Last Updated on December 5, 2021 by Peter Townsend
You’ve completed your pilot’s course and got the pilot’s license. Congratulations! The only thing that stands in your way of the skies is the possibility of flying. The purchase of an airplane, although appealing in concept but is a significant financial commitment.
The idea of owning an airplane can seem unrealistic initially, especially when you add the costs of storage and maintenance, fuel, repairs, and insurance to the price of an aircraft. But the good news is that there is a second, cheaper alternative: renting an aircraft.
Aircraft Rental: Can you Rent a Plane?
Yes! Rentals of planes are increasing in popularity and are an excellent alternative for pilots who want to fly at their own pace however, they do not have the funds to buy a plane. Renting a plane has additional benefits, as well, such as maintenance, storage facilities and a variety of models, and even fuel.
You might need to conduct some searching to locate an airport rental service near you, but there are flight schools and aviation centers in the local area such as J. A. Air Center is a good spot to begin.
How Much Does It Cost to Rent a Plane?
The quick answer is much less than purchasing a plane. Renting is extremely affordable. If you buy the plane, you’re likely to pay a lump sum cost for the plane, based upon the model, year of purchase and engine, possibly up to $50,000.
In addition you’ll have to rent hangar space and pay your monthly insurance installments, purchase gas when needed, and cover repairs and maintenance, making your annual expenses at or above the figure of $20,000.
If you’re confident you’ll be able to afford it, and that the possibility of flying whenever and wherever you’d like to is worth it, and it can be, buying a plane worthy of serious thought. However, the financial cost of owning a plane can be extremely overwhelming, particularly for novice pilots. Renting is a much lower cost option, though with less frequent availability.
Rentals for planes are usually charged by the hour, which means the only cost is the time you are using the plane. Although the exact costs differ from one company to the next the rental rate is usually between $150-$500 per hour, contingent on the dimension and capability of the aircraft.
If you’re like the majority of others of the recreational pilots in America travel for about fifty hours per year, based on the aircraft or planes that you lease, you’ll be paying between $7,500 to $25,000 per year in costs. If you’re constantly hiring the most expensive models and you’re looking to buy a plane, it might be worth it because there’s a small difference in cost.
If you’re planning to lease smaller or less costly options, it’s less expensive than buying the plane. Certain rental companies offer the option to purchase a predetermined period of time each month. If you know the cost of what you’ll fly in the future, this could be a good option too.
Rent a Plane: Wet Renting vs Dry Renting
One important aspect to take into consideration is dry versus wet renting. When you rent wet it is the case that the expense of fuel and oil is included or refunded in the total cost. There is no need to fret about planning your budget specifically for these expenses in addition to the rental cost, but you’re still paying for the costs.
If you’re renting dry the fuel and oil aren’t included in the cost as the driver is accountable to cover both as required. Both options offer advantages. Wet renting allows the pilot to arrive with an empty tank of gas or, depending on the policy of the company to request the quantity of gas they would prefer. Dry renting permits the pilot to search for more affordable options for gas and assists in teaching the basics of fuel management and.
Aircraft Rental Benefits
If you are the owner of a plane you’re responsible for its maintenance and finding competent mechanics to fix it. There is no need to fret about this when you rent. Because the rental business must keep their aircraft in good condition for them to rent out They take care of maintenance and repairs, allowing you to relax and take pleasure in your time on the air.
If you are renting a plane you don’t have to fret about finding an airport hangar for your plane, paying pay for space rental on top of the other costs associated with an airplane, or even checking and maintaining on it when you’re not frequent users. The rental company keeps and takes care of the plane when it’s not being used.
If you rent instead of purchasing the plane, you are able to try different models of aircraft according to the availability of your rental firm. If you are planning to purchase an aircraft in the near future, renting a plane is the best way to explore different models of planes.
Rental companies provide personal instruction on the plane you lease in order to avoid any issues with liability however, it also means that you have the chance to discover how to fly on different models of planes and also which model you’re looking to purchase.
If you are renting an aircraft model at first, the renting firm will assign you an instructor so that you can use the precise controls of this model. This means you’re certain to have an instructor on whatever model you select, which you cannot count on when you purchase an aircraft.
You can choose the car that best suits your needs for every trip. If you’re planning on going on a trip by yourself and want to hire a smaller and possibly faster plane. If you’re carpooling (plane-pooling?) with your coworkers to attend the conference, you’ll require additional seats.
Rental firms will offer models with four or more seats. If you rent instead of purchasing the seats, you can utilize your flying skills to take on different kinds of trips.
A plane rental comes with many advantages. In addition to the thousands of dollars you save on storage and maintenance, in addition to your plane, you can enjoy additional advantages, like being able to discover what kind of plane you’d like to fly or use different sizes of planes to bring guests and family members along with you.
If you’re interested in finding out more about renting an airplane take a look at the renting options or get in touch with us. We’re looking forward to having a conversation with you!