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How much does it cost to rent a plane?
It’s a simple question with no easy answer. The cost varies drastically depending on the type of plane and how well equipped it is. Other than this: whether the time being used is Hobbs time or Tach time, wet/dry, how active the field is and insurance rates may influence the final cost to you personally. Let’s look at these separately so you know what to expect.
Aircraft type:
It is clear that the Cirrus will probably rent for more than a Cessna 152. The owner of the plane must recoup a minimum of the direct cost of flying the plane or else it is simply a charity. You should expect several vintage 150/152s to ring in under $100 total, but lately it’s getting scarcer as gas rates rise. A decently equipped midsize 172 usually runs between $120 and $150 depending on the market and avionics. Their more expensive single piston planes like the Cirrus or Diamond start at around $200 – $300 and range in price from there.
How well equipped is the plane?
Avionics can affect your cost, but not as much as the type of aircraft itself. Typically, the best avionics will also be on the newer planes, so it’s challenging to estimate exactly how much avionics alone affects rental cost. In general, if you want amazing features, count on paying extra dollars.
Finding an older plane without a lot of avionics could be an excellent money saver. Many consumers require at least a GPS (some pilots might have a hard time finding home without “Direct To”) and often an autopilot, so planes without these have reduced market demand and therefore They have more affordable prices. If you have such a plane in close proximity, you can get your own yoke-mounted GPS unit and take it with you at the time of flight. It doesn’t take long for this to pay off either, so if you fly a lot you’ll get your money back very quickly.
Do you use Hobbs or Tach time?
Almost all planes charter on Hobbs hours now, but there are probably a few scattered places that can get you a Tach rate. Hobbs time means that the meter is gone once the propeller is gone; “Tach Timing” means that the meter runs after the RPM exceeds a selected point. In essence, this implies that he covers taxi time with Hobbs and only airtime with “Tach”. Naturally, the prices for “Tach” are generally a little higher because of this.
If you’re one of the few with a choice, you’ll need to do some math to determine the best deal. If you are based at a small airport with little traffic and only a 5 minute take off taxi from the ramp, then Hobb time is considered the lowest price. However, if you are based at a busier air port or one where the FBO is further from the more heavily used runway and then you are taxiing and holding for 20-30 minutes many times, then “tach time” actually could be considered a less expensive option, or at least a more predictable one.
Is it a busy airport?
As recently stated, the busiest airports can be a huge waste of time if not accounted for. If there is a lot of commercial or government traffic, you can spend much of your rental time sitting on the taxiway or taking an extra long finish. There is an airfield near where part of my family lives that is shared with the military cargo planes and often you will be flying half an hour off the beaten track while the big planes arrive. Of course, if that was your home airport, this would quickly affect your finances.
Does it come with a good insurance plan?
I probably give too many lessons on this, but having said that, I feel like it’s really important. Most rental companies actually carry insurance, but be sure to ask to see a copy of the insurance and exactly what it insures. If you find 2 comparable planes and the other one is more expensive, this could be the explanation.
Much of your typical non-aviation insurance products may have written conditions that basically write off any type of incident due to your use of general aviation. Most likely, your health insurance will not pay for medical expenses for injuries sustained from an accident in which you were a pilot or a passenger on a GA plane. Your life insurance policies will undoubtedly have fine print on this. If you’re not cautious, you could leave your loved ones with a lot less than you think because of some fine print.
When the leasing equipment policy is adequate and provides adequate insurance coverage to help keep you safe, then you’re good to go. But assuming they don’t, consider getting supplemental insurance yourself. This is usually quite inexpensive because your plan is supplemental and therefore doesn’t handle some of the high-value stuff that owner’s coverage does (hull cost, liability, etc.). Just make sure you’re insured when it comes to health, life, and legal liability, and buy from an established company that’s been around for several years.