How Much Does a Small Plane Really Cost?

The initial purchase cost of a small plane depends on the type of aircraft.

• Ultralight aircrafts are the most inexpensive option. These are single-seat, single-engine planes that are ideal for personal recreation. An ultralight aircraft can usually be purchased new for an average range of $8000 to $15,000 .
• 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.

Cost of Pilot Training and Certification

Costs of Financing a Small Plane

Depending on your financial situation, you might choose to take out a loan to purchase a small plane. This will result in interest costs to include in your long-term budget.

Multiple factors will influence the interest rate of a loan to finance a small plane. According to Investopedia , these factors may include your credit score, the type of the plane’s use, how frequently you intend to use it, and the condition of the plane (including its year, make, and model).

Planes must be stored in a hangar or outdoors. If you don't own property suitable for storing a plane, you'll need to rent space from an airport. Storage costs depend heavily on both location and storage type. Outdoor tiedown is usually the lowest-cost option, ranging from $50 to $200 per month. It keeps expenses down but exposes the aircraft to sun, wind, and precipitation. Enclosed hangars offer better protection from the elements and added security. These can cost $300 to $600 per month or more, especially at airports near large cities where space is limited. Rural airports typically offer lower rates and more availability. Over the course of a year, the difference between tiedown and hangar storage can add up quickly and may influence future maintenance costs and overall aircraft condition.

Maintenance and Inspection Costs for a Small Plane

Maintenance costs and requirements are a significant but often neglected aspect of the cost of owning a small plane. According to Aviation Pros , maintenance costs vary based on the type and class of the aircraft, but “can range from 10 to 45 percent of the total yearly operating expenses.” Although not part of the initial purchase price of a small plane, future maintenance costs are an important factor to consider when deciding what type of aircraft to purchase.

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 .

Fuel costs are one of the most consistent ongoing expenses in aircraft ownership, and often the largest variable cost. According to the SherpaReport Guide to Private Aviation , fuel is the largest variable cost of owning a small plane and may “account for as much as 70 percent of your variable operational costs.” Most small single-engine planes burn between 5 and 10 gallons of fuel per hour. At an average of $5 per gallon, that adds up to $25 to $50 for every hour flown. A private pilot who flies around 100 hours per year will typically spend $2,500 to $5,000 annually on fuel alone. Multi-engine or higher-performance planes may use 15 gallons per hour or more, pushing costs even higher. Flying style, cruise speed, and altitude also influence fuel burn. Planning around fuel use is a key part of managing yearly operating costs.

Costs of Aircraft Insurance

Many of the factors discussed above also relate to the cost of aircraft insurance. According to Honeywell, insurance companies calculate aircraft insurance premiums based on factors such as the age of the aircraft, the aircraft hours, and where and how (tie-down vs. hangar) the aircraft will be parked. Meanwhile, you can save money on aircraft insurance premiums by taking actions such as obtaining more certifications or undergoing regular training.

Additionally, although title insurance is not legally required, it offers worthwhile protection against unexpected claims on your aircraft’s title.

Be sure to obtain quotes from an insurance company before purchasing a small plane.

Taxes and Registration Fees for Small Planes

Ownership Costs Over Time: Annual Budget Snapshot

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