One of the most famous planes in the world is Air Force One, which is famous for carrying the President of the United States. However, Air Force One is not a single plane. While it can technically refer to any plane the president is in, it usually denotes either of two 747’s that typically carry the Commander-in-Chief.
While most of us will never fly in something as massive or luxurious as Air Force One, that doesn’t mean we can’t own our own plane. Even small planes can be quite costly, though.
How much does a small plane cost, exactly? We’ll talk about that in this article.
1. Aircraft
The cost of the aircraft is among the largest factors when buying a plane. So how much does a small airplane cost?
Most of them cost somewhere in the tens or even hundreds of thousands, with some of the most affordable costing $40,000. You can also buy an ultralight aircraft, which are smaller and cost less than $20,000 at most.
Usually, you will be required to pay a certain amount up front and the loan will cover the rest. You will then have a certain amount of years to pay that money back with a small percentage of interest. The interest will usually be less than 10%.
If you want an affordable private jet, your best option is probably something made by Cessna. Cessna makes a lot of small planes, and most of them come at a very reasonable price.
You may want an aircraft appraisal before deciding what to buy. There are some great aircraft appraisers in the world, as you can see here.
2. Hangar Rental
Now that you have a plane, you need a place to store it. The obvious solution is an airport hangar, but hangars cost money.
On average, it will cost you over $300 per month to store and tie-down an aircraft. You may also choose to store the plane outside the actual hangar but still on airport property.
This typically doesn’t cost as much. However, the price won’t dip below $100-$200.
Most small airports are located near metropolitan areas, such as Northern Illinois, upper New England, California, and Texas. It’s not just that larger populations will naturally mean a higher number of wealthy people. It’s also the mobility that comes with money.
Where would you go if you could go anywhere? You’d probably choose a big city because there’s a lot more to do there. There also tends to be more jobs, more opportunities, and better food.
Since the wealthy flock to big cities, small airports need to as well.
How Much Does a Small Plane Cost
When discussing how much does a small plane cost, there are a lot of factors to consider. We’ve talked about a few of these factors, but there’s no way we could cover them all in a single article.
If you want more information and advice on various topics please feel free to browse the rest of our site.
