money. Unless you have it, there is barely any chance for you to purchase an aircraft.

While purchasing is just the first step, there are many more additional expenses that you need to cater to if you own a plane. Therefore, make this decision very thoughtfully and with enough consultation.

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Upasana is a budding journalist who has a keen interest in writing. She considers writing as therapeutic and is most confident when she writes. She is passionate about music, movies and fashion. She writes in a way that connects with the audience in a personal level. She is optimistic, fun loving and opinionated.

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